Top five transfer rumours: Kaka set for Arsenal move, Liverpool move for four signings, Barry heading to Merseyside

Kaka could be heading to England. Photo: PA

Happy transfer window deadline eve. Just what is going to happen over the next two days? Will Arsenal spend their war chest? Will Man Utd finally sign a playmaker?

Mr. Wenger has left it late again - but could please fans by pulling off a double swoop for Real Madrid midfielder Kaka and German wonderkid Julian Draxler (Mirror)

Or fans could be left wondering what could have been as the Gunners could end up with Saloman Kalou (Mail)

Manchester United are desperate to add some steel to midfield and are set to return with an improved offer for Ander Herrera of Athletic Bilbao after their initial bid was turned down (Mail)

Liverpool are set to embark on a £25m spending spree with the arrivals of defensive duo Mamadou Sakho and Tiago Ilori as well as a short term deal for Shay Given and Victor Moses on loan (Telegraph)

And finally, Gareth Barry is prepared to take a pay cut to force through a move to Everton (Mail)