Real Madrid have already completed the signing of Aurelien Tchouameni from Monaco, but the La Liga and European champions are expected to bring more players to the club before the end of the transfer window.
There could also be some high-profile exits in the coming weeks, with Marco Asensio and Ferland Mendy among those currently being linked with moves away from Bernabeu.
Here, Sports Mole provides a transfer roundup of the biggest stories involving Real Madrid, who enjoyed a brilliant 2021-22 campaign.
REAL MADRID BEHIND MAN UNITED IN RACE FOR VITINHA?
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Real Madrid are reportedly behind Manchester United in the race to sign Porto midfielder Vitinha during this summer's transfer window.
The 22-year-old was a vital player for his Portuguese club last term, making 47 appearances in all competitions, contributing four goals and five assists in the process.
There is believed to be a €40m (£34.8m) release clause in his contract, and Real Madrid are said to be interested in signing the Portugal international this summer.
However, according to Record, Man United are currently at the head of the queue for the player that spent the 2020-21 campaign on loan at Wolverhampton Wanderers.
Vitinha only has little over two years left to run on his contract at Porto and is believed to be almost certain to leave the Portuguese club during this summer's transfer window.
REAL MADRID-LINKED OSIMHEN CONFIRMS TRANSFER INTEREST
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Napoli attacker Victor Osimhen has claimed that there are clubs in both Spain and England that are interested in signing him during this summer's transfer window.
The 23-year-old enjoyed an impressive 2021-22 campaign for his Italian side, scoring 18 goals and contributing six assists in 32 appearances in all competitions.
Real Madrid, Man United and Arsenal are among the teams to be linked with a move for the Nigeria international, and he has now opened up on the reported interest.
Osimhen was quoted by Calciomercato as saying: "I know there are many people that would like me in Spain or England, but I don't think it's the right time to talk about it now that I'm with the national team. I always go out on the pitch to do my best both with the national team and with my club.
"I don't know my future, I know anything can happen, but now I just want to go on holiday with my family, clear my head and recharge my batteries. Then we'll take care of everything else."
VINICIUS JUNIOR ON VERGE OF PENNING NEW REAL MADRID CONTRACT?
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Real Madrid are reportedly 'very close' to reaching an agreement with Vinicius Junior over a new contract.
The 21-year-old's existing deal at Bernabeu is due to run until June 2024, but he is believed to be one of the lowest earners at the club despite his importance to the side.
The Brazil international scored 22 goals and registered 20 assists in 52 appearances in all competitions for Los Blancos last term, playing a key role in their La Liga and Champions League double.
According to Goal, Real Madrid are now nearing an agreement with the attacker over a new long-term deal, which could potentially see him triple his wages.
The report claims that the deal is 95% completed, with only minor details needing to be discussed and finalised before Carlo Ancelotti's side can make an official announcement.
