Valencia are adamant in keeping hold of their priced asset.

On Monday, the rumour mills were abuzz with news that Liverpool would launch an outrageous bid to land Leighton Baines from cross-town rivals Everton. Though the rumours todays don't match that in outrageousness, it does make for some interesting reading.

Reports claim that the Reds are ready to table an improved bid of around £18.5 million for Aston Villa winger Stewart Downing. The urgent bid comes after Arsenal joined the race to sign the 26-year-old with a reported £18 million bid yesterday. It means Downing is all set to be part of a tug-of-war between the two sides, as the two look to match Villa's valuation of £20 million for the Englishman.

Arsenal and Liverpool are also linked to Spanish starlet Juan Mata, who one of the two clubs could bid for depending on who fails to land Downing. However, the two clubs have been warned off the Valencia star after the club president president Manuel Llorente adamantly stated that the in-demand winger will not be leaving the club this summer.

The 23-year-old had a top tournament with Spain during their European Under-21 Championships and his performances have attracted interest from some of Europe's top clubs, including Premier League sides Arsenal, Liverpool and Tottenham.

However, they could face quite a fight to secure his services as Llorent insisted that Mata was going nowhere.

Juan Mata is not for sale, Llorente said. We have not received any offers for the player. The news that appears in the media is just rumours. We have a very good squad at Valencia and our priority now is to sign a central defender.

Interestingly, Llorente's statement comes just three days after claims from Mata's father, Juan Senior, that foreign clubs had made enquiries about the 23-year-old.

There have been calls from foreign clubs but now the decision rests with Valencia. (Juan) is on his holidays, he was quoted as saying by the Mirror last Friday.

Elsewhere, Roma goalkeeper Alexander Doni is set to sign for Liverpool, bar any complication during his medical on Tuesday.

Sky Sports News reported that, after failed initial attempts to buy the 31-year-old Brazilian, due to breakdown in talks related to personal terms, Doni is now on the verge of completing his move, signaling the end of Brad Jones short Liverpool career.

Doni, who will be the backup to Pepe Reina, is set to join Liverpool by the end of the week, according to his agent.

Alberto Aquilani could be on his way out of his nightmare stay at Liverpool, according to The Sun, as Italian side Fiorentina are ready to make a loan-move for the 26-year-old, with a view to making the deal permanent.

After his injured plagued first season at Liverpool two years ago, Aquilani was loaned out to Juventus last season. However, the Italian giants refused to meet his £16 million price-tag, as Liverpool had initially signed him for £20 million. Now, the player could have his preferred move back to Italy if the club works out a deal with Fiorentina.