Arsenal sign Debuchy and eye Schneiderlin instead of Khedira

As expected Arsenal have secured the services of France international Mathieu Debuchy, who has joined the Gunners on what the club describes as a "long-term contract". Explaining that the 28-year-old right-back moved south from Newcastle for an undisclosed fee, Arsenal.com carried the comments of a delighted Arsene Wenger, clearly overjoyed at his second major signing in a fortnight following the swoop for Barcelona striker Alexis Sanchez.

"He is a quality defender who has good Premier League experience and I'm confident he will fit in very well with us," said Wenger, while Debuchy – who's expected to make his debut at the Emirates Cup in the first weekend of August – proclaimed: "I'm very proud to be joining a great club like Arsenal and... I'm looking forward to working with Arsene Wenger and to helping the team build on last season's FA Cup success."

Debuchy might have been unveiled but Arsenal's hopes of signing Real Madrid midfielder Sami Khedira appear to be over. The player, rumoured to be on his way out of the Bernabeu, has been heavily linked with a move to Arsenal, but his wage demands of £150,000 a week have put off Wenger.

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Instead, says the Daily Express, he may turn his attentions to Southampton midfield enforcer Morgan Schneiderlin, who would be a lot cheaper that the German.

And just so Arsenal fans don't get too excited about the prospect of many more new arrivals, Metro carries the news that the Gunners have pulled out of the race to sign QPR-cum-Newcastle striker Loic Remy. They and Spurs were said to be after the French international, but have baulked at his extravagant wage demands. It leaves Liverpool in pole position to land the forward, says the paper.

In other news, Goal.com reports that Napoli president Aurelio De Laurentiis has confirmed the capture on loan of Swansea and Spain striker Michu. The 28-year-old joined the Welsh outfit two years ago and dazzled in his first season at the Liberty Stadium, leading to speculation last summer that he could be on his way to Arsenal. But injury ravaged Michu's second season at Swansea and now he's decided he needs a fresh challenge in Serie A. De Laurentiis announced the news on his Twitter account and Goal.com reports that Napoli have an option to buy Michu at the end of the season.

The Daily Star carry the news that West Ham have wrapped up the signing of Ecuador World Cup star Enner Valencia. The Hammers have forked out £12m for the 25 year-old striker, who made his name by scoring all three of Ecuador's goals at the World Cup last month. Formerly with Mexican club Pachuca, Valencia joins West Ham on a five-year deal and is Sam Allardyce's fifth signing of the summer with the Star reporting that the Hammers' gaffer is also closing in on a £4m deal for Boca Juniors left-back Emmanuel Insua.

BBC Sport confirms that Rio Ferdinand has completed his move to Queens Park Rangers after passing a medical with the west London club. Released by Manchester United at the end of last season, the veteran defender's move to newly-promoted Rangers reunites him with Harry Redknapp, his boss when he started out with West Ham United more than a decade ago. "It's not about money - I had loads of more lucrative offers available to me," said the 35-year-old Ferdinand. "I still feel I've got something to offer and I'm excited about helping this club cement its place in the Premier League."

Finally, new Manchester United boss Louis van Gaal has told fans not to expect any more signings in the next month as he spends time assessing the state of affairs at Old Trafford. Van Gaal has already authorised the signings of Luke Shaw and Ander Herrera since becoming manager of United in May, but Talksport says that at his first press conference on Thursday the Dutchman poured cold water on transfer speculation.

"Shaw and Herrera were already on the list and I approved them because I liked them... [but] it will take three or four weeks to see what they can do before we buy other players."