8am Transfer Talk Update: Wayne Rooney, Gareth Bale, Luis Suarez

Following another hectic day in the summer transfer window, Sports Mole looks at the latest news and gossip.

Wednesday morning's headlines:

Liverpool reject £40m bid from Arsenal for Luis Suarez? Liverpool reportedly reject an improved bid of £40m from Arsenal for striker Luis Suarez.

Real Madrid offer £70m plus Fabio Coentrao for Gareth Bale? Real Madrid reportedly offer Tottenham Hotspur £70m plus left-back Fabio Coentrao for Gareth Bale.

Clive Allen: 'Daniel Levy has final say on Gareth Bale future' Clive Allen says that Daniel Levy will have the final say on whether Gareth Bale stays at Tottenham Hotspur this season.

Andre Villas-Boas: We're "counting on" Gareth Bale staying Tottenham Hotspur manager Andre Villas-Boas says that the club are "counting on" Gareth Bale staying with the club.

Wayne Rooney only thinking of Arsenal if Chelsea bid fails? Manchester United striker Wayne Rooney is reportedly only willing to move to Arsenal if a transfer to Chelsea fails to materialise.

Manchester City want £6m for Aleksandar Kolarov? Manchester City reportedly want £6m for Serbian left-back Aleksandar Kolarov.

Roma official Walter Sabatini flies in for Gervinho talks? Roma director Walter Sabatini reportedly flies in for talks with Arsenal over the transfer of forward Gervinho.

Report: Pepe Reina to undergo Napoli medical Liverpool goalkeeper Pepe Reina will reportedly fly to Italy to undergo his medical with Napoli on Wednesday ahead of his proposed loan move.

Report: Manchester United's David Moyes mulling over Marouane Fellaini move Manchester United boss David Moyes is mulling over a decision to make a £22m bid for Everton midfielder Marouane Fellaini to trigger his release clause, according to a report.

Sunderland boss Paolo Di Canio: 'We need to sign three more players' Sunderland manager Paolo Di Canio reveals he wants to sign three more players before the close of the transfer window.

Neil Lennon: Gary Hooper sale would take "sizeable offer" Celtic boss Neil Lennon reveals that it will take a "sizeable offer" for the club to sell striker Gary Hooper this summer.