BBC Radio 5 live reporter John Southall:, external Harry Redknapp just told me Sandro is having a medical at QPR.

As an aside, Manchester United sources have told us that the reported figure of £346,000 a week for Radamel Falcao is 'way off.'

But as Wayne Rooney is on £300k a week you can bet Angel Di Maria and Falcao won't be on much less...

Mark Pougatch
BBC Radio 5 live

"I genuinely thought this morning Arsenal had more chance of signing Mark Falco than Falcao. And on £346,000 a week, I can see I was right."

Rushin in London: Latest transfer news! Rumours are coming in that David Moyes has been left in charge while Arsene Wenger refs a charity match in Rome.

Colin B: If Arsenal are desperate for a striker then avoid Welbeck and get Defoe. Who cares that he had a career with Spurs? He is a poacher of a striker which is EXACTLY what Arsenal need.

Hull City

Hull sign midfielder Mohamed Diame from West Ham for an undisclosed fee.

Image source, Ima

Bong! Into the last four hours. Time to drive to a ground and force through a move. Time to get onto your agent like Rod Tidwell in Jerry Maguire.

"Show me the money!!"

Here are the day's headlines:

• Manchester United agree a loan deal for Radamel Falcao

• Javier Hernandez joins Real Madrid on loan

• Crystal Palace line up £7m James McArthur

• Holtby leaves Spurs for Hamburg on loan

• Micah Richards is close to a move to Fiorentina

• Burnley sign Chalobah

Ian Dennis
BBC Radio 5 live senior football reporter

"Matt Smith from Leeds to Fulham is 'a possibility'."

Image source, Getty Images

Simon Tilbury:, external Does anyone buy anyone anymore? Looking at the list it's LOAN, LOAN, LOAN, LOAN - boring!

Michael James Willis:, external Can QPR just sign someone because I'm getting anxious!

Dan Smith:, external Arsenal fans moaning about Welbeck saying if we can get him, why not Falcao? £350k a week wages has something to do with it.

You may be off out to walk the dog, wash the car or have a swift half or two. Don't worry though.

Don't want to miss any key developments? Desperate to know if your club are going to land that key player that could make all the difference?

Don't panic. You can find out exactly what we're offering and when by reading our guide to following transfer deadline day.

There will be coverage all day across television, radio and online, as well as on the red button and social media.

You can read the latest news, listen to 5 live and watch the TV coverage via the BBC Sport app on your smartphone or tablet.

It is available from Google Play for Android devices, the App Store for apple devices, and the UK Amazon Kindle Fire Appstore.

Italian Serie A

BBC World Service's Steve Crossman: "AC Milan may well have done the unthinkable, posted a social media shot of a new signing before the deal is done!

"Jonathan Biabiany's move from Parma is reported to have collapsed because Cristian Zaccardo who was due to go in the opposite direction, has failed to agree personal terms.

"Unfortunately both official website and twitter accounts had already begun to celebrate landing the former Inter winger."

A schoolboy error...

M W Eastwood:, external Other clubs strengthen, Blackpool get nothing. Not a whisper. Clueless.

Old Man With Beard:, external Been at work all day and just scrolled through all the day's transfer talk. Does Newcastle have a separate page?

PeterPRandRadio:, external Not fussed who signs Jermain Defoe, just so long as he comes back to Britain. Wasted in the American league.

What Jason is saying is we are approaching the last dance at the disco. Your first-choice targets are long gone but there's still business to be done.

More worrying for Arsenal's striker prospects is the fact that Arsene Wenger is in Italy at a charity match...

Former Blackburn striker Jason Roberts
BBC Sport

"Danny Welbeck is the type of player who could add something different to Arsenal. He is adaptable and can play in different positions. Maybe he was not Arsenal's first choice and maybe Arsenal weren't his number one choice. This is what transfer deadline day is like."

Simon in Belfast: Is Wenger trying to sign Welbeck to fill the Giroud role of missing all the easy chances? Why didn't he go for Hernandez, who knows how to score? I'd rather have Podolski up front than Welbeck.

James in London: Welbeck would be a great signing for Arsenal! Good pace, and a solid run in the first team would be good for England as well!

Paddy T in Dollis Hill: First day back at school, unsure what is more depressing; that United have signed Falcao ON LOAN or that we are left with Giroud and Sanogo until my next summer holiday.

Busy times at the Stadium of Light as Sunderland defender Valentin Roberge joins French Ligue 1 side Reims on a season-long loan.

The 27-year-old, who arrived at Sunderland last summer from Portuguese club Maritimo, has made 13 appearances for the Black Cats.

For a full list of confirmed transfers throughout the day, visit our dedicated page on the BBC Sport website.

Former Manchester United defender Phil Neville
BBC Sport

"Radamel Falcao is a massive coup for every Manchester United fan. Di Maria was world class and Falcao is certainly world class. The biggest problem now is how they are going to fit all these galacticos into the team."

Tune in to the BBC News channel now - or watch on this page - for a Transfer Deadline Day special.

Guy, Arsenal fan, London: It doesn't make sense. If Arsene reckons we don't need a striker then don't sign Welbeck. If we do, then why wait till now and why not go for Falcao?

Kevin in Hornchurch: Last-minute madness will make no difference whatsoever. Man City and Chelsea will battle it out for title. Liverpool Arsenal and Utd battle for Champions league places. Spurs & Everton for 6th and 7th. So predictable. Sad but true. Arsenal be worst of the Best. Spurs be Best of the Worst.

Bob in Bradford: Welbeck is not good enough to sign for Arsenal. I know we desperately require a world-class striker but this is scraping the bottom of the barrel. Wenger, spend some money on a world-class players or it will be another fruitless campaign.

If so, what is the question?

Danny Welbeck is well liked by Roy Hodgson - among others - but has only scored 26 Premier League goals in his career.

Twenty-six more than Yaya Sanogo though...

Charlie Smith:, external Arsenal are aiming for players that Man Utd don't deem good enough to get them back in the Champions League - aim higher.

Thomas Bullivant:, external Signing Welbeck is like having an other Sanogo - he is not a good enough addition to the Arsenal squad.

Conor Harrison:, external If we get Huntelaar, Welbeck and a CDM/CB I would be more than happy.

Tottenham

Image source, Spurs

Footballers often come out with some ridiculous comments when they sign for a club, but Spurs' new midfielder Ben Stambouli may have trumped the lot.

Not only is he dressed like an extra from a 1980s Patrick Swayze film, he has come up with a classic line:

"I'm very happy to be here. I'm discovering the Training Centre, it's amazing!"

Calm down Ben. London city centre will finish you off...