Milan official Adriano Galliani confirmed Massimiliano Allegri had requested a new centre-forward, and qualification for the Champions League group phase has opened up fresh funds for transfers.
So far Matri had been the favourite, though he would cost €12m to prise away from Juventus. It would be a return for Matri, who grew up in the Milan youth academy before continuing his career elsewhere.
However, according to the Corriere dello Sport, Hernandez has emerged as a new candidate for the role. He has different characteristics to Matri, as the Uruguay international is a speed-merchant as opposed to a link-up forward. He is eager to leave Palermo following their relegation to Serie B.
Genoa have also confirmed their interest in Hernandez, although they expressed concern at the price.
Arsenal could make an offer to Juventus for Fabio Quagliarella, claims the Evening Standard.
The Old Lady are looking to reduce their striking options this summer after the arrivals of Carlos Tevez and Fernando Llorente.
With Alessandro Matri on the verge of a €12m move to Milan, Juve are now also entertaining interest from the London club for the 30-year-old.
The forward, who has turned down approaches from Norwich and Southampton recently, has also been linked with West Ham and Sunderland.
The former Sampdoria and Udinese man joined the Old Lady in 2010 from Napoli. He has scored 26 goals in 79 games for the Bianconeri.
Arsenal are looking for new attacking options after Lukas Podolski was sidelined for the next two months because of a hamstring problem.
Lazio will sign Galatasaray striker Burak Yilmaz after a 12 million euro £10.3m) transfer fee was agreed in principal, claims Gazzetta dello Sport.
Galatasaray sporting director Bulent Tulun has been in talks with Biancocelesti officials since landing in Rome yesterday.
After initially asking for €18m for the centre-forward, the Gazzetta website claims the Italian outfit have managed to get that reduced to €12m. That figure includes bonuses.
The two clubs are now ironing out the details. Lazio want to pay the fee in four instalments, but the Turkish outfit are pushing for just two payments.
Lazio first wanted the player last summer, but he instead joined Galatasaray from Trabzonspor for just €5m.
Yilmaz, 28, is a Turkey international who scored 34 goals last season in all competitions for club and country.
The representative of Napoli stopper Paolo Cannavaro isn’t taking transfer links with Milan too seriously.
The defender isn’t assured of first team football under new boss Rafa Benitez in Naples and a transfer before the window closes next week has been touted.
“I think they are just rumours right now,” Gaetano Fedele told calciomercato. “But I’m not surprised that Paolo is being paired with the big clubs. “Everyone knows his current situation and the final decision will be taken by Napoli, but he is a happy captain and he’s happy at Napoli.
“There was something with the Rossoneri a few years ago and I’m not aware of any re-ignited interest. In my opinion Paolo will probably stay.”
Milan are set to reinforce after qualifying for the Champions League group stages, but Juventus striker Alessandro Matri is their prime target.
Roma sporting director Walter Sabatini has flown to France in an effort to sign Mamadou Sakho from Paris Saint-Germain.
According to Voce Giallorossa, the transfer official is in talks with PSG as he attempts to net a new centre-back for boss Rudi Garcia.
Sakho, 23, is looking for a new club and the fact that his contract is set to expire next summer has made him an attractive target.
Liverpool and Milan have been linked with the stopper, but it appears that the Stadio Olimpico outfit are also very keen despite the words of PSG chief Nasser Al-Khelaifi.
“Sakho is a child of the club, just like Steven Gerrard is at Liverpool,” Al-Khelaifi told L’Equipe recently.
“It is hard to imagine him wearing another team's jersey and I'm a little surprised that he wants to leave.
“I had a discussion with him. My position is very clear and he knows it – we want to keep him and we will do everything to achieve that.”
Roma, who sold Brazilian centre-back Marquinhos to PSG earlier this summer for a fee of €32m, are willing to offer around €10m for the France international.
Former Italian international Andrea Dossena will play for Torino this season after agreeing a move from Napoli.
The left-back, who can also be used in midfield, will put pen to pen on a one-year deal with the Granata, says Sky Sport Italia.
That contract will automatically be renewed for a further 12 months should he make at least 20 45-minute appearances for Toro this term.
Dossena, 31, moves to Turin after spending the last six months of the 2012-13 campaign with relegated Palermo.
The former Udinese and Liverpool man has won 10 caps for his country.
Torino made a move for Dossena after missing out on Juventus full-back Reto Ziegler who joined Sassuolo instead.