Transfer news LATEST: Manchester United, Arsenal, Chelsea and Liverpool latest plus the rest from Europe

That's it for Friday's edition of Transfer News Live. 

Thanks for being with us on a day where Philippe Coutinho stunned Liverpool by handing in a transfer request, as he looks to force through a move to Barcelona.

Join us again tomorrow for more of the same, as we keep you updated with all the latest news from the Premier League and Europe.

Manuel Lanzini is 'happy' to remain at West Ham, according to his manager Slaven Bilic.

Lanzini has thrived with the Hammers since joining two seasons ago, initially on loan, from United Arab Emirates outfit Al Jazira and previously courted interest from Liverpool.

But Bilic says Lanzini will stay with the club: 'He is one of our key players, a great lad and he knows his situation. I know for sure that he is happy here.'

CRAIG HOPE: Newcastle owner Mike Ashley says he does not have the money to allow Rafa Benitez to compete with the Premier League’s top teams and the manager must work with the limited funds the club generates.

‘It (the transfer fund) is not enough. Very simply, it’s not enough. Rafa knows that, it’s not enough, it’s not a secret,’ said Ashley.

‘Every penny the club generates, he can have - but it won’t generate enough. It’s Newcastle United, it doesn’t have a £40m name stadium rights deal - it doesn’ t.

‘In theory, you could say I’m a billionaire, a multi-billionaire. But in reality my wealth is in Sports Direct shares. They are the same as wallpaper. I don’t have that cash in the bank. So I don’t have that ability to write a cheque for £200m, I don’t have it. It’s very simple, it’s not there. I would have to sell the Sports Direct shares to fund that.'

Arda Turan is nearing the exit door at Barcelona, according to Spanish outlet Mundo Deportivo. 

Galatasaray have emerged as a possible destination for Turkey international Turan, though they are willing to pay just £9million. 

Turan came through the youth system at Galatasaray and progressed into their first team set up before joining Atletico Madrid in 2011.

Middlesbrough have completed the loan signing of Chelsea midfielder Lewis Baker. 

The 22-year-old, who spent last season in Holland with Vitesse, has joined Championship outfit Middlesbrough to gain further first team experience.

Baker previously played in the Championship during a loan with Sheffield Wednesday in 2015, he has also had a temporary spell at MK Dons.

Geoffrey Kondogbia has reportedly skipped Inter Milan training as he edges closer to the San Siro exit door. 

L'Equipe report that the midfielder, who has attracted interest from Arsenal, Tottenham and Liverpool in the past, failed to report for training on Friday. 

The France international is now expected to leave Italy, with Valencia one of the sides linked to the 24-year-old.

JACK GAUGHAN: Manchester City manager Pep Guardiola has overseen the largest summer spend in British history but claimed transfer finances are 'unsustainable'.

Guardiola, who has signed 11 players at a cost of £400million in just over a year in charge at City, said: 'It's unsustainable. Hopefully next season I'll be here and we're not going to spend how we spent again, I can assure you of that.

'The last six, seven years City never bought full backs. We had to buy three and the market is so demanding for teams all around the world.

'It's going to finish. The next three or four years City will buy one, two maybe three players. We needed to do it [this summer] because we were one of the oldest teams in Europe.'

MATT BARLOW: Mauricio Pochettino has promised to make signings before the market closes at the end of August after Danny Rose criticised Tottenham's transfer policy.

Pochettino said: 'If you see the last five years, Tottenham always spend money and sign players at the end of the transfer window. I don't understand why it's a big issue now.

'We will add players who can strengthen the squad. We will work hard until the end to add more possibilities to have in the future. With the players we have we can compete in a very good way.

'Of course, we will sign, like every season, maybe on the last day. We will sign players we believe can help us to challenge for the things we want to challenge for.'

MATT BARLOW: Tottenham have made their move for Pape Cheikh Diop although they face strong competition from Lyon for the highly-prized young midfielder from Celta Vigo.

Spurs, yet to make a signing in this summer, trailed Pape Cheikh carefully for months before making an official approach this week.

The delay may prove costly because Lyon have been pushing ahead with plans to complete a deal for a player who has a release clause in his contract close to £25m.

Roma's sporting director Monchi has announced the club will not make any further bids for Riyad Mahrez and will instead wait to see whether their reported £32million offer is enough to sign the Leicester winger.

'In the last press conference I said we had bid what we believe to be a fair offer, which is also the biggest in the club's history,' Monchi told Roma's official website. 'We won't bid again. We've conducted ourselves in the right way by talking to Leicester City. Now the ball is in their court. 

'We're waiting for an answer. We're working on other options but we're relaxed given our squad is 90 per cent complete,' he added.

Newcastle are chasing a deal to sign Josuha Guilavogui from Wolfsburg, according to German outlet Bild.

Rafa Benitez has been left frustrated by Newcastle's failure to land transfer targets this summer ahead of a season back in the top flight. 

But Bild are reporting that Newcastle are now looking to make a move for France international Guilavogui, who plays predominantly as a defensive midfielder.

BEN CHURCH: Kylian Mbappe should ignore interest from around Europe and stay at Monaco, according to Eric Abidal.

'It's true that he made the last six months amazing with Monaco,' Abidal said to the BBC. 'He reached quickly a high level, but football is complicated. You have to confirm next season his level, play a big competition like the World Cup with the national team, if you have an opportunity.

'After that he will be able to move in a big club like Real Madrid because everyone says he likes Real Madrid and Real Madrid is a good one for him... right now Monaco is the best club for him'.

JACK BEZANTS AND DOMINIC KING: Philippe Coutinho has rocked Liverpool by handing in a transfer request on the eve of the new season.

The Brazil international wants to join Barcelona and in an attempt to force through his move, he informed Liverpool of his wish to quit Anfield via an email.

Liverpool had denied initial reports that Coutinho had expressed a wish to leave but it has now emerged that the 25-year-old submitted his intentions sometime after Jurgen Klopp's scheduled pre-match press conference.

Roma have not yet conceded defeat over a move for Leicester winger Riyad Mahrez. 

The Serie A outfit have seen bids rejected by Leicester this summer with Foxes manager Craig Shakespeare refusing to sell unless they receive a suitable offer.

But Gazzetta dello Sport report that Roma are still pursuing Mahrez as they seek to replace Mohamed Salah, who was sold to Liverpool earlier this summer.

Stoke have completed the permanent signing of Bruno Martins Indi from Porto for £7million. 

Martins Indi spent last season on loan with the Potters and joins Mark Hughes' side after they beat off competition from Crystal Palace for his signature.

They announced the deal in typically modern fashion by tweeting a bizarre video - involving a photographer lurking outside their training ground.

Valencia are pursuing Arsenal defender Gabriel Paulista to replace the outgoing Ezequiel Garay, according to Superdeporte. 

Garay is set for a move to Spartak Moscow and Valencia are in need of a replacement at centre back after opting against signing Eliaquim Mangala on a permanent deal following his loan from Manchester City. 

And Valencia boss Marcelino is keen on Gabriel, who he coached during their spell together at Villarreal.

Chris Hughton insists Brighton can hold their own in the Premier League by targeting 'middle market' signings while the big clubs flex their financial muscle.

Brighton have broken their club transfer record twice in one week to draft in Davy Propper from PSV Eindhoven and Club Brugge's Jose Izquierdo, subject to medical and international clearance.

'Given the transfers, I think what you do is you try to assess almost a middle market,' said Hughton. 'There are some transfers that have gone ahead so far that are so above our levels you almost have to disregard them'. 

JACK BEZANTS: Liverpool have denied receiving a transfer request from Philippe Coutinho, hours after Fenway Sports Group insisted the 'definitive stance' is that he will not be sold.

Reports that Coutinho has signalled his desire to quit Anfield emerged hours after Liverpool's owners moved to clarify their stance on Friday morning after rejecting a £90m offer from Barcelona on Wednesday.

WILL GRIFFEE: Danny Rose has apologised for an interview in which he complained about his low wages and insinuated he would be happy to leave Tottenham. 

The left-back's PR agency released a statement on Rose's behalf, offering contrition for what he deemed 'ill-judged' words. 

The statement read: 'Having had time to consider my actions, I acknowledge now that the timing and manner of what I said was ill-judged. 

BEN NAGLE: Barcelona are considering a move for Marco Asensio if they cannot sign Philippe Coutinho or Ousmane Dembele this summer - but the Real Madrid starlet has a £72million release clause.

It is no secret that Barcelona's primary target to replace PSG-bound Neymar is Coutinho, but Liverpool released a statement on Friday insisting he will not be sold.

Dortmund are also putting up a fight to keep hold of their young talent Dembele, and Diario Gol are now reporting that Asensio could be next on the list.

Queens Park Rangers have signed Brighton winger Kazenga LuaLua on loan. 

LuaLua spent a portion of last season on loan with the Loftus Road club and has now rejoined until January. 

Rangers boss Ian Holloway said he was thrilled to see the return of the winger: 'I am absolutely delighted to have Kaz back'.

JOHN MCGARRY: Celtic coach John Kennedy has told Manchester City that Patrick Roberts will return to the Etihad a better player if the Scottish champions sanction another loan deal for the winger.

Kennedy is adamant that another year in Glasgow – with the guarantee of European football – would be the best environment Roberts could wish for.

‘I think you just need to look at how much he has improved in the last 18 months,’ said the first-team coach. ‘We’re going to be in Europe this season again. When we sent him back they will have seen he was a much-improved player. Hopefully they will look at it from that perspective, but it’s their call.

‘Patrick could maybe influence that and they could have a chat about it but we have to take a back seat and be patient. I’m not sure what Man City’s thoughts are.’

Manchester United and Chelsea are targeting Barcelona utility man Sergi Roberto, according to Spanish outlet SPORT.

SPORT report that the Premier League rivals are ready to trigger Roberto's £36million release clause at the Nou Camp and will do battle over his signature.

Roberto, who filled in at right back for most of last season, has also attracted interest from Serie A champions Juventus.

DANIEL SHELDON: Want-away captain Virgil van Dijk will miss Southampton's Premier League opener at home to Swansea on Saturday with 'illness,' new manager Mauricio Pellegrino claims.

Defender Van Dijk, 26, made his desire to leave public this week after handing in a written transfer request in a last-ditch attempt to force through a move to Liverpool.

Pellegrino said on Friday: 'He won't be available this weekend as he had some trouble with a virus and hasn't trained the last two days.

LAURIE WHITWELL: Mark Hughes has told Swansea to give up any thoughts of prising Joe Allen away from Stoke after Paul Clement’s side made an enquiry for the midfielder.

Swansea asked Stoke whether a transfer could be possible to bring Allen back to the Liberty Stadium five years after his departure, with Gylfi Sigurdsson expected to join Everton.

But Hughes made clear Stoke would not countenance losing the Wales international, who starred as a No 10 following his £13million move from Liverpool last summer.

WILL GRIFFEE: PSG are on the brink of adding wonderkid Kylian Mbappe to their ranks after reaching 'complete agreement' in a £163m deal for the striker.

Spanish publication Marca report that there is no turning back and the Parisians have secured Mbappe from under the nose of Real Madrid. 

It is understood that both sides are exchanging documentation but the deal for one of Europe's most exciting young talents has been finalised in principle.

SAMI MOKBEL: Hull have rejected a £5million offer from Burnley for Sam Clucas.

Clarets boss Sean Dyche is wasting no time in trying to spend the money from the £18.5m sale of Andre Gray to Watford.

Clucas, 26, was a bright spark for the Tigers last season despite their relegation from the Premier League.

Swansea have omitted Gylfi Sigurdsson from the squad to face Southampton on Saturday as the saga over his proposed transfer to Everton continues.

Sigurdsson has attracted bids from Everton this summer but the Toffees have yet to meet Swansea's asking price for the midfielder. 

JACK BEZANTS: Liverpool owners Fenway Sports Group have released a statement insisting that Philippe Coutinho will not be sold to Barcelona.

A £90million bid for the Brazil international was rejected on Wednesday as Barcelona continue to pursue Coutinho after losing Neymar to Paris Saint-Germain.

FSG said: 'We wish to offer clarity as regards our position on a possible transfer of Philippe Coutinho.

'The club’s definitive stance is that no offers for Philippe will be considered and he will remain a member of Liverpool Football Club when the summer window closes.'

DOMINIC KING: Ronald Koeman has warned Tottenham that they must be prepared to pay 'a big deal' if they are serious about signing Ross Barkley.

Everton's midfielder is back in training after hernia surgery and manager Koeman, who hopes his summer-long pursuit of Swansea's Gylfi Sigurdsson will soon be concluded successfully, has raised the possibility of Barkley seeing out the remaining 11 months of his contract.

It is something of a change of heart from Koeman, who last month said that Barkley had played his last game for Everton. The 23-year-old wants to leave Goodison Park, having turned down the chance to sign a new contract worth more than £100,000 per week.

SAMI MOKBEL: Tottenham stars are lining up to leave because of the club’s rigid pay structure.

Left back Danny Rose rocked the club in a newspaper interview on Thursday in which he insinuated he would be happy to leave, and questioned the club’s lack of spending on wages and new signings.

Rose, thought to have been fined two weeks’ wages and forced to apologise for the timing of his comments, signed a new £65,000-a-week deal last September and is unlikely to be angling for a new contract at the club.  

Spurs’ top earners, striker Harry Kane and goalkeeper Hugo Lloris, both earn in the region of £110,000 a week — way below the wages of the Premier League’s elite.

DOMINIC KING: Jurgen Klopp has told Barcelona in the most emphatic terms that no amount of money will convince Liverpool to sell Philippe Coutinho.

'From a financial standpoint, there is no price limit to let him go or a price that we are ready to give in,' Klopp said in an interview broadcast on Sky Germany. 'Our goal is to have the best possible team. So we want to keep our guys and add new ones. That is our plan.

'No player on the planet is untouchable. But a transfer is also a question of timing and if you have the opportunity and the need to react to such a transfer. Also you have to ask, if you have the time to react.'

The Premier League is back in business. It all kicks off tonight with a Friday night football clash between Arsenal and Leicester at the Emirates.

But there is still time for Premier League and European clubs to get business done with the transfer window remaining open until the 11pm deadline on August 31.

Liverpool are desperately trying to fend off interest from Barcelona in midfielder Philippe Coutinho, while Arsenal have offered Alexis Sanchez a new £300,000 a week contract in a bid to keep their Chilean talisman.

Stay with Sportsmail's Transfer News Live for all the latest.