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It's the last chance for the capitals football managers to make signings before the transfer window closes at 11pm tonight.

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German star Ozil joins Arsenal from Real Madrid

Ozil assisted the most goals in La Liga last season. Credit: Empics

Arsenal have completed the transfer of German star Mesut Ozil from Real Madrid in a deal thought to be worth more than £42m - a record signing for the London club.

“I am thrilled to be joining a club of the stature of Arsenal and am looking forward to playing in the Premier League," he said.

"It will be great for my own personal development as a player and I am particularly looking forward to working with Arsène Wenger."

The 24-year-old joined Madrid from Werder Bremen in 2010 and scored 19 goals in 104 appearances but the arrival of Gareth Bale is thought to have pushed him down the pecking order.

Ozil, whose has Turkish grandparents, has 14 goals in 47 appearances for the German national side.

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Championship transfer roundup - Watford

A Programme stand at Watford's Vicarage Road Credit: Daniel Hambury/EMPICS Sport

Players in:

Uche Ikpeazu (Reading, free)

Lewis McGugan (Nottingham Forest, free)

Iriney Santos (Granada, undisclosed)

Almen Abdi (Udinese, undisclosed)

Marco Cassetti (Udinese, undisclosed)

Cristian Battocchio (Udinese, undisclosed)

Gabriele Angella (Udinese, undisclosed)

Marco Davide Faraoni (Udinese, undisclosed)

Diego Fabbrini (Udinese, undisclosed)

Javier Acuna (Udinese, undisclosed)

Daniel Pudil (Granada, undisclosed)

Ikechi Anya (Granada, undisclosed)

Reece Brown (Manchester United, free)

Joel Ekstrand (Udinese, undisclosed)

Essaid Belkalem (Granada, loan)

Players out:

Mark Yeates (Bradford, free)

Prince Buaben, Piero Mingoia, Aaron Tumwa, Stephan Hamilton-Forbes (all released)

Chris Iwelumo (Scunthorpe, free)

Jack Bonham (Brentford, free)

Stephen McGinn (Sheffield United, free)

Craig Forsyth (Derby, undisclosed)

Jonathan Hogg, (Huddersfield, free)

Britt Assombalonga (Peterborough, undisclosed)

Adam Thompson (Southend, loan)

Championship transfer roundup - Reading

Madejski Stadium, home of Reading Credit: Dominic Lipinski/PA Archive/Press Association Images

Players in:

Wayne Bridge (Manchester City, free)

Royston Drenthe (Alania Vladikavkaz, free)

Danny Williams (Hoffenheim, undisclosed)

Players out: Nick Bignall, Charlie Losasso, Angus MacDonald, Joshua Webb, Brett Williams, Noel Hunt, (all released)

Nicky Shorey (Bristol City, free)

Joseph Mills (Burnley, free)

Jay Tabb (Ipswich, free)

Nick Arnold (Wycombe, loan)

Ian Harte (Bournemouth, free)

Josh Shama (Oxford, free)

Mikkel Andersen (Randers, free)

Ryan Edwards (Perth Glory, loan)

Daniel Carrico (Sevilla, loan)

Simon Church (Charlton, free)

Jimmy Kebe (Crystal Palace, undisclosed)

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Championship transfer roundup - QPR

Club badge at Loftus Road, home of Queens Park Rangers Credit: Stephen Pond/EMPICS Sport

Players in:

Danny Simpson (Newcastle, free)

Richard Dunne (Aston Villa, free)

Karl Henry (Wolves, undisclosed)

Charlie Austin (Burnley, undisclosed)

Gary O'Neil (West Ham, free)

Matt Phillips (Blackpool, undisclosed)

Players out:

Tal Ben Haim (Standard Liege, free)

Freddy Champion, Adam Francis, Rob Hulse, Louis Parmenter, Tommase Trani, Jay Bothroyd (all released)

Djibril Cisse (Kuban Krasnodar, free)

DJ Campbell (Blackburn, free)

Radek Cerny (Slavia Prague, free)

Troy Hewitt (Walsall, free)

Chris Samba (Anzhi Makhachkala, undisclosed)

Jose Bosingwa (Trabzonspor, free)

Loic Remy (Newcastle, free)

Ji-Sung Park (PSV Eindhoven, loan)

Anton Ferdinand (Antalyaspor, free)

Michael Harriman (Gillingham loan)

Adel Taarabt (Fulham, loan)

Stephane Mbia (Sevilla, loan

Michael Doughty (Stevenage, loan)

Esteban Granero (Real Sociedad, loan)

Championship transfer roundup - Millwall

Millwall Club badge on the side of the main stand at The Den Credit: Stephen Pond/EMPICS Sport

Players in:

Jermaine Easter (Crystal Palace, free)

Stephen Bywater (Sheffield Wednesday, free)

Steve Morison (Leeds, loan)

Lee Martin (Ipswich, free)

Richard Chaplow (Southampton, free)

Nicky Bailey (Middlesbrough, free)

Scott McDonald, (Middlesbrough, free)

Shaun Derry, (QPR, loan)

Andy Marshall (Aston Villa, free)

Players out:

Chris Taylor (Blackburn, free)

Steve Mildenhall (Bristol Rovers, free)

Tamika Mkandawire (Shrewsbury, free)

Shaun Batt (Leyton Orient, free)

Conor Wilkinson (Bolton, Free)

Dany N'Guessan (Swindon, free)

Therry Racon, Maik Taylor (all released)

Championship transfer roundup - Charlton

Charlton Athletic club badge and logo at The Valley Credit: Matthew Impey/EMPICS Sport

Players in:

Mark Gower (Swansea, free)

Richard Wood (Coventry, free)

Marvin Sordell (Bolton, loan)

Simon Church (Reading, free)

Players out:

Salim Kerkar, Yado Mambo, Matt Taylor (all released)

Bradley Wright-Phillips (New York Red Bulls, free)

John Sullivan (Portsmouth, free)

Scott Wagstaff (Bristol City, free)

Danny Haynes (Notts County, free)

Ricardo Fuller (Blackpool, free)

Michael Smith, (AFC Wimbledon, loan)

Kevin Feely (Carlisle, loan)

Danny Hollands (Gillingham, loan)

Other clubs battle for Ba

Demba Ba ponders a future in London Credit: Daniel Hambury/PA Wire

Press Association Sport understands that Arsenal have made a bid to sign Demba Ba, but they face competition from other clubs for the Senegalese striker's signature.

It is understood that interest from West Ham and Newcastle has cooled recently, but other clubs are still in for the 28-year-old.

Arsene Wenger says he's confident that the Bale deal will start a 'domino effect' of transfers Credit: David Davies/PA Wire

Although Wenger may be sitting on a £70m warchest, he insists the club will not be held to ransom as the last-gasp shopping dash begins.

"I am not against spending. I am ready to pay what we can afford, even if it is a bit over the market (value) and as long as it is not crazy," he said.

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