Transfer rumours and news: LIVE updates on Fabregas, Diego Costa and other potential deals

The World Cup may be getting underway next week, but that hasn't stopped a number of clubs doing business this week

9:29 am

Swansea certainly seem happy about Leon Britton's contract extension.

9:06 am

Alan Nixon

More on David Ospina

The 25-year-old is one of a small group of candidates Arsenal will choose one from in the coming weeks.

Wenger wants competition for Wojciech Szczesny after losing Lukasz Fabianski to Swansea, and the Colombian is emerging as a leading option.

The athletic Ospina has been with Nice for six seasons and recently renewed his contract, but they will sell him. Ospina has won more than 40 caps and had the best record in the South American qualifiers.

9:02 am

Alan Nixon

Arsenal will watch Colombia World Cup keeper David Ospina - as Arsene Wenger puts him on his signing shortlist.

The Gunners have been checking on Ospina while he plays in France for Nice, but now they are poised to decide as he performs on the biggest stage of all.

Ospina is available for around £3.5million and the clubs have discussed a potential deal in the window.

8:28 am

Contract signed!

Our first bona fide business of the day, ladies and gents.

Swansea City midfielder Leon Britton – the Xavi of the Valleys – has penned a one-year contract extension that will take him through to 2017.

Congrats to all involved.

8:12 am

David Anderson

City have been tracking Fernando since last season and failed with a move in January.

They were always confident of landing the Brazilian-born holding midfielder, who now has Portuguese citizenship, even though he signed a contract extension until 2017 in February.

Fernando, 26, is not part of Portugal's World Cup squad because FIFA refused him clearance to switch national allegiance and is free to travel to Manchester for his medical.

City also want his Porto clubmate Eliaquim Mangala, but the coveted French centre-half wants to decide his future after the World Cup.

7:54 am

David Anderson

Manchester City are closing in on the £15million capture of Fernando from Porto.

The 26-year-old is City's top midfield target and the club's transfer brokers - chief executive Ferran Soriano and director of football Txiki Begiristain - are tying up the deal.

Soriano and Begiristain are free to focus on Fernando after sealing David Villa's move to the Blues' American franchise, New York City FC.

7:43 am

Photo interval!

Lot's of pictures of England's World Cup camp in Rio de Janeiro here:

7:31 am

John Cross

More on that Diego Costa deal

Chelsea have already agreed terms, and the 25-year-old is keen to complete the move before the start of the World Cup.

The deal could be worth as much as £50m with Costa's total package and will represent Chelsea's stellar signing this summer.

That will be a major boost for the Blues, where manager Jose Mourinho keen to bring in another striker besides Costa with Demba Ba set to leave, although Fernando Torres wants to stay and fight for his place.

Mourinho is also targeting a midfielder with Costa's Atletico team-mate Koke top of his wish-list but Barcelona's ex-Arsenal captain Cesc Fabregas is a real possibility.

7:20 am

John Cross

Diego Costa could be confirmed as a £35million Chelsea signing by the end of this week.

Atletico Madrid striker Costa has returned to training with Spain's national team ahead of the World Cup.

That will clear the path for the west Londoners to complete a medical which has been held up by the hamstring injury which knocked him out of last month's European Cup Final loss to Real Madrid.

7:11 am

How time flies, dear reader.

It seems like only yesterday that we were gearing up for the Champions League final, hoping upon hope that Diego Costa's hamstring would hold out enough for him to be able to play a part.

Now here we are, just a week away from the start of the World Cup. THE WORLD CUP. It's ridiculously exciting.

Diego Costa still isn't out of the news, however: he's just returned to training for Spain, leading us to believe he could complete his mooted transfer to Chelsea in the coming days.

For the latest on him, Cesc Fabregas, Alberto Moreno and others, stay with us here throughout the day.