Paper Round: PSG make £88m Cristiano Ronaldo bid

PSG favourites to sign Ronaldo: Paris Saint-Germain have overtaken Manchester United in the transfer race for Real Madrid forward Cristiano Ronaldo, 30, by launching an £88m bid, report Spanish paper Marca. While Ronaldo is happy at Madrid, he wants assurances about their future direction before he makes any concrete decision on his future, the report adds. Crucially, though, Marca believe that Ronaldo favours PSG over a move to United.

Paper Round's view: Ronaldo leaving Madrid in the immediate future seems unlikely. Ronaldo is in touching distance of becoming Madrid’s all-time record goalscorer. In fact, he is only 10 goals shy of Raul's record. He will, therefore, almost certainly stay next season to surpass the Madrid great. If he were to move, the likelihood would be the summer after. Then and only then would PSG have a chance of signing him. However, at that stage they would have to contend with FFP but where there is a will there is a way. Watch this space.

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James Milner will join Liverpool this summer after snubbing Arsenal: James Milner will move to Liverpool this summer as Steven Gerrard’s replacement after rejecting Arsenal - according to the Daily Star. Milner will join on a free after his contract comes to an end at City after becoming frustrated at his lack of playing time under Manuel Pellegrini. Milner is said to favour staying in the north of England.

Paper Round's view: Milner apparently turned down £165,000 to stay at City. This begs a serious question of Liverpool: will they match that? And, if they do, why did they not offer that sort of money to Raheem Sterling? If Milner is set on staying in the north then there is little that Arsenal can do about that fact but this represents a big blow to Arsenal as Milner would have been a perfect acquisition as the Gunners look to mount a title challenge next season.

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Raheem Sterling slapped with £60m price tag: Liverpool have put a £60m price on Raheem Sterling’s head after the England star insisted he wants to leave Anfield this summer, claim the Daily Mail. Liverpool have publicly stated that they expect the England man to see out the remainder of his two-year 35,000-a-week contract. However, if the club receive a bid in the region of £60m then they will reluctantly do business.

Paper Round's view: £60m is preposterous money for any player but for a player who has played well for 18 months it is beyond ridiculous. Sterling has mounds of potential but for £60m a club should be getting the finished article – a player capable of taking a season by the scruff of its neck – and Sterling is yet to be able to do that. If Liverpool get anywhere near a £60m offer then they should immediately do the deal.

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Paul Clement to take £250,000 pay cut to become Derby boss: Paul Clement will take a pay cut to become the new boss of Derby but will still be the best paid boss in the Championship, report the Daily Mirror. Clement will sign a four-year deal worth £8m when he takes over at Pride Park but that will still leave him £250,000 less off when he leaves his £1.45m-a-year post at Real Madrid.

Paper Round’s view: These are eye-watering figures for a man who, in truth, is completely untried as a manager. Time and again, excellent coaches and assistant managers have struggled to make the transition to the position of manager, and, if that proves to be the case, then the Derby owners will be left with quite the compensation bill on an £8m contract.