Transfer Gossip column: Liverpool moves in for disgruntled Walcott

This is not the place for legitimate reports and completed deals. Here, we compile the ludicrous transfer rumours that arise during this month of madness in the football world. Each day until the summer transfer window shuts, theScore will provide a rundown of the most outlandish babble from the backpages, briefing you on the transfer gossip throughout Europe.

Here's what the rumour mill is churning out today:

City closing in on Sane transfer

Manchester City looks set to dip into the German market once again, after reportedly agreeing to pay FC Schalke 04 up to £40 million for wonderkid Leroy Sane.

The Sun reports that the two sides have agreed on a fee after City and the Bundesliga side's initial dialogue, which began earlier this year.

The 20-year-old could become the second German international to join City after Ilkay Gundogan left Borussia Dortmund and signed on to join Pep Guardiola during his debut season in the Premier League.

Pjanic's arrival at Juve could open door for Pogba exit

Miralem Pjanic's arrival at Juventus appears to have paved the way for Paul Pogba to leave Turin. According to The Sun, signing Pjanic from Roma could have a domino effect and speed up the process of selling the French international to Real Madrid.

Pogba's agent has also reportedly engaged in contract talks with the defending Champions League title holders. But negotiations have been far from smooth as agent Mino Raiola and Real director Angel Sanchez struggle to find common ground when it comes to the player's wage demands.

Liverpool prepares bid for Arsenal's Walcott

Theo Walcott is reportedly eager to leave Arsenal after a season where he struggled to find regular playing time under Arsene Wenger, with Liverpool offering the winger a way out of north London.

The 27-year-old apparently held talks with Wenger after the season and was informed that the experiment to deploy him as a centre forward would no longer continue. Walcott is now looking for a fresh start, and is eager to join Liverpool, The Sun reports.

Alex Iwobi's impressive season is another indication, according to the report, that Walcott's playing will continue to be limited.

West Ham rejects Chelsea's advances for Payet

Chelsea has been told to end its interest in Dimitri Payet after city rivals West Ham vehemently rejected an approach for the "priceless" French international.

The Mirror reports that Chelsea scouts have tried to persuade incoming gaffer Antonio Conte into making a move for Payet, whom West Ham acquired from Marseille last summer for, in hindsight, the bargain price of £10.7 million.

The report adds that West Ham may consider selling Payet in order to complete a transfer for another Frenchman, after Lyon rejected the east London side's £32-million offer for striker Alexandre Lacazette.