Rumours: Van Gaal handed £220m, Lampard signs with Red Bulls, Fabregas to return

Frank Lampard has agreed terms with New York Red Bulls ahead of a move to the Major League Soccer club, after the England midfielder was told he will not be offered a new contract by Chelsea. (Sunday Times)

New Manchester United boss Louis van Gaal will be given a budget of £220m to secure his five key transfer targets, with injured Dutch midfielder Kevin Strootman his number one choice. (Mail, Express)

Liverpool and other interested parties will have to up their bids, with Southampton holding out for £30m for each of their coveted England internationals Luke Shaw and Adam Lallana. Liverpool have recently lifted their bid to £25m for 26-year-old midfielder Lallana, while Manchester United are linked with a move for 18-year-old left-back Shaw. (Express)

Liverpool's Glen Johnson is rumoured to be the target of a potential reunion with former Portsmouth and West Ham boss Harry Redknapp, who is keen to sign 29-year-old right-back for his newly promoted QPR side. (Daily Star)

It's all action for Arsenal, apparently, with Fiorentina's Juan Cuadrano one of three wingers the Gunners are chasing, along with Real Madrid's Angel di Maria and Pedro of Barcelona. To shore up the centre of midfield, Southampton's Morgan Schneiderlin is on the radar, while they make another bid for Real's young striker Alvaro Morata (Star, Telegraph)

The North Londoners are also going to bring former darling Cesc Fabregas back to the Emirates for £30m, with Barcelona open to the deal. (People)

Alternatively, the North Londoners are not going bring former darling Cesc Fabregas back to the Emirates, leaving Manchester City a clear path to snap up another ex-Gunner. (Telegraph)

Liverpool's Uruguayan striker Luis Suarez says he would find it "very difficult to say no" to a transfer offer from Real Madrid, according to his lawyer. (Independent)

Sunderland remain interested in Valencia midfielder Ever Banega, with manager Gus Poyet planning to watch the Argentine closely while he travels to Brazil as an ITV pundit. (Evening Chronicle)

Chelsea or Tottenham will have to pay at least £50m if they want to prise Moroccan centre-back Mehdi Benatia from Roma this summer. (Metro)