French club PSG have signed striker Edinson Cavani from Napoli for a reported fee of around £55million.

The Uruguayan has signed a five-year contract with the club from the French capital, after being linked with moves to Chelsea and Manchester City.

Napoli could replace the Uruguayan with Real Madrid’s Argentinian striker Gonzalo Higuain, according to president Aurelio De Laurentis.

Higuain has been heavily linked with Arsenal, but the Gunners could be beaten to the signature of the player by the Azzurri.

According to the Daily Mail, Arsenal could be set to lose star midfielder Santi Cazorla this summer, with Atletico Madrid hot on his trail. Atleti have money to spend from the sale of Radamel Falcao and could use that to prise the talented playmaker back to his homeland this summer.

Sunderland striker Danny Graham is set to seal a season-long loan move to Premier League newcomers Hull, according to Sky Sports. Graham had been linked with a move to the Tigers and the deal seems to have now come to fruition.

Sunderland have continued the re-shaping of their squad by completing the transfer of Italy international Emanuele Giaccherini, for a fee reported to be around the £7.6million mark. The midfielder arrives from Italian champions Juventus.

According to Sky Sports, Manchester United have turned down a bid for England striker Wayne Rooney from Premier League rivals Chelsea. Swap deals involving David Luiz and Juan Mata have even been mooted.

The striker is believed to be unsettled at Old Trafford, after David Moyes told him he was the clubs second striker behind Robin van Persie.

The likes of Barcelona and Manchester City have also been linked with the former-Everton ace, despite the fact that United have stated that Rooney is not for sale this summer.

Will Wayne Rooney sign for Chelsea?