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

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

Our team of dedicated writers 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 in this article has been gathered in line with 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 this edition, we have Jacob Tanswell’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 on 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.

---

One To Watch

Morgan Rogers’ impending move from Aston Villa to Chelsea could have significant ripple effects on the wider market.

Aston Villa will receive a windfall from Rogers’ record-breaking £117million move. They are looking to address the wide areas, which have been a priority position throughout the summer.

Club record signing Johan Manzambi is regarded as a direct replacement for Rogers, so recruiting a wide player is essential. The Athletic revealed in June that manager Unai Emery wanted a fast winger who could run beyond opposition defences.

West Ham United’s Cryscensio Summerville and Ibrahim Mbaye of Paris Saint-Germain are the leading targets. Mbaye has recently enlisted the help of super agent Jorge Mendes, who also represents Emery. Both players would cost a similar figure and multiple sources, speaking on the condition of anonymity, believe Villa have narrowed the list, with the pair prominent in the club’s thinking.

However, following Rogers’ sale, Villa have also held talks regarding the possibility of signing Alejandro Garnacho, who is available to leave Stamford Bridge this summer. It is not clear whether they wish to pursue that further. But if the 22-year-old was to sign for Villa, it would likely impact the respective pursuits of Mbaye and Summerville, who is the subject of a bid from Roma.

If Garnacho moved elsewhere, or Villa decide against him, Summerville and Mbaye would remain the wide options. That could allow Villa to strike a deal for his Chelsea team-mate, Nicolas Jackson.

Similarly to last summer, Villa have recently explored signing the forward permanently, with Emery a long-standing admirer since they worked together at Villarreal. Jackson’s arrival would mean Villa had three options up front, including Ollie Watkins, who has interest from Turkey, and Tammy Abraham, who Villa are willing to listen to offers for but not actively looking to sell.

Jacob Tanswell

---

How would signing a player from Chelsea impact Villa’s Rogers profit?

Aston Villa’s interest in Chelsea players is curious, given the potential impact it would have on Villa’s ability to comply with financial regulations. As a reminder: they (and Chelsea, for that matter) currently have to work within a UEFA settlement agreement that limits their losses and, in the case of a breach, would see them banned from Europe for a year.

The Garnacho and Jackson interest becomes problematic in that sense because UEFA’s rules seek to avoid clubs inflating their bottom lines by what the governing body deems ‘player exchange transactions’, whereby players move in opposite directions between the same clubs in ostensibly separate transfers but within a short timeframe.

Where opposing deals are deemed an exchange transaction, UEFA limits the selling club to recognising their profit on sale at the book value of the player sale, adjusted for any net cash receivable in the context of the exchange transaction. More simply: any profit for the bigger seller of the two will be reduced to the net difference in fees; the smaller seller, likely to be Chelsea in this instance, would be able to record no profit on the sale at all.

In the context of the Rogers deal broken by The Athletic on Saturday evening, purchasing a Chelsea player(s) would eat into the chunky profit Villa are booking on Rogers — profit which is much desired for compliance with that settlement agreement.

UEFA actually tweaked the rule earlier this summer. Previously, the definition of a typical exchange transaction spanned a full transfer window. Revised regulations have shortened that to a period of 45 days, giving clubs greater scope for manoeuvre. Even that wouldn’t help Villa though, as the Rogers deal isn’t complete yet and there are now less than 45 days remaining in the summer’s transfer window.

It may, however, help others.

Newcastle, themselves now in a UEFA settlement agreement, sold Sandro Tonali to Tottenham on July 6. Newcastle now hold an interest in bringing Lucas Bergvall the other way, a transaction that would previously have eaten into those Tonali profits which, again, are mighty handy for compliance purposes.

The 45-day condition, though, and Tonali joining Spurs when he did, means Newcastle would have a shade under two weeks to complete the Bergvall deal at the end of the window — without negatively impacting the chunky profit they booked from selling the Italian for £92.5m a fortnight ago.

Chris Weatherspoon

---

Would Jackson merit another opportunity in the Premier League?

It feels like Jackson has been around for longer, but he is only 25 and has just 163 senior club appearances spread across three clubs. For all his wastefulness, those games have still brought 54 goals, a one-in-three ratio.

Jackson is not a clinical finisher, and his composure in front of goal is often circumspect. But in this current version of the Premier League, his hard running in behind defences to create space for playmakers and deft link-up play are valuable. He is a hard worker without the ball, and his positioning in the box is excellent.

If teams are willing to look past the clunky shooting mechanics, there is a player in there. Jackson will likely work best in teams that play him with another striker and allow him to drop into pockets and combine with his team-mates. Consistent minutes within a singular system — rather than playing under a different coach every season — would undoubtedly help too.

Anantaajith Raghuraman

---

What Else We’re Hearing

• Aston Villa are progressing in talks to sign left-back Pervis Estupinan from Milan. Personal terms are not expected to be an issue, with the two clubs now discussing the fee. Villa hope for the 28-year-old to replace Lucas Digne, who has undergone a medical ahead of an £8m move to PSG. Jacob Tanswell
• Chelsea have opened talks with under-21 striker Shumaira Mheuka over a new contract and want to get an agreement in place before sending him out on loan. The Athletic revealed in May that Chelsea were going to open negotiations with Mheuka, who joined from Brighton & Hove Albion for an initial £1m in 2024. Mheuka’s current deal runs out next year, although it does include an option to extend anyway. But Chelsea want to reward him for his progress with a long-term contract as well as making sure he stays at Stamford Bridge. The 18-year-old has already made nine appearances for the first team. He was named the Premier League 2 Player of the season for 2025-26 after scoring 18 goals in 19 appearances. Nothing has been finalised yet, but things are progressing well, and there is a confidence that it will be formalised soon. Simon Johnson
• Aston Villa are considering alternative right-back options after difficulty in agreeing a fee with Flamengo for Emerson Royal. The 27-year-old has informed Flamengo that he wishes to leave and join Villa, but talks are currently on hold. Jacob Tanswell and Mario Cortegana
• Crystal Palace have decided against pursuing Evann Guessand, with the attacker set to return to Aston Villa at the end of this month. Palace had an option to sign Guessand for £28m, which expired on May 31. They have opted against working to sign him through a different agreement. Guessand is available to leave Villa this summer. Jacob Tanswell and Matt Woosnam

• Brighton have rejected an approach from Anderlecht for Amario Cozier-Duberry after talks over a package worth around £5m. Augsburg, Paris FC and Rangers are also keen on the former Arsenal right winger, but Brighton regard Cozier-Duberry as part of their first team plans, and talks are continuing over a new contract. The 21-year-old’s current deal expires in June 2028. Brighton signed Cozier-Duberry on a free transfer from Arsenal in 2024. He helped loan club Bolton Wanderers to promotion to the Championship via the play-offs last season with nine goals and 13 assists in 37 League One appearances. Andy Naylor
• Ipswich Town have had an initial approach for Union Saint-Gilloise goalkeeper Kjell Scherpen (26) rejected. The Premier League newcomers are searching for a back-up and have also identified Volendam stopper Kayne van Oevelen (22) as an option. Sebastian Stafford-Bloor
• Sheffield Wednesday are set to sign a third player from Aston Villa this summer, with midfielder Tommi O’Reilly in advanced talks to join the League One side on a season-long loan. O’Reilly, 22, has played once for Villa, coming on as a substitute in the Conference League against Zrinjski Mostar in 2023. Jacob Tanswell
• Everton have taken 18-year-old forward Ollie Dewsbury on trial from Bristol Rovers this week. The Wales U19 international, who made his professional debut at 15, spent the second half of last season on loan at Weston-super-Mare, but has attracted interest from several clubs in the Premier League. Dewsbury will spend the week with Everton and could feature for the Under-21s in a friendly at Shrewsbury Town on Tuesday night. Gregg Evans
• Hamburg will complete the signing of Leicester City forward Patson Daka this week. Sebastian Stafford-Bloor
• Birmingham City are among several clubs interested in signing Arminia Bielefeld goalkeeper Jonas Kersken. Sebastian Stafford-Bloor

---

Arsenal

What happened to Arsenal’s pursuit of Morgan Rogers?

Rogers was a clear priority for Arsenal in this window. They carried out extensive background work on the deal, with Rogers subject to a charm offensive from Mikel Arteta and a number of Arsenal players. Arteta saw Rogers as someone who could bring a new dimension to the Arsenal attack.

Throughout this process, however, the club had a clear valuation of the player. Arsenal did not want to go beyond £80m for the 23-year-old.

Villa’s insistence on a fee in excess of £116m naturally led to a stand-off. Chelsea were able to take advantage, meeting Villa’s demands and wrapping up a deal in the space of 48 hours. Although Arsenal had believed they were Rogers’ preference, he was open to joining either club and personal terms proved no issue.

Once Chelsea had met Villa’s valuation, Arsenal were contacted to see whether they would be prepared to match the bid. They declined.

Who might they move for instead?

Having passed on meeting the Rogers fee, Arsenal will turn to alternative targets. France winger Bradley Barcola is one of several attackers on sporting director Andrea Berta’s radar, although PSG are reluctant to sell and value him in excess of £100m.

Arteta remains a huge admirer of Argentina forward Julian Alvarez, but Atletico Madrid’s position remains that the 26-year-old is not for sale — either within La Liga, or abroad.

How does Christos Tzolis fit into the picture?

Arsenal have agreed a fee with Club Brugge for 24-year-old Greek international Christos Tzolis. Although also predominantly a left-winger, their pursuit of Tzolis was always separate to any bid for Rogers. Tzolis effectively replaces Leandro Trossard, who has joined Besiktas for €20m.

Arsenal were prepared to meet Club Brugge’s £34m price tag for Tzolis because it matched their assessment of his value.

What other positions/players are they looking at?

Arsenal maintain their interest in Newcastle’s Bruno Guimaraes. Again, Arsenal have a clear valuation for the player, and will only proceed with the deal if Newcastle are willing to negotiate within those parameters. Alternatively, Arsenal will move on to other targets.

Concerns over William Saliba’s fitness may intensify Arsenal’s search for defensive reinforcements. Aston Villa and England’s Ezri Konsa is a target — but once again, there is a significant gap between Arsenal and Villa’s valuations.

Who might leave the club?

Trossard has said an emotional goodbye to Arsenal and been unveiled at Besiktas.

The first wave of Arsenal squad have reconvened at the club’s London Colney training ground. The group includes the likes of Reiss Nelson and Gabriel Jesus, who are among the players Arsenal are hoping to sell this summer.

James McNicholas

---

Chelsea

What has happened this week?

Chelsea agreed to make Morgan Rogers their new club record signing by agreeing a £117million fee with Aston Villa to sign him.

Negotiations were kick-started following England’s defeat to Argentina in the World Cup semi-final, a match the 23-year-old started. Terms with Aston Villa and the player were finalised by Saturday, and he had his medical on Monday.

Rogers has been given a six-year contract with the option of another 12 months.

How much does the Rogers move affect Chelsea’s ability to spend in the rest of the window?

The club will carry on recruiting, although making sales is going to continue to be a big factor in how arrivals are paid for. This is a must anyway due to the need to comply with financial rules.

Chelsea have already brought in around £140m in revenue from the sales of Marc Cucurella, Andrey Santos, Tyrique George and Jimmy Jay-Morgan, plus the compensation paid by Manchester City after Enzo Maresca left Stamford Bridge to become their new head coach.

But Chelsea have a lot of other talent they intend to offload before the deadline on September 1. They aim to take revenue from outgoings to over £300m for a second successive summer.

What positions/players are they looking at?

Chelsea have added England international John Stones to the list of centre-backs they are considering signing this summer.

Stones is available as a free agent after his contract expired at Manchester City. The 32-year-old impressed for England as they reached the World Cup semi-finals, playing in five of their eight matches.

Chelsea want to add more ready-made players to the squad and have shown by their pursuit of 34-year-old midfielder Granit Xhaka, a bid Sunderland rejected, that they are prepared to bring in older players.

They could bring in two centre-halves depending on exits. Chelsea have now made an official enquiry for Crystal Palace defender Maxence Lacroix, but he remains just one of their possible targets. Chelsea’s valuation of the 26-year-old is below the £55m fee that has been reported elsewhere. Como’s Jacobo Ramon is among the other contenders.

Talks with Rayo Vallecano over left back Pep Chavarria’s fee are ongoing, while Chelsea are close to confirming that Valentin Barco is joining from Strasbourg. Barco has been away with Argentina at the World Cup. The midfielder announced he was leaving Strasbourg at the end of last season and sources in France have told The Athletic he is heading to Stamford Bridge.

Bayer Leverkusen’s Kerim Alajbegovic is among the other attacking options being monitored. Any additions in this area of the pitch depend on sales.

The 18-year-old became the eighth youngest player to score at a World Cup when he found the net in Bosnia and Herzegovina’s 3-1 victory over Qatar last month. He was coming through the academy at Leverkusen when new Chelsea manager Xabi Alonso was head coach there between 2023 and 2025.

Which players could be leaving?

Chelsea want £65m for Nicolas Jackson, who is one of two players Aston Villa have enquired about buying from the London club. They are not the only Premier League keen on the Senegal international, while teams in Spain also like him.

The 25-year-old spent last season on loan at Bayern Munich. He is still appreciated at Chelsea and is in line to be included in the pre-season tour squad which leaves for Sydney on Friday.

But his chances of regular starts next season have diminished, with Joao Pedro first choice up front and Rogers earmarked to play in an attacking role on the left. Should he want to leave and a club meets the asking price, Chelsea will not stand in his way.

It is a similar scenario facing other strikers Liam Delap and Emmanuel Emegha. The latter has only just officially joined from Strasbourg after a deal was agreed last September.

Delap, who scored only three goals following his £30m switch from Ipswich Town last year, has a lot of interest from Premier League clubs.

Striker Marc Guiu will definitely leave on loan or on a permanent basis. Chelsea are asking for £25m.

A big factor in Chelsea’s valuation of the 20-year-old, who joined from Barcelona for £5m two years ago, is the importance of the position he plays. Brighton’s purchase of 18-year-old Charalampos Kostoulas from Olympiacos for €35m in 2025 has been used as a gauge. Chelsea will have to keep at least one striker to act as back-up for Joao Pedro.

Chelsea are also demanding €50m for Alejandro Garnacho. The winger, who Aston Villa have also contacted Chelsea about, is liked by another Premier League team plus two in Serie A. The 22-year-old wants to leave in order to get more first team football.

Another winger, Pedro Neto, has also been left off Chelsea’s ‘not for sale list’. But he is still highly regarded and it will take significantly more than Garnacho’s figure to prise him away.

Chelsea are prepared to cash in on Enzo Fernandez and Malo Gusto if a team pays £120m and £75m respectively.
Como are very keen on Trevoh Chalobah and remain in talks. Chelsea are looking for a total sum of £35m.

Two more centre halves for sale are Benoit Badiashile and Axel Disasi. Aaron Anselmino is taking part in pre-season training but a decision on what happens next has yet to be made. The aim is to loan Mamadou Sarr to an English club.

Goalkeeper Filip Jorgensen has asked to leave to get more game time. USMNT international Gabriel Slonina is being looked at by Strasbourg. He is training with them and played in the second half of a friendly against Sporting CP on Monday night. Nothing is advanced but the aim is sell the 22-year-old to a club this summer.

Chelsea are also looking to seal the departures of David Datro Fofana (sale), Kendry Paez (loan), Omari Kellyman (loan), Deivid Washington (loan), Caleb Wiley (loan) and Shumaira Mheuka (loan).

Simon Johnson

---

Liverpool

What has happened this week?

Andoni Iraola welcomed his non-international players back to pre-season training and began preparing for the U.S. tour.

He also spoke about the future and what he wants from this season during his first official press conference.

Dominik Szoboszlai ended months of speculation by signing a new deal — something he always wanted when talks began at the back end of last season, and Liverpool closed in on the £750,000 signing of Samuel Martinez, the 17-year-old Colombian attacking midfielder from Atletico Nacional.

Iraola says he needs more players — does he?

Absolutely. Liverpool were an attacker light last season and have now let Mohamed Salah leave. Hugo Ekitike is also expected to miss a good chunk of the season as he recovers from an Achilles injury, so the need for reinforcements up top is essential.

World Cup winner Victor Munoz is a good addition, but at least one more versatile forward is needed. Liverpool could also do with a new midfield recruit to strengthen the department as well as a right-sided defender.

What positions/players are they looking at?

The focus is still the wide positions to help replace Salah. This has been a priority all summer, and Liverpool are weighing up options to see how they can strengthen before the start of the season.

Paris Saint-Germain’s Bradley Barcola is the player Liverpool would love to add to their squad, and they continue to monitor his situation.

Other options remain under consideration.

Which players could be leaving?

Curtis Jones’ future remains uncertain as Inter retain a strong interest in the midfielder but are yet to return with a new bid.

Liverpool rejected a second bid of around €25m (£21m) earlier in the month, and Iraola said that he wants to keep him.

With his contract ending next summer, he’s at a crossroads, and a decision will need to be made this summer or Liverpool risk losing another valuable player for nothing for a third year in a row.

Federico Chiesa is still expected to leave, but it will hinge on future incomings.

Hungarian goalkeeper Armin Pecsi has joined Austrian side Hartburg on loan for the season. Liverpool are also expected to include the likes of Luke Chambers, Calvin Ramsay, James McConnell and Ifeanyi Ndukwe in the U.S. trip and will then listen to loan offers later in the window.

A number of clubs in Scotland are interested in Ramsay, while Championship side Queens Park Rangers like Chambers.

Gregg Evans

---

Manchester City

What has happened this week?

It was a quiet week on the City front as the World Cup came to an end, but staff did report back to the CFA on Friday. Sverre Nypan moved on loan to City Football Group sister club Lommel, while Reigan Heskey joined Koln.

Last Tuesday, The Athletic’s David Ornstein reported that City are pushing hard for Lille’s Ayyoub Bouaddi ahead of the teenager making a decision on his future.

What would Bouaddi add to the City squad?

City see Bouaddi as somebody who will need to improve in attacking areas, but are convinced of his ability as a deep-lying, combative midfielder who is very comfortable on the ball.

That is the kind of player the club believe is necessary in an increasingly physical Premier League, and helps explain why they have also moved for Elliot Anderson.

What positions/players are they looking at?

City are planning for one of their busiest windows in years due to the number of players that could leave, and the replacements that would have to arrive.

City are not aiming to bring in equal numbers to those that depart, but with several players already out — including Bernardo Silva, John Stones and Nathan Ake — and many more considered possible or even likely exits, the club are prepared to make several signings beyond their priority areas of right-back, central midfield and winger.

Which players could be leaving?

The list is inevitably the same as it has been for weeks now, although there should be more movement as pre-season comes into view. Rodri’s future is up in the air as he has one year left on his contract, and although he has so far shown little desire to sign a new deal, more talks are expected after the World Cup.

Mateo Kovacic, James Trafford and Nico Gonzalez are all considered likely to go, as is Savinho, who has been tracked by Tottenham.

There is also uncertainty around Omar Marmoush and Tijjani Reijnders, while Ruben Dias has been of interest to Real Madrid. Kalvin Phillips and Jack Grealish will be moved on if the right options come along.

Sam Lee

---

Manchester United

What has happened this week?

Manchester United completed the £35million transfer of Youri Tielemans, with the Belgium international, 29, signing a five-year deal. United triggered the release clause in his Aston Villa contract.

Karl Darlow joined on a free transfer after his Leeds United contract expired. The goalkeeper, 35, will provide support for No 1 Senne Lammens.

United announced the signing of 18-year-old left winger Tynan Thompson from Tottenham. An agreement was struck at £4m guaranteed plus £4m in potential bonuses based on first-team progress, with Spurs retaining a 15 per cent sell-on. Thompson is part of United’s “emerging talent” recruitment drive, and he is set to go into first-team training.

Fenerbahce announced Mason Greenwood’s transfer from Marseille for €39m, which should land United nearly €13m due to a sell-on clause.

United played their first pre-season friendly, against Wrexham in Helsinki, losing 1-0.

Marcus Rashford’s exit clause has expired. Does it feel like he’ll be around next season?

As things stand, the plan is to reintegrate Rashford once he is back from his three-week break following England’s World Cup run.

Barcelona’s decision to sign Anthony Gordon rather than trigger the €30m option for Rashford reset expectations and last week’s expiry of the £40m release clause in his contract showed there would be no quick solution.

In that light, Rashford is due to rejoin United’s squad in time for their week in Dublin around the friendly game against Leeds United. Michael Carrick played alongside Rashford and coached him under Jose Mourinho and Ole Gunnar Solskjaer, so the landscape is different than when Ruben Amorim was in charge.

He has shown at Barcelona, and with England, that he remains an asset when on form. But all parties will see how the situation lands when Rashford returns, and the market develops.

His presence would impact any potential move for Summerville, while also being a factor in Patrick Dorgu’s role at United. Dorgu started at left wing against Wrexham.

What positions/players are they looking at?

Bringing in a third midfielder is still on the agenda, with United appearing to need a combative player capable of covering large distances.

Manu Kone has been discussed, but at this stage it is not certain United would commit the finance possible required to sign him from Roma. Those budgetary concerns also suggest Alex Scott, who is well-liked by figures at the club, is out of reach given Bournemouth’s insistence he is not for sale. Scott is the subject of interest from Arsenal and Chelsea.

As well as left-wing options, United have looked at potential left-backs, with people at the club liking Newcastle’s Lewis Hall. But Rashford’s return and Dorgu’s position have an impact there, while Leny Yoro was deployed at right-back in Helsinki, possibly raising the prospect of Noussair Mazraoui switching to an option at left-back, where he played for Morocco.

United will assess the leg injury Lisandro Martinez sustained in the World Cup final, although centre-back was an area further down the priorities in any case.

United are looking at centre-forward too. Benjamin Sesko is still returning to full fitness after his shin injury, and did not travel to Finland.

Which players could be leaving?

Goalkeeper Radek Vitek, who played 45 minutes against Wrexham, was clear in his desires for first-team football when speaking after the game.

The 22-year-old is open to a loan or permanent move, and several clubs have registered their interest. “I’m ready to go somewhere again and hopefully be number one,” he said. “It depends on what the club wants and also on the options. There has been a few interests on the table. We’re hoping to choose the best one, and hopefully it will happen soon.”

Altay Bayindir is also expected to leave.

The situation is open on Joshua Zirkzee, who started in Helsinki.

Laurie Whitwell

---

Newcastle United

What has happened this week?

Confirmation of Aston Villa gazumping Newcastle to sign Mazambi arrived on Friday, though most at the club had accepted for around a week that the Switzerland international was heading to the West Midlands instead.

Alternative midfield targets were already being explored long before Villa announced Mazambi’s capture. Joao Gomes had briefly been discussed internally, but he has also moved to Villa Park, though Newcastle did hold exploratory conversations with Tottenham regarding the potential availability of Bergvall.

The Athletic reported on Friday that Newcastle made a £46million ($61.9m) proposal for the 20-year-old Sweden international, which Spurs rejected.

Meanwhile, the members of Eddie Howe’s squad who did not participate in the World Cup returned for pre-season testing and training, before taking on National League North side Darlington in a behind-closed-doors friendly at ‘The KNOX’ training ground on Saturday.

Howe fielded two separate XIs for each half of the opening practice match, with a senior team playing for the first 45 minutes and a largely second-string side sent on after the break. Joe Willock, Will Osula and Sean Neave scored, while summer signings Ewen Jaouen and Sean Steur both played.

Fabian Schar missed the runout due to illness but is due to train this week, while Joelinton is being eased into pre-season following an injury-disrupted 2025-26, with Newcastle keen to build up the Brazilian’s fitness.

Another exciting addition is close for Robbie Stockdale’s under-21s, too, with 19-year-old former Levante striker Afner Ca having joined. The Guinea-Bissau forward will be the latest in a raft of signings who are being brought in to bolster the academy set-up.

Joe White, the 23-year-old midfielder, joined League Two Crewe Alexandra on a permanent deal, following a decade on Tyneside.

Is a lack of European football turning into a problem for Newcastle?

Manzambi choosing Villa over Newcastle has prompted this narrative, but the Tynesiders’ lack of European football was already a ‘problem’, if that is the right word.

Failing to get back into the Champions League or any form of UEFA competition for 2026-27 has massively hit Newcastle’s revenue streams, costing the club an estimated £60m in annual income.

Despite not being in Europe for the upcoming campaign, Newcastle are still being governed by the strict future-compliance settlement they have reached with UEFA, which played a part in the sales of Gordon and Tonali, for up to €80m (£67.9m, $91.5m) and £100m, respectively. Offloading Gordon ensured Newcastle would avoid a further breach, while Tonali’s sale gives the club far greater scope to invest more widely across the squad this summer.

Beyond the financial ramifications of finishing outside of the European spots, Newcastle’s attractiveness has also been hit further, especially when they are in direct competition with Champions League clubs. Newcastle had a list of targets who they felt would have been potentially attainable had they been in Europe, like Lille attacker Matias Fernandez-Pardo, but moved on to others once their fate was confirmed.

With Manzambi and Villa, just as happened with Munoz and Liverpool last month, Newcastle have lost out after going head-to-head with a Champions League club. That is their present reality.

However, Newcastle are adamant that they will still bring in quality additions to bolster Howe’s squad, even if there remains the risk they will miss out on players should elite or European clubs offer competition.

What positions/players are they looking at?

Howe wants to bring in a midfielder (should Willock leave), at least one full-back and a goalkeeper. Whether another wide attacker is pursued later in the window remains to be seen.

With priority target Manzambi now at Villa, Newcastle have been actively pursuing other midfielders for more than a week. Botafogo’s Danilo, 25, is among those discussed.

Eintracht Frankfurt’s Hugo Larsson, 22, is another who has featured during internal conversations. Auxerre’s Kevin Danois and Stuttgart’s Angelo Stiller are also among those watched.

At full-back, 21-year-old Joaquin Seys from Club Brugge was discussed in January.

Goalkeeper-wise, Manchester City’s Trafford, who Newcastle have twice tried to sign, remains the primary target, and movement may now be possible following the culmination of the World Cup. However, Newcastle have been looking at alternatives, and Parma’s Zion Suzuki, the 23-year-old Japan international, has featured during internal discussions, while Brighton’s 25-year-old goalkeeper Carl Rushworth has also been floated.

Which players could be leaving?

Newcastle insist Guimaraes, their captain, is not for sale, though whether Arsenal seriously test that resolve by making a sizeable offer remains to be seen, given the Brazilian has communicated his desire to explore joining the champions.

Nick Pope is expected to leave should a new No 1 goalkeeper arrive. Newcastle cannot allow Pope to depart until they have signed, or are confident of signing, a replacement. No firm interest has yet been shown in the 34-year-old.

Willock is available, with the former Arsenal midfielder entering the final year of his contract, though Newcastle have not received any concrete offers.

Jacob Murphy is also into the last 12 months of his deal, and bids would be considered.

Neave, the forward, and Leo Shahar, the right-back, may both be considered for potential loan moves. However, temporary exits for the 19-year-olds will not be sanctioned until later in the summer, given the depleted resources Howe is currently working with. Both will get further opportunities to impress during pre-season, having come on against Darlington, a friendly in which Neave scored.

Chris Waugh

---

Tottenham Hotspur

What has happened this week?

Tottenham sold 18-year-old left-winger Thompson to Manchester United for an initial £4m, rising to £8m depending on his progress at Old Trafford.

Thompson was part of an impressive crop of youngsters at Hotspur Way, including Luca Williams-Barnett and Jun’ai Byfield, but Thompson and his family had a desire to relocate from London due to family circumstances. Tottenham hold a 20 per cent sell-on clause plus matching rights should he move on from United in the future.

Spurs have also rejected a £46m bid from Newcastle United for midfielder Bergvall. The 20-year-old has also been subject to bids from Nottingham Forest, who see the Sweden international as a potential replacement for Anderson.

Does it feel like Bergvall will leave?

Forest and Newcastle are keen on Bergvall, who found himself out of favour under Roberto De Zerbi last season. Bergvall has told Tottenham that he would like to seek a new challenge, and the club would be open to parting ways with him should an interested party get closer to their valuation.

Tottenham have not set an asking price for Bergvall, though David Ornstein told The Athletic FC podcast that interested parties believe the north London club are holding out for a figure closer to £60m.

What positions/players are they looking at?

Tottenham remain interested in a left-winger, and Savinho is among the names on their list. Spurs tabled several bids to Manchester City for the Brazil international last summer but could not close a deal. The 22-year-old was in and out of the City side under Pep Guardiola, and Tottenham retain their interest.

But it’s not just on the left that Tottenham are looking for reinforcements; they are short on forwards across the board. Spurs could do with another central striker, particularly if Richarlison departs. Depth is also short on the right side of attack, with just two natural right wingers; one of those is Dejan Kulusevski, who has been injured for over a year, and the other is Mohammed Kudus, who was sidelined in January with a thigh injury.

Which players could be leaving?

Cristian Romero and Guglielmo Vicario are both expected to depart this summer. Romero started in central defence for Argentina in their 1-0 defeat after extra time by Spain in the World Cup final, but was substituted in the 70th minute with an injury.

In attack, Mikey Moore could move on loan, while Spurs are open to offers for Richarlison.

Elias Burke

---

Barcelona

What has happened this week?

Barcelona have all but confirmed their next signing, Karim Adeyemi. The striker will arrive from Borussia Dortmund to bolster an attack that is short of options following Robert Lewandowski’s departure and the uncertainty surrounding Ferran Torres.

Adeyemi passed his medical at the end of last week, and the club hopes to make the signing official early this week, as there were still some administrative details to be finalised. Sporting director Deco and president Joan Laporta were in New York supporting the Spanish national team in the final.

La Liga president Javier Tebas also confirmed from New York that Barcelona are now in compliance with the 1:1 rule, allowing them to operate normally in this transfer window.

“Yes, they’re at 1-1. Given the deals they’ve done, they have to be,” Tebas said on Sunday.

Will the World Cup absentees impact squad planning?

Barcelona will have to tackle the first part of their pre-season without their star players. They are the club that contributed the most players to the winning national team, Spain, with eight players.

While it remains to be seen whether any of the players will cut their holidays short — they are entitled to a three-week break — the plan is that none of the Spanish players will be at Barcelona’s pre-season training camp at St George’s Park in the UK, from 27 July to 4 August.

Head coach Hansi Flick will therefore have to get creative and rely on players from La Masia when planning for the season. Sixteen players from Barca Atletic and the youth team have been training under his guidance since the squad returned to training.

Furthermore, there is uncertainty over when Frenkie de Jong — who was injured while playing for the Netherlands during the World Cup in the round of 32 against Morocco — will be able to return. He is continuing to undergo medical tests with the club, which estimates he will be out for a few months.

Ronald Araujo, who was eliminated with Uruguay in the group stage, has already been training separately, having recovered from the minor calf injury he sustained just before the World Cup.

Raphinha is also expected to return during the training camp, but he will likely not travel with the team initially.

There is good news concerning Fermin Lopez, who was injured on May 17 against Betis — a fracture of the fifth metatarsal in his right foot. He underwent surgery, with an expected recovery time of between two and three months. He is making very good progress and his return will be a huge boost for Barcelona, as he was one of last season’s standout players with 13 goals and 16 assists.

What positions/players are they looking at?

Their top priority is a centre-forward. Although they have already signed Adeyemi, Alvarez remains their top target. Now that the World Cup is over, this is when Barcelona’s big summer saga will really take off.

The Catalan club has pinned all its hopes on securing his services, and he has publicly expressed his desire to leave Atletico Madrid “to fulfil my dream”, as he said in an interview with ESPN in the mixed zone after the Argentina’s win over Austria.

Which players could be leaving?

Ansu Fati has already left for Monaco for €11m, and the 20-year-old American goalkeeper Diego Kochen has joined Danish side Lyngby BK on loan until the end of the season. Lewandowski’s contract expired, and he left for Chicago Fire in the MLS, while Inaki Pena was sold to Panathinaikos for €3m.

The next to leave could be Marc Casado, who is not in the club’s plans. According to sources close to the player, speaking under the condition of anonymity to protect relationships, the player would like to stay at the Catalan club. However, Flick has made it clear to him that he will not be getting any playing time, just as was the case last season. The club wants to find him a new club through a sale.

Another player they are open to selling is Torres, to avoid making an additional payment to Manchester City. His contract runs until 2027, and the player has not yet received a renewal offer.

As The Athletic has reported, owing to a clause in that deal, Barca would have to pay the Premier League club a fee in the region of €7-8m if he were to extend.

Goalkeeper Marc-Andre ter Stegen is close to a loan move to Ajax, as reported in The Athletic.

Laia Cervello

---

Real Madrid

What has happened this week?

It has been another quiet week in terms of transfers, with attention focused on the first week of pre-season under Jose Mourinho.

Two names have taken centre stage in the transfer market, with reports again linking Manchester City’s Rodri and Bayern Munich’s Michael Olise to Real Madrid.

The Athletic reported on Saturday that club sources kept saying that the Manchester City midfielder, named the best player of the 2026 World Cup, is not part of their plans.

Madrid’s stance on Olise remains unchanged, with internal sources referring to the official statement in which they denied any negotiations regarding him. Sources with close ties to Madrid say the club has made it clear that signing the France international from Bayern is not seen as feasible this summer.

Which young players should we keep an eye on in pre-season?

Arda Guler (21), Endrick (19), Gonzalo Garcia (22), Franco Mastantuono (18) and Thiago Pitarch (18).

Guler has always been singled out by the club as one of the cornerstones of their project, for bringing technical finesse to a team full of physicality and for his special understanding with Kylian Mbappe.

The plan months ago was that Gonzalo would leave this summer, with Madrid planning to retain power over his future. But Mourinho wants to see him in pre-season before approving the departure. In his first year in the top flight, the striker scored eight goals and provided three assists, averaging a goal contribution every 133 minutes.

Endrick, for whom Madrid paid Palmeiras a fee of up to €60m in 2022, has returned from a successful half-season loan spell at Lyon. The Brazilian is a significant financial and sporting investment by the club, and Mourinho wants to see him play not only as a striker but also on the right wing.

Mastantuono had a disappointing first season after Madrid paid €63.2m for him last summer, and the club was open to listening to offers for a loan move. However, he is a type of player that Mourinho values, and the Portuguese coach wants to see him in pre-season.

Pitarch was the other last season’s standout breakthrough from the academy, particularly under Alvaro Arbeloa, who is now head coach of Fulham. No final decision has been made on his future yet.

What positions/players are they looking at?

Mourinho is keen for Madrid to sign another centre-back and another midfielder.

However, the club’s message, both internally and externally, is that much of the work in the transfer market has been done and that it is now time for players to leave.

Which players could be leaving?

Centre back Raul Asencio and midfielder Eduardo Camavinga are two players for whom the club would consider offers.

However, there has been no indication so far that either of them wants to leave. The coach has spoken to all the players, outlining his plans for them, and it remains to be seen what impact this might have.

Mario Cortegana