Agree with de niro, nobody really knows outside of a very select echelon within the club. The only way we would hear is at the other end so to speak, when the actions of that echelon are seen elsewhere, such as when we make an enquiry. Even then, who us to say what our real intension is? Could well be a decoy or throwing the media a bone.
Case in point, I used to work with a guy whose son i know for a fact still holds a position at city where he could potentially hear snippets, not specifically about transfers but in general. The only time I ever passed on something he said was to a few mods on here, I guess I got a little caught up in being 'itk' for once, regarding some players leaving a few years back, and that they would not go on tour to the USA with us. Turns out every single one did go on the tour, but they also all left the club that season. So, in summary, not worth passing on info in the main part as it can always change you have little control over it, and it can end up making you look like a wum. But I know this guy was legit and truly believed what he said, but even then it is not nailed on, ever.