The 24-year-old Quaresma passed a medical on Monday before putting pen to paper on a five-year contract with the Italian champions in a deal which sees Pele head in the opposite direction.

Quaresma, who will wear the number 77 shirt for the Nerazzurri, will be officially unveiled at a press conference at 1230 local time on Tuesday.

Meanwhile, Manchester City's prospective new owner has revealed the club have lodged bids for Valencia striker David Villa and Stuttgart forward Mario Gomez as well as Tottenham striker Dimitar Berbatov ahead of the transfer deadline.

Dr Sulaiman Al-Fahim, who is heading the Abu Dhabi United Group's takeover of the Premier League club, told PA Sport that he is "hopeful" a deal for long-time Manchester United target Berbatov can be agreed before midnight after a fee of more than £30million was agreed.

However, Villa and Gomez are also on the radar.

United are already a striker down after selling Frenchman Louis Saha to Premier League rivals Everton for an undisclosed fee.

Another man who could be on the move is Deportivo La Coruna striker Xisco, who is in talks with Newcastle over a switch to Tyneside.

Spain Under-21 striker Xisco would join former Depor team-mate Fabricio Coloccini at St James' Park should he complete his move, following the defender's transfer earlier this summer.

Valencia confirmed the signing of Ignacio "Nacho" Gonzalez from Danubio, but the Uruguay midfielder has been immediately loaned out to Newcastle.

Borussia Monchengladbach have completed the signing of USA midfielder Michael Bradley after he passed a medical on Monday.

The 21-year-old has signed a four-year deal with the Bundesliga new boys after joining from Eredivisie outfit Heerenveen.

Monchengladbach coach Jos Luhukay had been keen to strengthen his squad to avoid an immediate return to the second division.

He told the club's official website, www.borussia.de: "He is strong in combination play and makes important runs off the ball. Michael is also a goal threat from midfield."

Tyrone Mears has joined Marseille on loan from Derby County just days after he flew out to France for a trial against the wishes of the English Championship club.

Marseille confirmed on their website that Mears had moved to the Stade Velodrome on a season-long loan deal with the option to buy the player outright next summer.

One man who it appears will not be moving before the midnight deadline, however, is Ajax striker Klaas Jan Huntelaar.

The Holland international has been linked with Real Madrid, Arsenal and Tottenham this summer but the Eredivisie giants are adamant he will not leave at this stage as they will have no time to find a value-for-money replacement.

"Selling such an important player on the last day of the transfer window is impossible," said Ajax technical manager Danny Blind in De Telegraaf.

"For every other player we would like to sign in return, we would then have to pay the highest price.

Last season's Eredivisie runners-up have agreed to sell one striker on Monday, though, with Spanish frontman Albert Luque heading to Malaga for an undisclosed fee.

There seems little likelihood of Robinho getting his dream move to Chelsea with just hours left before the deadline.

The Brazil playmaker spoke on Sunday of his desire to move to Stamford Bridge but Real Madrid president Ramon Calderon is adamant the 24-year-old will remain at the Bernabeu.

"There will be no player coming in and no player leaving," Calderon told Marca prior to Madrid's 2-1 defeat at Depor.

Tottenham led the way in England, snapping up Vedran Corluka and Roman Pavlyuchenko early on.

Corluka joins Croatia team-mate Luka Modric at White Hart Lane, and leaves Manchester City after making 41 appearances since arriving in August 2007.

The 22-year-old defender, who has signed a six-year deal with the transfer valued at £8.5million, admitted the presence of Modric helped persuade him to move to Spurs.

He told www.tottenhamhotspur.com: "I am delighted to be here because I am coming to a big club with great players, great ambition and also my best friend [Luka Modric] is here so it is a very happy day for me."

Spurs also confirmed Pavlyuchenko has completed the final details of his £14million move from Spartak Moscow and has signed a five-year deal.

Liverpool have also been busy, signing Spain winger Albert Riera from La Liga side Espanyol for an undisclosed fee with full-back Steve Finnan moving in the opposite direction on a two-year contract in a separate deal.

The 26-year-old Riera has signed a four-year contract at Anfield after choosing Rafael Benitez's side over a host of other clubs including neighbours Everton.

Riera, who has been given the number 11 shirt at Anfield, has previously played in the Premier League in the 2005-06 season when he was on loan at Manchester City.

Finnan, the 32-year-old Republic of Ireland international who has spent the last five seasons at Liverpool, will help provide defensive cover at Espanyol following the recent departure of right-back Pablo Zabaleta to Manchester City.

Liverpool have also agreed to send striker Andriy Voronin to German side Hertha Berlin on a season-long loan.

AZ Alkmaar have agreed to loan Ryan Donk to West Brom for the rest of the season.

Alkmaar reported on their website that the 22-year-old centre-back will swap the Eredivisie for the Premier League, just as Gianni Zuiverloon and Jonas Olsson have already done in signing for the Baggies this summer.