Stay up to date with all the comings and goings in the transfer window with CNN.com's daily wrap of the latest rumors and gossip from Europe's sports pages.

Manchester City may move into a bidding war with Arsenal for Russia playmaker Andrei Arshavin.

LONDON, England – FINALLY!!

After weeks of speculation, talks and unprecedented offers, Kaka has finally ruled out a move to Manchester City – meaning the football world can catch its breath and move forward.

At least you would hope so.

However, Gazetta dello Sport today suggests that Real Madrid could still launch a bid for the 26-year-old that may question his certainties about AC Milan more than a move to Manchester City would have.

Do you think Kaka made the right decision to stay at AC Milan? Have your say in the Football Fanzone debate.

With the Kaka saga at least over for City, and Craig Bellamy now in the bag, they are still looking for new blood at Eastlands, and The Sun reports that Newcastle United goalkeeper Shay Given is top on the target list. I guess for Given it's just a question of which relegation battle he fancies fighting.

The defending English Premier League champions Manchester United meanwhile are believed to be interested in Wigan's Antonio Valencia – according to the Daily Telegraph; while the Daily Mail says Sir Alex Ferguson wants to place a bid for French 16-year-old Yven Moyo.

The Times says Arsenal are one step closer to signing Zenit St Petersburg's Andrei Arshavin, however, it also reports Manchester City may now make a move for the Russian star. With the crazy money City have been throwing around so far, Arsene Wenger may be worried that City involvement will see Arshavin become too expensive.

Various media also report that Blackburn manager Sam Allardyce has put a £40 million price tag on Paraguay striker Roque Santa Cruz. He clearly doesn't want to lose him as the relegation battle intensifies.

Posted by: CNN Sports Writer, Mike Steere
Filed under: Football