Three way fight to prise Glen Johnson away from Pompey

When the USA sneezes the rest of the world catches a cold, so when Real Madrid catch transfer fever so all of football gets symptoms too. It happened in 2003, when Real's purchase of David Beckham sparked a chain of events that saw Manchester United go for Ronaldinho, miss out and try for Damien Duff and be gazumped on that one by Chelsea. Blackburn spent some of the Duff money on Steven Reid, Millwall used some of that cash to sign Noel Whelan and . . . the sequence may have ended in some side acquiring a left-back in return for a lawnmower in the Crawley & District League.

The first repercussions of this summer's spree at the Bernabeu will again involve what United do with a windfall but the only English-based player they are likely to sign is Luis Antonio Valencia from Wigan. The biggest effect may be a series of Real Madrid cast-offs arriving in the Premier League. To help fund Real's projected €300m spending spree, the Spanish club's president, Florentino Perez, wants to sell the entire stable of Dutch players bought by the previous regime. Klaas-Jan Huntelaar may not be a galactico but having scored 76 goals in 92 league appearances for Ajax Amsterdam, and available for €15m, he could be just the goal-getter Everton or Tottenham crave. Spurs have already made an inquiry. They are also interested in another of Real's Dutchmen, Ruud van Nistelrooy. Arjen Robben is being offered by Perez as a makeweight in deals for further players he wants, including Liverpool's Xabi Alonso and Alvaro Arbeloa. Wesley Sneijder, Rafael van der Vaart and Royston Drenthe might also interest Premier League clubs, as could others Real are ready to jettison, such as Gabriel Heinze, Javier Saviola and Mahamadou Diarra.

Real are about to sign one of Chelsea's principal targets, David Villa from Valencia, leaving energies at Stamford Bridge to be diverted towards vying with Manchester United for Franck Ribery. Chelsea also want Manchester City youngster Daniel Sturridge and are set to sell Ricardo Carvalho and Deco to Inter Milan, who are closing in on City's Elano.

The merry-go-round does not stop there. Real's activity has sparked a response in Barcelona, who are pursuing Javier Mascherano despite Liverpool's stance that their Argentinian "does not have a price". Barça want to sell Samuel Eto'o before his contract expires next year and the Cameroon striker, looking for a last big career payday, wants to go. United have asked about a player who would cost under ¤30m, but, given Eto'o's wage demands, Manchester City are a likelier destination.

In January City offered nearly double for Kaka what Real paid to secure him from AC Milan and Mark Hughes, their manager, said his club could have outbid Real for Ronaldo, "but there was only ever one place he was going to leave United for and that was Madrid. We could have made a case for him but we like to chase realistic targets and that wasn't realistic for us".

The world's richest club might still try and buy a "marquee name", Hughes said, but chastened by the Kaka experience, most of City's shopping will be confined to the Premier League. "We are not where Chelsea were when Abramovich came in, competing for Champions League finals and top four in the Premier League," Hughes said. "We are starting at a lower level, so we have to make sure the players we bring in now are the right quality to make us successful. The likes of Shay Given and Gareth Barry epitomise the type we want - strong players who understand the Premier League."

Almost unnoticed, Arsenal have agreed a fee of around £10m for Thomas Vermaelen, Ajax's young Belgian centre-back. Jermaine Jenas, Tom Huddlestone, Heurelho Gomes, Adel Taarabt and Darren Bent - bound for Sunderland - are set to leave Spurs, who are chasing Ashley Young. The whole Newcastle squad are still up for sale - but to consider buying Joey Barton would really be transfer madness.

Can the big four really challenge Real's galacticos?

Florentino Perez's return as president of Real Madrid has heralded the second coming of the galacticos but as all eyes turn to Spain, spare a thought for England's own top four:

The Theatricos (Man Utd)

'Praising what is lost makes the remembrance dear,' said a certain William Shakespeare, but United fans will point to rapper Rio Ferdinand and the Brian Blessed-bearded Wayne Rooney for evidence that Old Trafford remains the world's stage. Ronaldo's compatriot Nani will be looking to enter the Theatre of Dreams stage left to convince Ferguson there is no need to splash the cash this summer

The Geriatricos (Chelsea)

With Didier Drogba (31), inset, and Michael Ballack (34), Chelsea's squad is as close to qualifying for bus passes as they were to reaching the Champions League final. Whippersnappers David Villa and Sergio Aguero have already rejected them fearing a life of chin-wiping, but one youngster who may be returning after being released two years ago is the 24-year-old England right-back Glen Johnson, although Liverpool's attentions threaten their age reduction process

The Optimisticos (Liverpool)

If you think Ronaldo-to-Real has dragged on, this will be the 19th consecutive summer of Scousers praying 'this season will be our season'. All the while, their best players are linked with moves away from Anfield while the newspapers are filled with stories about American owners George Gillett and Tom Hicks not having the price of a match programme. The continued presence of Steven Gerrard and Fernando Torres gives grounds for hope but unless they can be supplemented by more quality buys - Glen Johnson perhaps - the glass will remain merely half full

The Cutcosticos (Arsenal)

They have spent so much making their house look ostentatious that there is now nothing left in the kitty to decorate the inside and Arsene Wenger may have to resort to toothpaste in order to fill in the ever-widening cracks. The signing of the exquisitely hand-crafted Andrey Arshavin is a move in the right direction but any more build-it-yourself Ikea purchases may lead to an Emirates revolt