Transfer rumours and paper review – Sunday, July 2: Arsenal prime £125m swoop, Chelsea set to lose 20-goal star, plus more

Here are the top transfer-related stories in Saturday's newspapers...

Arsenal are preparing a £125m bid for Monaco forward Kylian Mbappe, 18, in an attempt to beat Real Madrid to his signature. (Sunday Mirror)

Bayern Munich manager Carlo Ancelotti appeared to open the door for the club to make a move for Arsenal forward Alexis Sanchez this summer by describing the 28-year-old Chilean as a "great player". (London Evening Standard)

Manchester City also want Sanchez, but Arsenal will not allow him to move to a Premier League rival. (Mail on Sunday)

City boss Pep Guardiola is prepared to let England keeper Joe Hart, 30, move to the club's local rivals Manchester United. (Sunday Express) 

Manchester United boss Jose Mourinho would still want to sign Everton striker Romelu Lukaku, 24, even if the Old Trafford club bring in Real Madrid forward Alvaro Morata, 24. (Sun)

Liverpool manager Jurgen Klopp could block Daniel Sturridge from leaving - because it will cost too much to replace the 27-year-old striker. (Sunday Mirror)

Arsenal midfielder Alex Oxlade-Chamberlain, 23, has rejected the offer of a new contract from the club and is willing to see out the final year of his deal with the Gunners and leave for free next summer. (Sunday Times)

Everton are planning a £20m move for Arsenal striker Olivier Giroud, who is also a target for West Ham and Marseille. (Sun)

Striker Diego Costa is on the verge of rejoining Atletico Madrid from Chelsea - but the 28-year-old will not be able to play until January. (AS)

Roma defender Antonio Rudiger, 24, dropped an enormous hint on Instagram that he is set to join Chelsea this summer. (Metro)

Chelsea are to sign Exeter City defender Ethan Ampadu, 16, and are negotiating a compensation deal with the League Two club. (Guardian)

Swansea City are on the verge of completing the £11m signing of 28-year-old Las Palmas playmaker Roque Mesa. (Sunday Telegraph)

The agents of Arsenal right-back Hector Bellerin have begun negotiations to get the 22-year-old Spaniard a transfer back to his old club Barcelona this summer. (Sport)

And here are the latest talkSPORT.com headlines...?

Former Arsenal midfielder Stewart Robson believes Gunners boss Arsene Wenger might be open to selling Alexis Sanchez because the player is a challenge to his authority

Everton target Michael Keane could complete a transfer away from Burnley as early as this weekend, according to the player’s agent Jamie Moralee

Everton have moved ahead of Sevilla in the race to sign Sampdoria's highly-rated forward Luis Muriel

Spanish side Celta Vigo are interested in taking Manchester City outcast Nolito back to the club this summer, according to reports in Spain

Former Liverpool star Pepe Reina is set to stay at Napoli this summer - despite interest from Newcastle

AC Milan are confident they will wrap up a deal for Arsenal and Tottenham target Hakan Calhanoglu - despite talks stalling over a transfer fee

Liverpool are tracking Sevilla goalkeeper Sergio Rico, according to reports in Spain