While the Premier League season is still far from done, clubs from the top-flight and beyond are already beginning to kickstart their summer transfer business on the right note amid fears they could be left behind. The market is now more important than ever and a strong window could ultimately hold the key to a successful season, meaning work between agents and club representatives has already begun on both incomings and outgoings.
Although Los Blancos still need to negotiate a fee with Borussia Dortmund, it appears Bellingham is on the verge of finding an agreement over personal terms with the reigning European champions.
Crucially, it also appears Manchester City and Liverpool are now out of the running meaning a total agreement between Real Madrid and Dortmund is seemingly only a matter of time away.
This is a major story because it will also shape transfer plans elsewhere - not least Liverpool where Bellingham has been courted for over two years.
Now the Reds will have to move onto other targets and the name at the top of their shortlist is Brighton's Alexis Mac Allister.
It's understood progressive talks have already been held with the Argentine's camp ahead of a summer transfer and the deal is moving in the right direction even if a fee still must be negotiated with Brighton - not the easiest of tasks.
Manchester City will also be looking to reshape their midfield this summer and with Bellingham off the table, the Premier League champions must configure their next move with captain Ilkay Gundogan also of huge interest to Barcelona.
Express Sport has you covered and will be keeping you up to date with all the latest from the transfer market on Thursday, May 4.
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