The air is thick with desperation and millions of pounds today as football clubs across Europe race against the clock to finalise their squads before the transfer window slams shut at 2200 GMT. Manchester City are reportedly making a final push to bring Chelsea’s midfield maestro Enzo Fernandez to the Etihad Stadium, while rivals Arsenal are rumoured to be eyeing a swoop for striker Julian Alvarez.

Chelsea values the Argentine midfielder Fernandez at a staggering £120 million (about N180 billion). City, who recently saw their influential World Cup winner Rodri depart for Barcelona, and lost Bernardo Silva, Nico Gonzalez, and Tijjani Reijnders, are eager to bolster their midfield. A reunion with former Chelsea manager Enzo Maresca, who now leads City, might be a sweetener for Fernandez, who last season reportedly ruffled some feathers at Stamford Bridge by expressing a desire to join Real Madrid. Chelsea’s manager, Xabi Alonso, has notably kept Fernandez out of the squad for the last two matches, fuelling speculation about his imminent exit.

And it’s not just Fernandez. Manchester City are also expected to announce the signing of Everton’s talented 26-year-old Senegalese midfielder Iliman Ndiaye for a hefty £65 million (around N97.5 billion). Tottenham Hotspur had also been linked with Ndiaye, but it appears City has beaten them to the punch.

Meanwhile, the Gunners are not sitting idly by. Arsenal are keen on securing the services of Argentina striker Julian Alvarez. While Alvarez has reportedly shown a preference for a move to Barcelona, Atletico Madrid, his current club, might be tempted by a massive £128 million (nearly N192 billion) offer from Arsenal, especially if they want to avoid strengthening a direct La Liga rival. Alvarez himself has missed several training sessions and was notably absent from Atletico’s squad that defeated Sevilla last weekend.

Securing Alvarez would be a massive statement of intent from Arsenal, who are aiming to clinch their first back-to-back English league titles since the 1930s. But it’s not all incoming for Arsenal; young striker Ethan Nwaneri is reportedly heading to Borussia Dortmund on a season-long loan deal.

Across the league, Liverpool, who already splashed a colossal £123 million (around N184.5 billion) on Monday to sign French forward Bradley Barcola from Paris Saint-Germain, are still on the lookout for attacking reinforcements. Manager Andoni Iraola wants to add another winger as the club navigates life after the departure of their iconic star Mohamed Salah to Trabzonspor last month.

Crystal Palace’s Ismaila Sarr and Brighton’s Yankuba Minteh are rumoured to be on Liverpool’s radar. A potential transfer for either player could free up Dutch forward Cody Gakpo, who has attracted interest from both Manchester City and Tottenham Hotspur.

Young Liverpool playmaker Harvey Elliott is also set to depart Anfield. A loan move to Valencia is reportedly lined up for Elliott, following a disappointing spell at Aston Villa last season. Tottenham, having missed out on Ndiaye, are now reportedly eyeing a loan move for Chelsea winger Mykhailo Mudryk.

And the outgoing traffic from Manchester City might include winger Jack Grealish, who is expected to return to Everton on loan. Grealish had a spell with the Toffees last season and impressed before a season-ending foot injury in January. Everton are also close to finalising a £40 million (about N60 billion) deal to sign American forward Folarin Balogun from Monaco.

Finally, Newcastle striker Nicolas Woltemade is slated for a loan switch to Italian giants Juventus. It’s going to be a long and frantic night at the transfer desks, folks!