Manchester United end Harry Kane pursuit with Tottenham, £40 million Mason Mount bid rejected by Chelsea – Paper Round

Man Utd’s double disappointment

Manchester United have ended their pursuit of Harry Kane this summer due to the fact that it would cost an astronomical fee to convince Tottenham Hotspur chairman Daniel Levy to part ways with his prized asset. United are willing to wait until next summer when Kane’s contract in north London expires. The Red Devils are willing to turn their attention to highly-rated Atalanta forward Rasmus Hojlund.

Elsewhere, the Red Devils have had an initial £40-million bid rejected for Mason Mount by Chelsea, despite the fact that they reached an agreement on personal terms with the player at the end of May.

“United are still keen to sign the Atalanta forward Rasmus Hojlund, who has had an impressive first season in Serie A after joining from Sturm Graz. Atalanta could, however, ask for as much as £50m for the Dane.

“United have not agreed a fee for Mount and Chelsea are expected to demand at least £60m for the 24‑year‑old.”

Arsenal willing to spend £60m on Havertz

Arsenal are ready to take advantage of Chelsea’s position in the transfer market this summer by swooping for Kai Havertz. The Blues have to sell a number of first-team players this summer due to their bloated squad. Chelsea could part ways with Havertz as he only has two years remaining on his current contract and it is unknown whether he would be willing to sign an extension at Stamford Bridge.

“Importantly, Havertz is keen to move across London if Arsenal and Chelsea can reach an agreement over a transfer fee. Havertz is aware of Arsenal’s interest.

“Chelsea are playing hardball over their valuation of Havertz and want a minimum of £70million for the forward, who has two years left to run on his existing deal. Arsenal are hopeful they can strike a deal closer to £60million – inclusive of add-ons.”

Barca identify Busquets replacements

Barcelona have moved on from Real Sociedad midfielder Martin Zubimendi after the club were unable to meet his release clause. The Spanish champions have identified two names as potential replacements for long-standing club servant Sergio Busquets: Joao Palhinha and Florentino Luis. Barca will attempt to use their unwanted players in a package to sign a new defensive midfielder ahead of next season.

“[Palhinha’s] market valuation is €35 million, but Fulham look set to ask for around €50 million, although they would be willing to talk about trades.

“[Luis] has a termination clause of €120 million, but the Portuguese club could sell him for around €40 million and could also be interested in one of Barca’s discarded players.”

Newcastle mean business

Newcastle United are close to completing a shocking swoop which would see Inter Milan midfielder Nicolo Barella join the Magpies for £50 million. The 26-year-old, who recently played in the Champions League final for Inter, is set to become the marquee summer signing for Newcastle as the club embark on their first campaign in Europe’s elite competition since 2002-03.

“Telegraph Sport understands that Newcastle have earmarked the majority of their transfer budget to sign two midfield players, with Leicester City’s James Maddison the other main target.

“Newcastle’s pursuit of Maddison remains ongoing and there is a growing optimism they are edging close to reaching a compromise on the fee. The recently relegated Championship club have been asking for £60 million, but Newcastle are not willing to pay that amount and also face rival interest from Tottenham Hotspur.”