Paper Round: Manchester City prepare £60m Alexis Sanchez bid

We start with The Telegraph, who report that Manchester City are set to bid £60m for Arsenal forward Alexis Sanchez. The report says that despite Arsenal and Arsenal Wenger's insistence that Sanchez will not be sold, City will test that position with a big bid before the end of the transfer window. Sanchez is happy to stay for the final season of his contract but could push for a move if he thinks there is serious interest.

Paper Round's view: Arsenal should sit tight here. They don't need the money and Sanchez is enough of a professional (and football fanatic) that he will knuckle down and give it his all for one final season. Yes he could end up strengthening a Premier League rival next season, but if he fires Arsenal back into the Champions League surely it will be worth it?

We move to The Mirror, who follow-up previous reports that Chelsea are keen on signing Alex Oxlade-Chamberlain, Virgil van Dijk and Danny Drinkwater. Whilst moves for the former two are going to be tricky the report says that the Drinkwater move could be finished by the end of the week to allow him to play against Spurs.

Paper Round's view: Put aside the fact that Chelsea are going to sign Drinkwater having allowed Nathaniel Chalobah and Ruben Loftus-Cheek to leave and let's just focus on the fact that they're spending £25m for a player who's had one good season on the basis that he works well with N'Golo Kante? Who is making these decisions at Chelsea?

In The Mail it is reported that Diego Costa has been ordered to return to Stamford Bridge and train with the reserves. Interestingly the report says that he might be considered for first-team action but after his quotes yesterday it seems unlikely. Meanwhile some of the senior players in the squad are concerned they be discarded by Antonio Conte as easily as Costa was.

Paper Round's view: It's hard to imagine a scenario where Costa starts playing regularly for Chelsea again but less than a year ago it was hard to see this sort of incredible situation coming about full-stop. Anything is possible.

We end with The Guardian, who report that Spurs have started talks with Ajax over the transfer of centre-back Davinson Sanchez and are confident of signing him for an initial fee £25m. Ajax want closer to £36m but Spurs are confident of a deal being completed.

Paper Round's view: There are a couple of weeks left of the transfer window. Spurs need to start making some signings. Sanchez was very impressive last season and could be a very shrewd acquisition in the current formation. Spare a thought for poor Kevin Wimmer though.