Real Madrid are keen to build on their Champions League and La Liga double success by tying down their young stars on new long-term deals and adding to Carlo Ancelotti's victorious squad.
Rivals Barcelona also have ambitious plans to get themselves back to the top and president Joan Laporta is confident they can start splashing the cash again after securing a lucrative sponsorship deal with Spotify.
They still want Robert Lewandowski from Bayern Munich and have also been offered the chance to sign Cristiano Ronaldo, whose future at Manchester United remains uncertain. Mirror Sport has rounded up the latest transfer news and rumours from around Europe.