Manchester City set to activate Lionel Messi's release clause of €300 million and other transfer news and rumours of the day - 20th August, 2017

Hello and welcome to Sportskeeda's latest transfer news and rumours roundup. Today's stories feature the latest update on some of the major happenings in world football which may change the complexion of a few clubs. So let's head right in and take a look at the major happenings across Europe that made headlines on August 20, 2017:

Premier League

Manchester City ready to activate Lionel Messi's release clause

In a sensational claim by Yahoo Sports, Pep Guardiola has requested the City hierarchy to activate Lionel Messi's release clause of €300 million. The Argentine international is said to be frustrated by the club's inactivity to replace Neymar and has therefore not signed a new deal. This rumour has gathered pace after Manchester City chairman, Sheikh Mansour reportedly told the fans that the club is working on a world record deal this summer.

Chelsea make an enquiry for Toby Alderweireld

The Sunday Times have reported that Chelsea have enquired about Toby Alderweireld's services. Antonio Conte wants a centre-back before the end of transfer window and wants to take advantage of Alderweireld being unhappy with his salary at Spurs. The Belgian earns £50,000 per week currently and is reportedly miffed with the fact that he is one not of the club's highest earners.

Serie A

Joao Cancelo is on his way to Inter Milan

Juventus in for Renato Sanches

After having a €75 million bid rejected for Real Madrid's Matteo Kovacic, Juventus are set to pursue an interest in Renato Sanches. The Bayern Munich midfielder is not in Carlo Ancelotti's plans this season with the club searching a buyer for the youngster. Bayern are ready to let Sanches go even on a loan or have set a price of €40 million for the Portuguese international. Juventus have already signed Blaise Matuidi this summer and are looking to bring in another midfielder before the window closes.

Inter Milan close to landing Joao Cancelo

After Valencia's victory over Las Palmas last night, their manager Marcelino Toral confirmed in his post-match press conference that Joao Cancelo is on his way to Inter Milan. The right-back has been a long-term target for the Italian giants and is expected to have his medical tomorrow. Cancelo bid adieu to the Mestalla faithful last night after the final whistle.

Bundesliga

Schalke 04 have been busy this summer

Eintracht Frankfurt sign Simon Falette

Frankfurt have bolstered their defence by bringing in FC Metz defender, Simon Falette. The 25-year old has joined Eintracht Frankfurt on a four-year deal and is expected to be a first-team starter for the Bundesliga side. After signing for his new club, Falette said, "I didn't need long to make my mind up when I heard Frankfurt wanted to sign me. It's a massive chance for me to play in the Bundesliga. Frankfurt are on an exciting path and I'd like to go with them on it, and will do my best to help them."

Schalke 04 extend Bernard Tekpetey's contract

With just under 12 months remaining on the highly-rated forward's deal, Schalke have made Tekpetey sign a new two-year extension which will see his contract run down to 2020. The 19-year old is seen as a bright prospect and for his development, the club have sent Tekpetey to Austrian Bundesliga side, Altach on a season-long loan.

La Liga

Liverpool 1-0 FC Barcelona

FC Barcelona end Philippe Coutinho chase

According to Guillem Balague, the Catalans have accepted defeat in their pursuit of Philippe Coutinho. Barcelona made three bids for the Brazilian but Liverpool's resilience on keeping their star man has made the Spanish giants to look for other options. Barcelona's highest offer for Coutinho was at €118 million but the Reds had made it clear that their prised possession is not for sale at any price.

Atletico Madrid set to match Chelsea's valuation of Diego Costa

The Daily Mail understands that Atletico Madrid are close to ending Diego Costa's nightmarish summer by making a £50 million offer for the striker. Chelsea had quoted the same amount to the Colchoneros with Diego Simeone finally agreeing to spend the needful for the disgruntled striker. The Blues have already fined Costa over £300,000 for not turning up in London since the past two weeks.

Rest of the world

Premier League calling for the German?

Three Premier League clubs battling it out for Julian Draxler

Arsenal, Liverpool and Manchester United are all set for a three-way battle for Paris Saint Germain's Julian Draxler. PSG are currently working on cutting down wages from their books to make way for the club to sign Kylian Mbappe. Surprisingly, PSG are ready to offload the 23-year old for just £32 million after signing him last January for £40 million.

Samir Nasri on his way to Turkey

Manchester City outcast, Samir Nasri is close to sealing a move to the Turkish Super League. BBC reports that Nasri has agreed to personal terms with Antalyaspor and will fly out to Turkey soon. He is expected to become the club's highest earner and will join former Premier League players like Sandro, Samuel Eto'o and Johan Djourou at Antalyaspor.