AS the end of the season draws nearer, the transfer speculation is starting to heat up, here Rebecca Murphy takes a look at today’s rumours.

The Daily Star are reporting that Real Madrid have given up faith on defender Alvaro Arbeloa and are looking at making a raid for either Tottenham’s highly rated young full back Kyle Walker or Liverpool’s Glen Johnson.

Madrid are hoping that a bid of �16 million will be enough to secure one of the two, but face a tough challenge trying to pry Walker, who was dubbed the new Roberto Carlos by the Spanish press after impressing against Spain for the Under-21s last summer, away from White Hart Lane.

The Daily Star also believe that Stoke are ready to make an offer for Wolves winger Matt Jarvis, as soon as Wolves’ Premier League fate is decided. Although the 25-year-old still has three years on his contract, if Wolves are relegated then they would be keen to get rid of their higher earners. If the one time England international makes the move then that could signal the end of Jermaine Pennant’s Stoke career with the player having several disciplinary run-ins with Tony Pulis.

Will Arsenal fans finally get what they’ve been wanting, Wenger spending money? The Daily Mail have reported that the Arsenal boss has instructed his chief French scout Gilles Grimandi to compile a dossier on Montpellier striker Olivier Giroud. The 25-year-old, who has scored 22 goals so far this season is rated at �50 million.

Additionally it is being reported that Arsenal have done a �10 million deal with FC Koln for Lukas Podolski.

Now Rennes midfielder Yann M’Vila, who was a target for Wenger last season, has admitted it would be hard to turn down a move to Arsenal.

While AC Milan midfielder Stephan El Shaarawy is also marked as a potential target for the North London club.

The Gooners have also been linked with Crewe sensation Nick Powell, along with Man City and Man United.

The 18-year-old attacking midfielder who is capped at England Under 16, 17 and 18 levels, has attracted admiration from the big boys after many superb performances this season – The Week With the First Post.

Liverpool are to have a mass exodus this summer with some big names expected to leave the club, according to the Daily Mail.

One surprising name being rumoured to be set to leave is Dirk Kuyt. Although the popular Holland forward has scored many important goals for Liverpool, including in the Carling Cup Final in February, he is no longer considered a regular starter. Fiorentina along with Roma, Turkish side Galatasaray and also his old club, Feyenoord have been linked.

Along with Kuyt, Argentina winger Rodriguez, who has made only 15 appearances this season, and Brazilian left back Aurelio who’s Liverpool career has been dogged with injuries, will also be allowed to move on.

Chelsea are ready to spend yet more money, this time on Argentinan international Angel Di Maria. The Real Madrid winger is unhappy with his current salary and is reportedly threatening to leave the La Liga giants at the end of the season unless they give him pay parity with some of his senior team-mates. Chelsea are ready to splash �35 million –The Sun.

With UEFA’s Financial fair play rules coming into play next season, Man City are ready for a clear out. Striker Roque Santa Cruz, who has failed to many any impact at Eastlands is available for just �1.5million and left-back Wayne Bridge is available for just �1m – The Week With the First Post.

Lastly, Man United forward Dimitar Berbatov is getting interest from Turkish side Galatasaray. The 31-year-old has been offered a one-year contract extension when his current deal runs out at the end of the season, but it looks likely that he will end his four-year association with the club, Football Gossip reports.