The transfer action is hotting up only weeks from the close of the summer window. Just days before the last remaining major European championships (Italy and Spain) kick off, there is no end to the spending in sight.

As a number of clubs see their new-look squads blighted by serious injuries to key players, many have been forced to delve back into the transfer market in the hope of unearthing a last-minute bargain. This is notably the case with reigning six-in-a-row French champions Lyon.

In the space of a few days the club has lost its first-choice goalkeeper Gregory Coupet, as well as Brazilian defender and team captain Cris, to long-term injuries. Their replacements are likely to be unveiled in the next few days.

For once, England's Premiership has been the busiest league in the transfer market. The latest big-name move involves Carlos Tevez, who has at last received the go-ahead to join reigning champions Manchester United. The 23-year-old Argentinian, who has finally been released by former employers West Ham United, has signed a two-year loan deal with the Red Devils worth three million euros. His arrival could not have come at a better time for coach Sir Alex Ferguson, whose star striker Wayne Rooney will be out of action for two months with a hairline fracture of the left foot.

Meanwhile, Chelsea are locked in negotiations with Sevilla in the hope of bringing international Brazilian defender Daniel Alves to London. The Andalusian club has already snubbed two offers, the latest estimated at 35 million euros. Since Jose Mourinho would appear to have his heart set on drafting the 24-year-old Alves into the right-back spot, negotiations are expected to continue up to the last minute.

Elsewhere in the capital, Fulham have snapped up Australian U-23 defender Adrian Leijer on a three-year deal from Melbourne Victory. The 21-year-old, who can play in the centre or as a wing-back, won last season's A-League with the Melbourne outfit.

Real Madrid go Dutch
The summer has been just as hectic in Spain, especially for Real Madrid. The Merengues have notably enlisted the services of two Dutch aces, attacking left-back Royston Drenthe from Feyenoord and 23-year-old former Ajax playmaker Wesley Sneijder. Drenthe will be tasked with filling the formidable boots of Brazilian Roberto Carlos, who joined reigning Turkish champions Fenerbahce at the start of the summer.

Sneijder, with 57 goals in 180 matches for Ajax Amsterdam to add to his 35 caps for the Oranje, has signed a five-year contract worth a total of 27 millions euros. The two Dutchmen are the fifth and sixth recruits to be unveiled at the Bernabeu this summer after Christoph Metzelder, Jerzy Dudek, Pepe and Javier Saviola.

Valencia's long search for a striker looks to be over. Los Che have finally opted for Serbian international Nikola Zigic, a towering target man whose ten goals last season helped Racing Santander to tenth spot in La Liga.

FC Sevilla will be delighted to have retained the services of Malian forward Frederic Kanoute. The French-born player, whose contract was due to expire in 2009, has extended his deal with the Rojiblancos until 2010. The pivotal forward was the club's top scorer last season as they clinched the UEFA Cup for the second year running.

Finally, Paraguayan international striker Julio dos Santos, who struggled to establish himself in the Bayern Munich first team last season, has been loaned out to Almeria for the coming campaign. The 24-year-old had previously spent the back end of last season on loan at VfL Wolfsburg.

In Germany, Wolfsburg have had the busiest summer of all the clubs in the Bundesliga. With newly arrived Portuguese defender Ricardo Costa sidelined for six months with a serious knee injury, Felix Magath has swooped for a replacement in Czech Republic U-20 team captain and Canada 2007 finalist, Jan Simunek.

The 20-year-old defender, who joins the Wolves from Sparta Prague, will feature alongside fellow new boy Josue. The midfielder, who recently lifted the Brazilian championship trophy with Sao Paulo, has arrived on a four-year deal worth 1.5 million euros.

Emerson courted by AC and Inter
Schalke 04 have also done their shopping in South America, recruiting Uruguay international Carlos Javier Grossmuller from Uruguayan champions Danubio. Meanwhile, Swiss midfielder Fabian Lustenberger has left FC Lucerne to sign a five-year contract with Hertha Berlin. The 19-year-old youth international will link up with compatriot Lucien Favre, who took over the reins as coach of the Blue Whites in early June, following the sacking of Falko Goetz.

Italian football fans have been following the protracted negotiations between AC Milan and Real Madrid over the signature of Brazilian midfielder Emerson. The discussions look to be heading nowhere, that is unless Inter Milan can manage to snatch him from under the noses of their arch-rivals. In the meantime, Real Madrid, who have been obliged to trim down their squad, have loaned out striker Antonio Cassano on a one-year deal to Sampdoria, who have an option to make the move permanent at the end of the season.

Over in France, Lyon are expected to loosen the purse strings once more as they look to rebuild a squad ravaged by injuries. Nevertheless, les Gones must first of all decide the futures of two unsettled players. Former Arsenal winger Sylvain Wiltord has been linked with a move to Paris Saint-Germain or former club Rennes, while Brazilian marksman Fred has also expressed the desire to move on.

RC Strasbourg seem to have pulled off a coup in signing Wason Renteria on loan from FC Porto. The 22-year-old Colombian forward scored a brace on his Ligue 1 debut against Auxerre.

Having scored ten goals in 101 appearances for the Netherlands, Phillip Cocu is also one of the most successful Dutch players in history, with four Dutch Championship titles and another in Spain (with Barcelona). The 36-year-old Eindhoven-born player has chosen to see out his distinguished career in the United Arab Emirates, joining Al-Jazeera on a one-year deal.

On a final note, much-travelled Brazilian forward Mario Jardel has headed to Australia's A-League on a one-year contract with the Newcastle Jets. The globe-trotting forward, who has been capped ten times by his country, spent last season in the Cypriot top flight with Anorthosis Famagusta. This latest switch caps a cosmopolitan career which has seen the journeyman striker turn out for 12 different clubs spanning South America, Europe and now Oceania.