Here is a look at the latest transfer rumours from around the football world.

In pics: here is a look at the latest rumours

Phil Brown is set to present Michael Owen representatives with a financial package that he hopes will entice the England International to join Hull within the next week.

The former Liverpool and Real Madrid striker is out contract at Newcastle at the end of the month, and Owen confirmed he would be leaving the Championship side.

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Liverpool are close to completing the signing of Glen Johnson from Portsmouth for a fee of around £18m, but the club could be set to lose midfielder Xabi Alonso.

In pics: here is a look at the deals already done

The Spanish star is wanted by Real Madrid and if a move to the Bernabéu he could be joined by one of his Liverpool teammates.

Real director general Jorge Valdano was quoted as saying on Tuesday and they are also considering a move for full-back Alvaro Arbeloa.

Italian giants AC Milan claim to have turned down a 'monumental' offer for Alexandre Pato. The London club have been strongly linked with an interest in both the young Brazilian forward and Italy's World Cup-winning playmaker Andre Pirlo

But there could be some movement between Chelsea and Milan as midfielder Deco revealed he is unhappy at the Premier League club and wants to join Inter Milan.

But one player who will not be leaving Stamford Bridge is French winger Flourent Malouda, he has signed a new two year deal at Chelsea.

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