The Transfer DealSheet: Latest on Man Utd, Arsenal, Liverpool, Real Madrid and more

Welcome to the fifth 2026 summer window edition of The Transfer DealSheet.

Our team of dedicated writers, including David Ornstein, will take you inside the market to explain the deals being worked on in what promises to be an extremely busy transfer window. This includes the players who could arrive and the ones on their way out across the Premier League and beyond in a World Cup summer.

The information found within this article has been gathered according to The Athletic’s sourcing guidelines. Unless stated, our reporters have spoken to more than one person briefed on each deal before offering the clubs involved the opportunity to comment. Those responses, when they were given, have been included in the Transfer DealSheet.

In this edition, we have David Ornstein’s One To Watch and updates on Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, Newcastle United, Tottenham Hotspur, Barcelona and Real Madrid.

We aim to bring you analysis you can trust about what is happening at Europe’s leading clubs and the latest information we’re hearing from across the market.

This article is long but detailed, so enjoy it all — or search for the team or player you want to read about.

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David Ornstein’s One To Watch

The loss of Manuel Ugarte to a knee ligament injury is hugely disappointing for the midfielder and his club, Manchester United.

It will not only consign him to an extended period on the sidelines but also ends any chance of him leaving Old Trafford, which was very possible as part of United’s summer transfer market activity.

If Ugarte had gone, it would have created space — from a squad and financial perspective — to help United do the work they planned in that area of the pitch.

But the better news for United is that the business they want to execute was never contingent on him departing and, after a period of cost-cutting, the Old Trafford side are in sufficiently robust condition to cope regardless.

A deal to sign Ederson from Atalanta is agreed, subject to completing medical tests once he returns from the World Cup with Brazil.

Efforts to further bolster Michael Carrick’s ranks continue and the immediate focus is on West Ham United’s Mateus Fernandes, who is also wanted by Tottenham Hotspur, while more candidates also remain under consideration.

There could, though, be a knock-on effect in other positions, and whether United will still recruit a left-sided attacker is unclear.

Part of the decision-making process on that involves Marcus Rashford. The England forward is on course to rejoin the first-team group in pre-season training next month and, as things stand, will be available for Carrick to utilise.

The situation is changeable, of course, because nothing has been firmly decided either way. However, there is an openness all around to potential reintegration.

United wish to avoid a third loan and Barcelona do not intend to take him permanently — while the 28-year-old is contracted until 2028, has no desire to move elsewhere in the Premier League, and is not currently targeted by suitors of a level that would entice him to exit United.

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What Else We’re Hearing

• Paris Saint-Germain do not need to sell Bradley Barcola — who is of interest to several Premier League clubs — after agreeing a huge deal for Goncalo Ramos to join Milan for what is a club-record fee for the Serie A side. Barcola appears reluctant to sign a new deal amid lower game-time than he would like and he is pushing for more starts. PSG feel the speculated market rate for Barcola, who is not for sale, is way off and he should be valued at a much higher price than the £116m Manchester City will pay for Elliot Anderson. Lee Kang-in and Randal Kolo Muani are free to leave the French champions. David Ornstein
• Brentford are in talks with Callum Wilson about potentially joining as a free agent. The striker is available after his contract with West Ham expired at the end of last season. Wilson, 34, is among a number of options Brentford are considering as they look to add to their attacking options. An arrival in that part of the pitch would allow Kaye Furo, 19, to leave on loan, which is a priority for Brentford. David Ornstein
• Toulouse goalkeeper Guillaume Restes is emerging as a serious option for Aston Villa should Emiliano Martinez leave this summer. Villa have held talks with Restes’ representatives. Toulouse are open to selling Restes, with sources close to the club suggesting a deal could be struck around £20million ($26.5m), depending on how the goalkeeping market unfolds. Parma goalkeeper Zion Suzuki has also been sounded out. Villa would want Martinez to stay and believe his performance value outweighs what they can get for him, but it depends on whether they receive a sensible offer for the World Cup winner. Jacob Tanswell and Jacob Whitehead
• Coventry City are close to agreeing a deal for Eintracht Frankfurt’s Swiss centre-back Aurele Amenda, with the expectation of a completed deal later this week for the 22-year-old. Sebastian Stafford-Bloor

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Is the June 30 PSR deadline still a big deal for clubs?

First, some debunking: there is no set ‘June 30 PSR deadline’. Domestic financial rules are tethered to clubs’ accounting periods, which, in most but not all cases, close at the end of June.

The notion of a designated PSR deadline gained credence largely because of the events of June 2024. Then, each of Aston Villa, Chelsea, Everton, Newcastle United and Nottingham Forest engaged in a flurry of player swap deals, ostensibly to massage their bottom lines and book the necessary sale profits to avoid a rules breach. Each of those clubs were working to a June 30 accounting year-end date.

Not all do. Of the 2026-27 Premier League cohort, Arsenal and Liverpool have already bid goodbye to their 2025-26 accounting year, with their figures running to May 31. Today is likewise an irrelevance at Sunderland, whose accounting period ends on July 31.

That still leaves 17 teams shutting their 2025-26 books at the close of play, including newly promoted Coventry City, who shifted their date back from May to June last month. That is not understood to have been for rules-compliance purposes and was instead a housekeeping exercise, bringing the club into line with when player contracts tend to end.

PSR will, at least domestically, disappear soon enough, replaced by a squad cost rule (SCR) from next season. The Premier League has pulled forward its final PSR assessment deadline by two months; clubs will need to provide 2025-26 accounts to the league by the end of October.

The end of June remains relevant, then, but most sides haven’t too much to worry about. Chelsea, serial rule-skirters, should book over £300million in TV money this season and are expected to be within domestic rules.

One glaring outlier, as reported by The Athletic last week, is Hull City. The Premier League’s newest addition needs to plug a shortfall of around £6million to avoid breaching the lower loss limit applied to clubs in the EFL. PSR is assessed retrospectively, so Hull’s assessment covers three seasons in the Championship. Getting sufficient business done is of paramount importance for a club which will already need as many points as it can muster this coming season. The sale of Kyle Joseph to Middlesbrough, alongside the departure of Ivor Pandur to Rangers, with Jack Butland coming the other way in a player-swap-plus-cash deal, look set to steer them clear of trouble.

Aston Villa, as usual, are in a position of uncertainty to the outside observer. Villa avoided PSR trouble a year ago by selling the club’s women’s team and a warehouse to their ownership group for, on paper, £117million, and that was in a year they had Champions League prize money to assuage losses. Improved Premier League TV money has helped fill that gap in 2025-26 but Villa’s compliance has not been assured.

That compliance relates not to Premier League rules, where those internal sales are allowed and ensure the club will be fine domestically, but to UEFA ones, where they aren’t.

Villa are in a settlement agreement following previous rules breaches and are limited to €60million (£52m) in ‘football earnings’ losses this season. In 2026-27, the limit drops to zero, only increasable by whatever headroom they have in 2025-26. If they are already compliant for 2025-26, bumping any player sales into 2026-27 would be very useful.

English clubs competing in Europe will remain subject to loss limits under that football earnings rule, and last-minute player sales undoubtedly help compliance there.

For others, SCR will reduce the allure of that get-out-of-jail card, though June 30 won’t fade into total irrelevance. Under SCR, a third of player profits are included in the annual arithmetic.

That reduces the deficit-reducing efficacy of a sale but also means a proportion of that sale remains in a club’s calculation for three seasons. The accounting date of a sale therefore retains importance; if a club is compliant in the season soon to end, it makes sense to delay a sale into the next accounting year, ensuring those profits stay in their SCR calculation for as long as possible.

Chris Weatherspoon

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Arsenal

What has happened this week?

Arsenal made a verbal offer, communicated through intermediaries, to sign Newcastle midfielder Bruno Guimaraes. The proposal was worth less than £60million and was rebuffed by the north-east club.

The onus is now on Arsenal to decide whether they make a higher offer. Personal terms are not expected to be an issue — but for now, Newcastle’s position remains that the player is not for sale. Newcastle say Arsenal have not contacted them nor submitted a bid directly.

Arsenal also confirmed that they will convert Piero Hincapie’s loan from Bayer Leverkusen to a permanent transfer on July 1.

Has there been a shift in who will make the decisions at Arsenal?

Mikel Arteta and sporting director Andrea Berta remain the key figures driving Arsenal’s transfer plans. Berta is, however, looking to expand his recruitment team. Having already appointed former Napoli head of scouting Maurizio Michele, Berta is keen to add Granada’s sporting director Javier Alonso.

Berta and Alonso previously worked together at Atletico Madrid between 2016 and 2021. Granada hope to retain Alonso but the clubs are in dialogue about the potential move.

What positions/players are they looking at?

The Guimaraes interest shows that central midfield is high on Arsenal’s agenda. They are eager to reinforce their attack, with Morgan Rogers, Bradley Barcola and Christos Tzolis among their targets.

Arsenal’s pursuit of Rogers is complicated by the fact Villa are intent on using Manchester City’s agreed price of £116m for Elliot Anderson as a precedent.

Arsenal have also studied options in the full-back areas.

Which players could be leaving?

Arsenal remain keen to engage in player trading this summer. They will be receptive to offers for the likes of Gabriel Jesus, Christian Norgaard and Fabio Vieira. Others — such as Ethan Nwaneri, Gabriel Martinelli and Leandro Trossard — could also be available for the right price.

James McNicholas

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Chelsea

What has happened this week?

Chelsea are closing in on completing a deal to sign 21-year-old defender Marco Palestra from Atalanta.

The club had an £8m bid for Granit Xhaka turned down by Sunderland, who say they do not want to sell their captain. Chelsea have not given up hope on acquiring Xhaka despite Sunderland’s stance.

Chelsea have rejected a couple of offers from Como for England international Trevoh Chalobah. They are prepared to sell the defender for a package worth £35m.

What do Chelsea need to prioritise?

Chelsea need to trim the squad so that Xabi Alonso does not have too many players. Chelsea would also benefit from having the futures of Enzo Fernandez and Malo Gusto resolved.

Fernandez is on the wishlist of Real Madrid, but nothing has materialised, while Gusto has admirers from a number of clubs, including Manchester City. Chelsea value the duo at £120m and £75m respectively.

If their futures lie elsewhere, it will be best for all concerned if things are resolved earlier in the window rather than later so the uncertainty does not prove to be a distraction during pre-season.

What positions/players are they looking at?

Chelsea are expected to make another bid for Xhaka, who is keen on the idea of a move to west London. The 33-year-old played under new manager Alonso for two years at Bayer Leverkusen.

They are determined to sign at least one centre back and Crystal Palace defender Maxence Lacroix is one of their main targets, although no bid has been made. Como’s Jacobo Ramon is also on the wishlist.

Chelsea are still keen on Aston Villa’s Morgan Rogers to fill their need for a versatile attacker. They face competition for his signature from Arsenal and Paris Saint-Germain. It will take a large sum to convince Aston Villa to sell.

The club are working on a deal for Pep Chavarria from Rayo Vallecano. Chelsea have opened talks with the La Liga club and are growing in confidence that the 28-year-old, who can play left-back and wing-back, will move to Stamford Bridge.

Chelsea have yet to confirm, but sources in France say Argentina international Valentin Barco will join from Strasbourg.

Which players could be leaving?

Chelsea are prepared to sell Fernandez, Gusto and Chalobah if a club meets their valuation.

At least one striker will be sold. Joao Pedro is not one of the candidates. A decision will be made over whether Nicolas Jackson, Liam Delap (who is wanted by Premier League clubs) and Emmanuel Emegha (joining from Strasbourg) will be part of Alonso’s squad.

Marc Guiu has interest from clubs in England and Europe for both a loan and a permanent move.

Meanwhile, Everton are progressing in talks over signing Tyrique George on a permanent basis.

Midfielder Andrey Santos is one of the players left off the ‘not for sale’ list and has admirers. Along with Chalobah, other centre-backs are expected to go. Benoit Badiashile is one of the most likely at this stage.

Goalkeeper Filip Jorgensen will have his wish to move granted. USMNT international Gaga Slonina is the subject of a loan offer from a Serie A club with an option to buy. Other clubs are also keen.

Simon Johnson

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Liverpool

What has happened this week?

Yan Diomande, a player Liverpool were keen on, has decided on PSG as his next destination if he leaves RB Leipzig.

That means Liverpool’s search for another winger, after the signing of Victor Munoz, may head in a different direction.

Cody Gakpo, the Netherlands forward, received support from Dutch team-mates after his partner, Noa, revealed they lost their child during pregnancy. Gakpo made himself available for selection just days after the heartbreaking news.

Will Isak and Gakpo’s World Cup displays be a positive going forward for Liverpool?

It’s no exaggeration to say both players will have been glad to see the back of last season.

Alexander Isak struggled with injuries and Gakpo’s form in front of goal dipped, so both players needed this tournament to build some momentum.

Whether Liverpool genuinely benefit from their performances depends on what happens next.

Both are going to be judged on their goals and assists, and Isak — Liverpool’s record signing — has just one strike. Gakpo scored two and set up another across three games in the group stage, but the knockout rounds will determine whether either player can bring some momentum into pre-season. For Isak, just playing and staying fit will be a positive.

What positions/players are they looking at?

Finding a couple of wide players was the main target for Liverpool this season and they’re halfway there with Munoz.

Last week, The Athletic reported Diomande was a player of interest, but that other options were under consideration, including Brighton & Hove Albion’s Yankuba Minteh, Said El Mala of FC Koln and Lille’s Matias Fernandez-Pardo.

Liverpool are also admirers of PSG’s Bradley Barcola and have previously looked at the situation of Crysencio Summerville.

A new right-sided defender would be useful as well as an addition to the midfield.

Which players could be leaving?

Curtis Jones and Federico Chiesa are the most likely to leave this summer, although both will still need talks with new head coach Andoni Iraola first.

Inter have submitted two bids for Jones — the last around €25million (£21.7m; $28.7m) — this summer, but both have fallen short of the number for Liverpool to consider selling.

Harvey Elliott is also in need of regular games next season and will assess his options closer to the start of the campaign.

Gregg Evans

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Manchester City

What has happened this week?

There was a major breakthrough on the Elliot Anderson deal, with an agreement being reached with Nottingham Forest for £116m. The midfielder’s medical was scheduled for after England’s game against Panama.

A lot of work also went into finalising the appointment of Enzo Maresca as manager. Director of football Hugo Viana was in London for several days getting things over the line before Maresca’s official appointment on Monday.

What comes next after Anderson?

This could turn out to be one of City’s busiest transfer windows in years. The club have rebuilt the squad over the past 18 months, but some of those players who have been brought in could leave this summer, meaning City would have to replace them. It is thought that if, for example, 10 players were to leave, City would not bring in 10; they could sign seven or eight, and use youth team players to plug the gaps.

Maresca is believed to want a slightly bigger squad than Pep Guardiola liked to work with. City had prioritised three main areas for strengthening — right-back, central midfielder, winger — but exits will push those numbers up.

In terms of new contracts, there should be official confirmation of deals for Josko Gvardiol, Jeremy Doku and Phil Foden arriving in the coming weeks.

What positions/players are they looking at?

Ayyoub Bouaddi is a player that City are looking at and admire, although they are considering how best to proceed with a move, if they do indeed make one.

Should they sign him, City have thought about loaning the 18-year-old back to Lille for a season, but have also weighed up keeping him as part of the squad and how they could give him minutes. Recognised as a very talented but also raw midfielder, with the potential to play right-back, but there are many moving parts relating to other outgoings and incomings. There are a lot of rival clubs interested, but he is an option being considered by City.

One of the reasons Bouaddi has been thought of as a potential right-back is because City’s search for a new player in that position has not been easy. They are big admirers of Chelsea’s Malo Gusto but Chelsea value him at £75million, which is considered prohibitively high. Unless there is a major change in that regard, City will have to look elsewhere, but there are not too many other options that appeal.

City also want a winger who can dribble and create chances with passes, as well as another midfielder beyond Anderson. Sandro Tonali is of interest but he has an offer from Tottenham — which is another factor influencing the interest in Bouaddi.

Which players could be leaving?

The list of potential exits is quite large. Bernardo Silva and John Stones have already left, Nathan Ake is expected to go, and Mateo Kovacic is also likely to leave. James Trafford has several admirers, Ruben Dias has had interest from Real Madrid and is a potential exit, Nico Gonzalez and Omar Marmoush, who both arrived in January 2025, could also go, while there are some doubts around Tijjani Reijnders’ future, although a change in manager could offer him some encouragement that he will get more game time next season.

Savinho is another possible exit, taking the tally to 10, while Kalvin Phillips and Jack Grealish will be moved on if the right options come along, though they would not need to be directly replaced.

Then there is Rodri, who has not yet signed a new deal and may not sign one at all. His options this summer appear fairly limited, and while City are very keen to keep him, they are aware that a departure is not entirely ruled out.

Sam Lee

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Manchester United

What has happened this week?

Manuel Ugarte is set to be sidelined for an extended period after suffering a knee ligament injury in Uruguay’s 1-0 defeat to Spain on Friday.

United have been willing to listen to offers for the 25-year-old this summer as part of their midfield rebuild, but Ugarte could now be forced to stay beyond the close of the window.

Andre Onana moved closer to securing a season-long loan to Trabzonspor after making 33 appearances for the Turkish Super Lig club this season. No option to buy will be included and Trabzonspor will cover a portion, although not all, of Onana’s wages.

The Cameroon international has two years remaining on his Old Trafford contract and was not expected to be part of Michael Carrick’s plans next season.

Cristian Orozco has travelled to Manchester to undergo a medical ahead of his move from Fortaleza CF. The 17-year-old Colombia youth international will officially become a United player following his 18th birthday next month.

How involved is Carrick in transfers?

Even while still only in charge until the end of the season, Carrick was involved in meetings regarding this summer’s recruitment. His opinion on targets holds sway and no signing at Old Trafford is made without the approval of the head coach.

The days of a manager having a powerful sway over the identification and pursuit of players is no more, however.

Jason Wilcox holds ultimate responsibility for incomings and outgoings as director of football, with the identification of targets led by director of recruitment Christopher Vivell and his scouting team.

What positions/players are they looking at?

Felix Nmecha is among the names United are considering in midfield, having made enquiries as to his availability this summer.

The Borussia Dortmund midfielder, 25, is a former Manchester City academy player, coming through the ranks during Wilcox’s time in charge of City’s youth set-up. Nmecha is believed to be keen on moving to the Premier League.

United remain in negotiations for their priority midfield target Mateus Fernandes, despite serious competition from Tottenham Hotspur. Personal terms are not expected to be an issue, but West Ham have, up until now, held firm on their £85m asking price.

One alternative to Fernandes is Alex Scott but Bournemouth insist they have no intention of selling the 22-year-old during this window and are attempting to tie Scott down to a new contract, extending his terms beyond 2028.

Other potential midfield targets include Real Madrid’s Aurelien Tchouameni as well as Brighton’s Carlos Baleba and Crystal Palace’s Adam Wharton. United have run the rule over a number of other Premier League midfielders, including Fulham’s Sander Berge.

Although midfield is the clear focus, United may seek to strengthen their left-hand side this summer, potentially at left wing. Crysenscio Summerville is one possible target.

At present, a left-wing signing is more likely than a new left-back. United are not treating their defence as a priority during this window, despite Newcastle United’s Lewis Hall having admirers at Old Trafford.

Which players could be leaving?

Whether United move for a left winger could hinge on Marcus Rashford, whose future remains up in the air following his loan spell at Barcelona.

Barcelona re-entering the market for Rashford has not been discounted, although United are unwilling to agree to another season-long loan to Camp Nou.

The 28-year-old is available for £40m, though is believed to prefer to see out the final two years of his contract rather than join another Premier League club.

Chido Obi has caught the eye of Koln, who are monitoring a potential loan deal, but United are yet to receive any direct contact from the Bundesliga club.

In the goalkeeping department, as well as Onana, Altay Bayindir and Radek Vitek could leave in search of more regular first-team opportunities.

Joshua Zirkzee could also leave this summer, which would open up the prospect of United signing a centre-forward as a back-up for Benjamin Sesko.

Mark Critchley

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Newcastle

What has happened this week?

Sandro Tonali‘s Tyneside exit is edging closer, but more damaging has been the speculation surrounding Bruno Guimaraes‘ future.

The Brazilian is a club legend, having led Newcastle to their first domestic trophy in 70 years in March 2025, and is their talismanic skipper. But Arsenal are among the clubs who have an interest and the prospect of losing Anthony Gordon, Tonali and Guimaraes all within the same summer is one that Newcastle fans dare not consider.

Newcastle have pushed back strongly on Guimaraes. They insist he is not for sale and have dismissed the idea that Arsenal have contacted them directly or made a bid for the 28-year-old, who is impressing for Brazil at the World Cup, with three assists so far.

Contrary to claims in Brazil that Guimaraes has a release clause of around £60million ($79.3m), Newcastle deny that any exit trigger exists in his contract.

His contract has two years left to run and Newcastle would be willing to discuss a new deal, though talks over an extension are not active.

How many key players will Newcastle countenance losing?

Heading into the summer, once Newcastle failed to qualify for Europe, the expectation internally had been that two of their stars may leave. Gordon was forecast to depart, Tonali was deemed likely to move on, too, while the club was also sober to the prospect of Tino Livramento being sold.

Livramento’s injuries have made an exit unlikely, but Gordon has been sold to Barcelona for €80m (£69m, $91.2m) and Newcastle have already rejected an offer from Tottenham Hotspur for Tonali. Manchester City are also interested in the Italian, who Newcastle value at around £100m, but discussions with Spurs have continued and the club have spent months identifying potential replacements.

Guimaraes departing has not been part of their blueprint, which required a key player to be sold early (Gordon) to compensate for the loss of Champions League revenue heading into next season, and then envisaged another leaving (Tonali) to help Newcastle reinvest and refresh Eddie Howe’s squad this summer.

The message from inside Newcastle is that they expect Guimaraes to stay and they would not welcome any formalised interest in their captain. Lyon would be owed 20 per cent of any profit made on Guimaraes, so the attractiveness of selling a player whose importance to Newcastle far outweighs any fee he could realistically command only reduces further.

Newcastle sources point to the lack of transfers involving a fee in the Premier League this summer, which is in the single figures, as to why they believe panic should not be setting in. They did miss out on Victor Munoz, the winger, to Liverpool in a damaging fashion, but they are adamant they will reinvigorate their squad with exciting youngsters during this window.

For now, the optics of multiple key players being linked away is not great, however, and Newcastle need to make some first-XI signings of their own to change that narrative.

What positions/players are they looking at?

Newcastle’s search for a midfielder has intensified in anticipation of Tonali departing, and Freiburg’s Johan Manzambi has been tracked long-term.

The 20-year-old has impressed at the World Cup with Switzerland, scoring three goals and providing an assist, and Howe is a big admirer. Manzambi was named Europa League Young Player of the Season for 2025-26, with the energetic, box-to-box midfielder playing a key role in helping Freiburg to the final.

Competition is expected for the midfielder, especially given how he has caught the attention in North America, but Manzambi is the profile of a young, exciting prospect Newcastle hope to sign to replace Tonali.

Monaco’s Lamine Camara is also admired, while Auxerre’s Kevin Danois is among others who have been watched.

Goalkeeper-wise, Manchester City’s James Trafford, who Newcastle have twice tried to sign, remains the primary target. Trafford wants to hold off deciding his future until returning from the World Cup.

At least one full-back is wanted, with Club Brugge’s Joaquin Seys and Toulouse’s Dayann Methalie discussed in January.

A replacement for Gordon is also a priority. Newcastle missed out on Munoz to Liverpool, though Hoffenheim’s 20-year-old Bazoumana Toure, and Said El Mala, 19, of Koln, have been tracked. Lille’s Matias Fernandez-Pardo is greatly admired.

Which players could be leaving?

Newcastle are looking for a midfield replacement for Joe Willock, meaning the 26-year-old is available. The former Arsenal midfielder is entering the final 12 months of his contract and Newcastle would have listened to sizeable offers for him over the past year.

If a new No 1 goalkeeper, be that Trafford or someone else, arrives, then Nick Pope will likely leave. He is unlikely to accept being third-choice keeper, or at best competing for the back-up spot alongside new arrival Ewen Jaouen, and so Newcastle will not stand in his way if he decides to move on, with Premier League interest anticipated.

Odysseas Vlachodimos, the 32-year-old goalkeeper who was part of the desperate transfer which saw Elliot Anderson move to Nottingham Forest in 2024 and spent last season on loan at Sevilla, is available, either for a permanent deal or another loan.

Chris Waugh

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Tottenham

What has happened this week?

Tottenham reached a total agreement on a new contract for Antonin Kinsky, tying him down in north London for the next five years, with an option to extend for a further 12 months.

Kinsky was a revelation while Guglielmo Vicario was absent after undergoing hernia surgery in March, playing the final seven league matches and making several crucial saves as Spurs stayed up on the last day of the season.

Having also confirmed the free agent signing of Martin Dubravka, this move appears to signal that Roberto De Zerbi has placed faith in Kinsky as his No 1.

How far will Spurs push for Tonali and Fernandes?

De Zerbi is keen to add starting-level talent to improve his midfield options this summer, and Tonali and Fernandes remain among his and the club’s top targets.

Tottenham face serious competition from Manchester City for Tonali. The 26-year-old midfielder is from the Italian town of Lodi, around 70 kilometres away from Brescia, De Zerbi’s hometown, and came through the Brescia academy.

It is understood that a personal connection between the head coach and the player has been integral in strengthening Tottenham’s attempts to lure him away from Newcastle, though the promise of challenging for titles and playing in the Champions League at City is a significant pull. Newcastle may also be more reluctant to sell to a club that they finished five places above last season.

(Alex Livesey/Getty Images)

London rivals West Ham United and Tottenham rarely do business, with Mohammed Kudus becoming the first player to swap east London for N17 since Scott Parker in 2011 last summer, but Matheus Fernandes is available to Tottenham for £85million. In this case, however, Spurs face competition from Manchester United, who ended the season strongly under Michael Carrick and can offer the talented 21-year-old central midfielder Champions League football next term.

But Tottenham are pushing to close both deals, with the possibility for development on both fronts — made more straightforward as neither player is at the World Cup — this week.

What positions/players are they looking at?

Tottenham have done the majority of their business in strengthening their back line, and deals to improve their midfield and attack are expected to come next. From their ambitious pursuits of Tonali and Fernandes, it’s apparent that improving the heart of their midfield is a priority, while strengthening across the forward line — in wide and central areas — is also a focus for De Zerbi.

Which players could be leaving?

Kinsky’s promotion to Tottenham’s starting goalkeeper, along with the signing of Dubravka, suggests Vicario will have to look elsewhere for consistent minutes next season. He has been linked to various Italian clubs in 2026, and while nothing has yet materialised, his departure appears likely at this stage.

Cristian Romero was substituted in the second half of Argentina’s 2-0 win over Austria with a knock, but looks likely to be fit to play a role in the knockout rounds, where he can put himself in the shop window. Tottenham’s club captain is a top-level player when fit and in form, but the £52m ($68.6m) signing of Van Hecke indicates De Zerbi is planning for a life without the centre-back.

Richarlison and Radu Dragusin are also candidates to depart north London this summer.

Elias Burke

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Barcelona

What has happened this week?

Barcelona sold reserve goalkeeper Inaki Pena to Greek club Panathinaikos for €3million. The 27-year-old academy graduate spent last season on loan at Elche.

Interest in Racing Santander defender Jorge Salinas, 19, has cooled. Barca believed a deal could be done for €8million, but sources close to Racing say that his release clause has risen to €16m following promotion to La Liga.

Barca are expected to announce Andreas Christensen’s contract extension very soon. The 30-year-old Denmark international will sign a two-year deal, although both player and club will have the chance to revisit their deal by the end of next season and decide whether they want to continue for another year.

The Alvarez saga has stepped up — does a deal feel doable?

Barcelona got what they wanted when Julian Alvarez spoke publicly about his desire to leave Atletico and “fulfil his dream”.

Barca’s next step will most likely come after the World Cup. All signs point to a new proposal being made to Atletico.

Club sources suggest their proposal could reach a figure of around €130million — and insist they can afford it. They acknowledge that the situation with Atletico has been tense over the past few weeks, but hope they will entertain talks in the near future.

What positions/players are they looking at?

A new striker is still the priority.

As part of their search to strengthen in attack, Barca got in touch with Harry Kane’s camp recently. Multiple sources described it as an informal approach. Barca were told that the England captain is not interested in a move from Bayern Munich. The expectation is for him to sign a new contract with the Bundesliga club.

The Athletic first reported Barca’s interest in Kane back in March. As was the case back then, Alvarez remains their top priority. However, club sources admit they will have to explore alternatives if no deal with Atletico is reached, adding that there were “not many other options”.

Barca would also like to strengthen in defence, but any moves in this department would require sales. This is why they did not go for Marc Cucurella. They liked the option, but would have had to offload Alejandro Balde before considering any deal.

Which players could be leaving?

Ansu Fati should be departing. There is still an expectation that the 23-year-old will join Monaco, but the €11million buy option in last season’s loan deal with the Ligue 1 club expires on June 30. Barcelona sources say the deal is in its closing stages. Fati’s sale would also bring a significant reduction from the wage bill.

Then there is Marc Casado. Barca are open to a sale and his agent, Jorge Mendes, is working on it. Casado had a limited role last season and has accepted that moving away from his boyhood club is the best solution for all sides.

Sources close to the player say one of the options he has is from Saudi Arabia. Barca are looking for a fee of around €25million for the 22-year-old midfielder.

Another name to mention is Marc-Andre ter Stegen. Once again, Barca are keen on offloading the 34-year-old, who has fallen down Flick’s pecking order and is not expected to compete with Joan Garcia for the starting goalkeeper spot next season.

Ter Stegen joined Girona on loan in January, with Barca still paying the vast majority of his wages, which are among the highest in the whole squad. Ter Stegen’s contract includes salary deferrals that he and the club agreed in his most recent contract extension in 2023.

Ajax are interested in him. The Dutch club has appointed Michel, formerly at Girona, as their new manager and he has made the German a priority for his project. The most likely outcome is Barca repeating the formula of loaning Ter Stegen out again while paying part of his salary.

Pol Ballus

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Real Madrid

What has happened this week?

Dani Ceballos’ contract was terminated by mutual agreement and his departure was announced on Friday. He is waiving what he stood to earn had he stayed.

The 29-year-old midfielder had a year to run on his deal at the club but had asked to leave in the previous two summers. Back then, no suitor was willing to pay what Madrid were asking for and take on his salary of around €4.5million.

Ceballos’ preferred destination is Real Betis. They had previously not been willing to agree to a deal involving a transfer fee, but this new development has changed the situation.

Meanwhile, Madrid also reached a slightly unusual deal with Como for Nico Paz.

How much is Mourinho influencing Madrid’s plans?

A lot, especially compared to the limited say that Xabi Alonso and Carlo Ancelotti had.

Mourinho agreed with Real Madrid in early May on the need to sign a second-choice right-back, at least one leading centre-back, a left-back and a creative midfielder, and all these signings have already been completed.

The €20million release clause for Denzel Dumfries will be paid to Inter, Ibrahima Konate is arriving from Liverpool as a free agent, Marc Cucurella has been signed from Chelsea for a fee of up to €60m and Bernardo Silva’s signature has also been secured.

What positions/players are they looking at?

Mourinho still wants another centre-back and another midfielder. Madrid are open to this but insist players must leave first.

According to sources at Madrid, Borussia Dortmund’s Nico Schlotterbeck is out of the running and City do not want to sell Ruben Dias. Inter’s Alessandro Bastoni is a player they like.

As for midfield, there is no standout name. Enzo Fernandez is Mourinho’s favourite, but club sources have played down the likelihood of his signing. Chelsea are asking for around £120million for him.

There have been internal reports about Morocco international Ayyoub Bouaddi since before his breakthrough at the 2026 World Cup, but the 18-year-old is not a priority. Lille are counting on him for their new Champions League campaign and are reluctant to sell, meaning a transfer would cost in excess of €80million. The Athletic’s Sam Lee has reported that Manchester City are looking at the player.

Mourinho is also keen on the idea of signing a No 9 in the mould of Joselu, but it is not a priority and for that to happen someone would have to leave the attack, which does not seem likely to happen.

Which players could be leaving?

Madrid want Raul Asencio, who extended his contract last summer until 2031, to leave. Those closest to the 23-year-old centre-back say he wants to win Mourinho over.

Madrid would also like to sell a left-back. Alvaro Carreras is not untouchable for Mourinho, but the 23-year-old wants to stay and is convinced he can prove his worth after a difficult first season following his €50million move from Benfica.

For a third year in a row, Madrid would be keen for Ferland Mendy to go, but the latest muscle injury he has suffered makes any move highly unlikely.

Fran Garcia is the most realistic option for a departure. He already wanted to leave in January, when the club blocked his loan move to Bournemouth. His contract runs out in 2027 and Betis have shown interest.

Another priority is to offload a midfielder. The preference is for Eduardo Camavinga to leave, but those close to him insist it is “impossible” and are confident he will turn things around after a season of less prominence and heavy criticism. The 23-year-old has a contract until 2029.

Given this situation, Madrid would be open to offers for 26-year-old France international Aurelien Tchouameni, whose deal runs until 2028. The Athletic has previously reported that he is a player Manchester United like.

Mario Cortegana