Manchester City have ended their pursuit of Riyad Mahrez following Leicester City's request of £95 million.

City had turned to the 26-year-old after they decided against signing Alexis Sánchez from Arsenal because of his proposed fee. 

City valued Mahrez at no more than £60 million.

Txiki Begiristain, City’s sporting director, balked at the price and decided Mahrez, who is contracted until 2020, was not worth the fee. The City executive felt the valuation was “crazy”.

Barcelona will pursue David Alaba of Bayern Munich during the summer transfer window.

Alaba can play left-back, center back or midfield.

Alaba signed a five-year extension with Bayern in 2016.

Manchester City has interest in signing Riyad Mahrez, but Leicester City has responded that it would only take a huge offer for them to accept.

Reports in France suggest City have submitted a bid of €68 million for Mahrez.

Mahrez has tried to leave Leicester previously, but was unsuccessful. 

Claude Puel has said it would take a bid of £100 million ($142 million) to sell Mahrez, who was bought in 2014 for £450,000.

Arsenal, Chelsea and Borussia Dortmund have agreed in principle to what is effectively a three-way transfer.

With Dortmund previously agreeing to sell Pierre-Emerick Aubameyang to Arsenal for £55.5 million, they needed a replacement striker and were interested in Michy Batshuayi of Chelsea. But Chelsea needed a backup striker behind Alvaro Morata to replace Batshuayi and have agreed to buy Olivier Giroud for £17.5 million. The £17.5m fee for Giroud is inclusive of add-ons.

Dortmund previously had interest in Giroud before moving onto Batshuayi. 

Manchester City have signed Aymeric Laporte of Athletic Bilbao for £57.2 million ($80.8 million). The transfer fee becomes a new record for City, eclipsing their £55 million transfer in 2015 with Wolfsburg for Kevin de Bruyne.

Laporte has long been a target for Pep Guardiola.

“I am very happy to be here,” said Laporte. “City are a club with a lot of ambition and they are one of the best teams in Europe. I am looking forward to working under Pep Guardiola and trying to help the club to achieve success. It means a lot that the club have shown faith in me and I am excited to get started.”

“We have assessed defensive options and he is a player we have admired for a long time,” said Txiki Begiristain, City’s director of football. “With his quality and ability to play out from the back, we feel Aymeric will fit in perfectly with Pep Guardiola’s playing style.”

“He’s played since a young age in La Liga so at a high level," said Guardiola. "He’s strong in the air and fast. He’s got good quality and we are delighted.”

Tottenham Hotspur have bought Lucas Moura from Paris Saint-germain for £25 million ($35.3 million).

Spurs and PSG held talks for several weeks over the 25-year-old forward.

PSG bought Moura from Sao Paulo in 2013 for approximately £38 million.

Moura played sparingly by Unai Emery with PSG.

Arsenal has agreed upon a £55.5 million ($78.1 million) transfer with Borussia Dortmund for Pierre-Emerick Aubameyang.

The deal is contingent on Dortmund finding a replacement before the end of the transfer window.

Aubameyang will sign a three-year deal worth £180,000-a-week.

Anthony Modeste, who joined the Chinese Super League club Tianjin Quanjian from Cologne last summer, has been mooted as a potential addition, but would cost around €30m(£26.4m).

Monaco has made Pietro Pellegri the second most expensive 16-year-old in history, signing him from Genoa for an initial fee of €20 million ($24.8 million).

“I am very happy to join Monaco,” Pellegri said. “I was very quickly convinced of the project that allows young people like me to progress and flourish in the future.”

Only Real Madrid has paid more for a 16-year-old when they signed Vinicius Junior from Flamengo last year for £39.6 million.

Pellegri became the joint-youngest player to play in Serie A when he made his debut in December 2016 at the age of 15 years and 280 days.

The LA Galaxy and Zlatan Ibrahimovic are moving closer to agreement on a contract.

Ibrahimovic has long been connected to the Galaxy and Manchester United's acquisition of Alexis Sanchez will further decrease his playing time.

If he does indeed make the move, will be signed with the help of Targeted Allocation Money, meaning he will not take up a Designated Player spot. 

Ibrahimovic suffered a setback on his knee at the end of December, but is reportedly due to resume training next week.

Jose Mourinho believes it is unlikely Manchester United will be able to tempt Cristiano Ronaldo to join the club.

Ronaldo is frustrated with Real Madrid over contract extension talks.

"I think with the moment Real Madrid is having now I think I should be the last one to add some fuel to the fire," Mourinho told a news conference

"Madrid is on fire, the results are not good and it's a club where I worked three years, I cared about the club, I am the last one to add fire.

"To put some water on the fire, Cristiano is the kind of player every manager and club wants but only one can have. That's Real Madrid, that's my feeling."

Ronaldo joined Real Madrid from United in 2009.