Chelsea goalkeeper Petr Cech is closing in on a move to Premier League rivals Arsenal, according to reports.
Cech, 33, is believed to have agreed personal terms in principle on a switch to the Emirates Stadium but it's understood the two clubs are still not close to agreeing a fee and negotiations will continue this week.
The transfer fee is unknown but it will be a cash only deal, with Chelsea's request to receive a home-grown player as part of the proposed transfer no longer being considered.
Meanwhile, Rio Ferdinand has branded the valuations placed on young English players "a joke".
The likes of Raheem Sterling and Harry Kane have been linked with big-money moves this summer, with Liverpool turning down a £40million bid from Manchester City for 20-year-old Sterling.
The Reds value Sterling at at least £50m.
But former England defender Ferdinand said the cost of English talent was excessive when compared to foreign players, highlighting the likes of Manchester City's Sergio Aguero and Alexis Sanchez of Arsenal.
He said on Twitter: "English players are soooo overpriced right now it's a joke! Kane & sterling have huge potential but 40m & 50m...aguero 38m & sanchez 32m!!!"
Ferdinand became the world's most expensive defender when he joined Manchester United from Leeds for £29.1m in 2002.