Welcome to the fourth 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.
David Ornstein’s One To Watch
Leading the line for the USMNT at a home World Cup is no mean feat, but Folarin Balogun has taken to the task with assuredness.
Balogun scored twice in his side’s 4-1 victory over Paraguay — becoming the first American man since 1930 to do so at the tournament — and secured a second consecutive player of the match award in their 2-0 win against Australia.
It takes the United States to the knockout stage and sees Balogun’s reputation continue to rise.
The 24-year-old came through the Arsenal academy, but opportunities were limited and, after loan spells at Middlesbrough and Reims, he was sold to Monaco. He has registered 31 goals in 91 appearances across all competitions so far.
Such form at club and international level — Balogun has 11 in 29 games for the U.S. — will raise questions about his future, and The Athletic understands a move this summer is expected.
Balogun has scored two at this summer’s World Cup (Dean Mouhtaropoulos/Getty Images)
The forward’s contract expires in June 2028, so now would normally be the time to renew or sell. There have been no talks about an extension, and it is believed that Balogun favours a transfer.
There are plenty of suitors, and early discussions have taken place, although nothing is advanced, and a firm direction of travel has yet to emerge.
There is interest from the Premier League — where his homegrown status is particularly attractive — and elsewhere in Europe, including Italy.
It is anticipated that Monaco will seek a fee in the region of €50million (£43.2m; $57.1m) for Balogun, which would represent a €20m profit on the deal that brought him to the south of France in 2023.
Is Balogun ready for a move back to England?
Balogun’s development across four seasons in France provides reasons for optimism.
The USMNT striker has improved from a more ball-to-feet striker who averaged 2.8 take-ons per 90 in 2022-23, his first season in France, to a skilled runner in behind averaging 1.4 take-ons per 90 in 2025-26.
Balogun’s pace is his biggest asset, and he combines that with the ability to get on defenders’ blind sides and curve his runs to bypass the offside trap.
In the box, he has consistently improved. As the shot evolution map below shows, Balogun has always prioritised quality over quantity but has become more active in the six-yard box.
Balogun takes risks with his passes. He completed just 60 per cent of his attempts in the final third in 2025-26, but his eight big chances created led all Ligue 1 centre-forwards and ranked joint-seventh among his positional peers in Europe’s top five leagues.
He has been unfazed by the pressure of a World Cup too, scoring twice from 0.7 expected goals against Paraguay, while feeding off the home crowd’s energy.
There is plenty to love about Balogun’s game and, at 24, this summer might be the right time to return to England.
Anantaajith Raghuraman
What Else We’re Hearing
- Aston Villa have expressed a strong interest in West Ham United’s Jarrod Bowen. No club-to-club discussions have taken place and Villa view an agreement as currently difficult to do because they need to make player sales. Unai Emery is a huge admirer of the forward, but the 29-year-old, who has four years left on his contract, has not decided whether he wishes to leave. Industry sources say they would expect talks for the player to start at £50m, but sources at West Ham, who were relegated to the Championship last season, have indicated they are not looking to sell. Jacob Tanswell and Roshane Thomas
- Chelsea are interested in Crystal Palace defender Maxence Lacroix. Palace would prefer to keep their squad together, but their strategy has typically been to develop players and sell for a profit, which can then be reinvested. Palace are not under significant pressure to sell as the 26-year-old has three years on his contract. They would consider striking a deal at the right price, but would need to have a replacement identified before allowing Lacroix to leave. Simon Johnson and Matt Woosnam
- West Ham are interested in Brighton winger Amario Cozier-Duberry. The 21-year-old helped Bolton Wanderers gain promotion to the Championship during a season-long loan and was nominated for the EFL League One player of the year award. Cozier-Duberry, a long-standing target for West Ham, has two years remaining on his contract and discussions have been held over an extension. Roshane Thomas
- Leeds United and Harry Wilson’s representatives are in positive talks over the terms of a deal which would take the Wales international to Elland Road. The 29-year-old’s Fulham contract expires this month and he will be a free agent from July 1. A move to Leeds collapsed on the final day of last summer’s transfer window, but both parties are now trying to find an agreement. Competition for Wilson’s signature is fierce, with other clubs also in talks with representatives of the player, who scored 10 Premier League goals last season. Beren Cross
- Galatasaray remain interested in Turkish international midfielder Can Uzun, but are unlikely to meet Eintracht Frankfurt’s €60m price tag. Sebastian Stafford-Bloor
- Jason Steele is on a list of candidates who could come in as a reserve goalkeeper for Tottenham Hotspur. The 35-year-old Brighton player is seen as a good option, having worked with Spurs head coach Robert De Zerbi during their time together at the south-coast club. Sebastian Stafford-Bloor
- Bayern Munich and Eintracht Frankfurt are still to reach an agreement for Nathaniel Brown, but a deal is now close. Sebastian Stafford-Bloor
- Galatasaray remain eager to sign Turkish international midfielder Can Uzun, but are unlikely to meet Frankfurt’s €60m price tag and are seeking an agreement for a lower fee. Sebastian Stafford-Bloor and Asli Pelit
- Aston Villa trio Mohamed Kone, Kadan Young and Zepiqueno Redmond are expected to join Ligue 2 side FC Annecy on loan. Annecy, who are incorporated in Villa’s multi-club network, will sign highly-rated midfielder Kone, 18, winger Young, 20, and forward Redmond, 20, who joined from Feyenoord last summer for the duration of the 2026-27 season. Jacob Tanswell
Arsenal
What has happened this week?
Arsenal have opened negotiations for Leicester City’s 16-year-old winger Jeremy Monga.
There is no agreement yet as talks continue over a suitable fee. Although there is interest from elsewhere, the player’s preference is believed to be to join the Premier League champions.
Would the fee for Monga be determined by tribunal?
Almost certainly not. The player is scheduled to sign professional terms with Leicester in the summer, so Arsenal will have to negotiate a fee as with any conventional signing.
Arsenal would have to negotiate a fee for Monga (Stephen White – CameraSport via Getty Images)
What positions/players are they looking at?
Arsenal’s drive to recruit leading emerging talent has extended to interest in 17-year-old Georgia U21 international Andria Bartishvili. Arsenal hope to secure a deal for the midfielder.
Which players could be leaving?
Arsenal remain keen to engage in player trading this summer. They are open 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
Chelsea
What has happened this week?
There have been reports elsewhere about Real Madrid’s pursuit of Enzo Fernandez, and that a deal for him to follow Marc Cucurella, who agreed to move to the Bernabeu last week for £51.7m, is being lined up.
Chelsea are not in a rush to get rid of the Argentina international, who they rate highly. While he is not on the ‘not for sale’ list, they value the midfielder at £120m. There has been no approach to sign him from Real Madrid yet.
Under-21 striker Jimmy-Jay Morgan completed a permanent move to West Bromwich Albion, signing a four-year contract.
What do Chelsea need to prioritise?
Chelsea are not involved in European competition next season, so the task of keeping all players happy is a lot harder.
Chelsea have also attracted negative scrutiny in recent pre-seasons over how players with no future at Stamford Bridge — often referred by those outside of the club as ‘the bomb squad’ — have been treated.
The World Cup does not help matters because it has put a lot of transfer business on hold (in general, not just at Chelsea). Some decisions on who stays and goes will also have to wait until Xabi Alonso gets to work with individuals in pre-season and gets a chance to assess what they can do.
But the sooner those who are not part of the plans are sold, the better. It will also provide welcome revenue for Chelsea, who have been good sellers over the years, which can be reinvested in their main targets to strengthen the first team.
What positions/players are they looking at?
Chelsea want a minimum of two ready-made players with experience of playing in the top five European leagues.
The club will add a centre-back, and Crystal Palace defender Maxence Lacroix is one of their main targets for the position. There are three or four other names they are also considering.
Chelsea are interested in Palace’s Maxence Lacroix (Chara Savvidou/Getty Images)
With three years remaining on his contract, Palace are not under pressure to cash in, but they would consider selling at the right price and are in a reasonably strong negotiating position. They would need to find a replacement before allowing Lacroix to leave, especially as they did not sign a centre-back when Marc Guehi joined Manchester City in January.
Another player Chelsea are going to add is a versatile attacker. That is why they have maintained their strong interest in Aston Villa’s Morgan Rogers despite facing strong competition from Arsenal and Paris Saint-Germain.
While they have yet to confirm a deal has been agreed, sources in France say that Valentin Barco is going to join from Strasbourg.
Chelsea have winger Geovany Quenda and striker Emmanuel Emegha officially completing their moves from Sporting CP and Strasbourg, respectively, although a decision on the latter’s involvement in 2026-27 has yet to be taken.
Goalkeeper Mike Penders, who spent last season on loan at Strasbourg, is going to be given the chance to compete with first choice Rob Sanchez.
Which players could be leaving?
Chelsea are prepared to sell Fernandez if a club agrees to meet their £120m price tag.
One of the strikers, not including Joao Pedro, will be sold. Liam Delap is a real contender to be the one who goes after a disappointing first season. There is more than one Premier League club keen to buy him.
Nicolas Jackson, who was on loan at Bayern Munich last season, is another possibility, although he could get another chance at Chelsea now that Enzo Maresca is no longer head coach. Marc Guiu is expected to depart on loan or permanently.
Defender Trevoh Chalobah is already the subject of enquiries from clubs in England and abroad. He is highly regarded at Chelsea, and they are in no rush to sell him. He has two years left on his contract, but there is an option for an extra year.
As with other centre-backs, Wesley Fofana, Benoit Badiashile, Tosin Adarabioyo and Mamadou Sarr, what happens next may depend on whether Chalobah is content to drop down the pecking order when a new centre-back is signed.
Defender Axel Disasi is already looking for a permanent move after a good loan at West Ham United and has interest from Premier League clubs and abroad.
Backup goalkeeper Filip Jorgensen has asked to leave and will be sold. Everton have an option to buy winger Tyrique George worth £25m as part of the short-term loan deal agreed in February. If they do not opt to trigger it, other clubs are keen to sign the academy graduate.
Another goalkeeper, USMNT international Gabriel Slonina, will be sold or loaned. Striker David Datro Fofana is for sale. Caleb Wiley, Kendry Paez, Deivid Washington and Shumaira Mheuka are all candidates for a loan.
Simon Johnson
Liverpool
What has happened this week?
Liverpool made their first move of the summer by signing Victor Munoz from Osasuna for €40million (£35m; $46m) and they also stepped up their pursuit of RB Leipzig’s Yan Diomande.
The deal for Munoz was wrapped up quickly as Liverpool beat Newcastle United to his signature. Club staff were dispatched to Spain’s World Cup base in Tennessee to conduct a medical, and the winger penned a six-year contract.
Liverpool contacted Leipzig to inform them they would be willing to offer a €100million (£86.8m; $115m) package for Ivory Coast forward Diomande. However, the Bundesliga club rejected that proposal and Liverpool are now considering whether to return with a higher bid.
Are Liverpool targeting anyone else if they can’t get Diomande?
The 19-year-old is their top target and has been for some time, but other players are under consideration if an agreement cannot be found.
Leipzig want to keep Diomande and extend his contract but are expected to consider a higher bid in excess of €130m.
Brighton & Hove Albion’s Yankuba Minteh, Said El Mala of FC Koln and Lille’s Matias Fernandez-Pardo have been looked at, but nothing has progressed with West Ham’s Crysencio Summerville despite some interest earlier in the year. Liverpool are also admirers of Paris Saint-Germain’s Bradley Barcola.
Diomande, right, is at the World Cup with Ivory Coast (Alexander Hassenstein/Getty Images)
What positions/players are they looking at?
Strengthening the wide positions this summer was key, so the hope is that Munoz, who can operate on either flank, brings a fresh energy to an area that was lacking last season.
Liverpool are trying to replace Mohamed Salah following his exit, but they recognise it will be difficult to find a like-for-like alternative and are therefore looking at others to step up.
Midfield is an area that also needs strengthening and a right-sided defender would be useful following Conor Bradley’s serious knee injury.
Which players could be leaving?
Curtis Jones remains the most likely exit despite Liverpool rejecting a second bid from Inter for around €25million (£21.7m; $28.7m).
Liverpool want around €40m to sell Jones, who has one year remaining on his contract at Anfield, and is now at a crossroads in his career.
Federico Chiesa is also weighing up his options after two years largely spent on the sidelines at Anfield. The Italian wants regular minutes and Liverpool will not stand in his way if a suitable offer arrives.
Trey Nyoni is attracting plenty of interest from teams in the Championship and across Europe and is likely to go out on loan, but no final decision will be taken until later in the summer with the 18-year-old midfielder set to be given the chance to impress new head coach Andoni Iraola in pre-season.
Luke Chambers, Kieran Morrison, Amara Nallo, James McConnell and Armin Pecsi are all expected to be loaned out. Owen Beck will stay put as he recovers from injury. Luca Stephenson will leave on a permanent basis and Kaide Gordon could follow suit.
Centre-back Ifeanyi Ndukwe, 18, who officially joins Liverpool next month after a £2.5million deal was struck with Austria Vienna in January, is likely to spend next season out on loan.
James Pearce and Gregg Evans
Manchester City
What has happened this week?
City’s interest in Sandro Tonali remains. The Athletic reported that the Italian is being pursued as well as Nottingham Forest’s Elliot Anderson while Tottenham have opened talks with Newcastle for Tonali. That provokes questions about Rodri’s future, as the midfielder has one year left on his contract.
City were able to make strides on other new deals, though, with Josko Gvardiol agreeing a five-year contract, and Jeremy Doku is moving closer to an extension, too.
Would Tonali suit City?
As an energetic, box-to-box presence, Tonali could bring a lot to the party at City, especially as Enzo Maresca looks to rebuild following the departure of Bernardo Silva. Where Pep Guardiola leaned into the nous and smarts of Bernardo and Rodri, Maresca may take a more dynamic route, a little like his duo of Moises Caicedo and Enzo Fernandez at Chelsea.
In that sense, Tonali makes a lot of sense, though if we are still viewing things through Guardiola’s eyes, a more traditional ‘standing’ holding midfielder, one who will not roam too far from his station, might make more sense if Rodri leaves. That said, this is a new era at City and a powerful, artistic combination of Tonali and Anderson could have the skills to shine in completely different ways.
Tonali is of interest to several Premier League clubs (Alex Livesey/Getty Images)
What positions/players are they looking at?
City are looking at a right-back, holding midfielder and a winger, but would broaden that out into other positions depending on outgoings. For example, if they lost a goalkeeper, they would look to bring in a new one.
Which players could be leaving?
Several players have question marks over their future. Nathan Ake is expected to leave, while Mateo Kovacic could also go. Ruben Dias is of interest to Real Madrid, although any move for the 29-year-old would likely depend on a departure from Madrid’s defensive options.
James Trafford is the subject of interest from several clubs, Nico Gonzalez could move on after being unable to nail down a consistent starting role in the last 18 months, and it could be a similar story for Tijjani Reijnders.
Savinho is the subject of interest from Tottenham, while Kalvin Phillips and Jack Grealish will be looking for new clubs, either on loan or permanently.
Rodri has one year left on his deal, and there is no sign of a new agreement at present, but there are doubts over whether he would leave this summer or on a free next year, if he does not extend his stay at City.
Sam Lee
Manchester United
What has happened this week?
United continued to pursue a move for West Ham’s Mateus Fernandes, one of their priority targets, but Tottenham Hotspur emerged as another potential contender for the 21-year-old, who has also attracted interest from Paris Saint-Germain and Real Madrid.
Ederson made the first World Cup appearance of his career in Brazil’s 3-0 win over Haiti on Friday night, coming on as an 81st-minute substitute. The 26-year-old is expected to complete his €45m move from Atalanta following his participation at the tournament, pending a medical.
United are facing serious competition for key targets. Is this a problem?
Competition from Premier League rivals and clubs across Europe is to be expected in any transfer window, given the markets United are shopping in. It does not have to be an obstacle.
Even at low points after poor seasons, United have demonstrated that they still have considerable pulling power. The 15th-place Premier League finish in 2024-25 and failure to qualify for Europe did not dissuade Bryan Mbeumo and Benjamin Sesko from joining, despite interest from elsewhere.
The summer prior, United saw off competition from Real Madrid to complete the €62m signing of Leny Yoro.
Personal terms between United and Fernandes are not expected to be an issue. Yet even if Old Trafford is a player’s preference, competition for their signature can have the obvious consequence of driving up and fixing their price.
West Ham’s demands of £80m are expected to be the fundamental sticking point. United have shown a reluctance to meet that valuation, but if a rival is prepared to move closer to West Ham’s price, the Old Trafford hierarchy could be left with a decision to make.
United are yet to submit a formal bid for Fernandes, although one is expected.
What positions/players are they looking at?
Other than Fernandes, United have made enquiries around a deal for Alex Scott. Bournemouth are attempting to renew the 22-year-old’s contract, which has two years left to run. Any new deal could include a release clause of around £75m.
Elliot Anderson would be United’s ideal target, but Nottingham Forest’s demands are considered too great. United hold longstanding interest in Carlos Baleba and Adam Wharton, who are among a range of other midfielders being tracked.
Crysencio Summerville is one of several options considered if United decide to strengthen at left wing. Alternatively, United could strengthen at left-back, with Newcastle’s Lewis Hall admired.
United are also exploring the back-up goalkeeper market to provide cover for Senne Lammens. Karl Darlow, who is set to be available as a free agent, and Sam Johnstone have both been considered.
Which players could be leaving?
Marcus Rashford remains available for sale after Barcelona’s €30m option to sign him permanently expired last week. United are not willing to negotiate a second loan spell with Barcelona and intend to only listen to permanent offers.
Andre Onana, Altay Bayindir and Radek Vitek could all leave on a permanent basis this summer as part of the goalkeeper shake-up.
United are willing to listen to offers for Manuel Ugarte. Any Joshua Zirkzee exit could push United to bring in a backup centre-forward to provide cover for Benjamin Sesko.
Mark Critchley and Laurie Whitwell
Newcastle United
What has happened this week?
It has been a chastening seven days, which have led some supporters to draw comparisons with the chaotic and damaging way last summer was handled.
Such fatalism would be premature, given the window only officially opened last week, but losing out to Liverpool for another key signing and then seeing a direct rival enter the bidding for Sandro Tonali do not make for great optics.
Newcastle are categorical in their insistence that they had agreed an offer of €33.5million (£29.1m, $38.3m) early last week, plus a possible €5m more in add-ons, with Osasuna for Victor Munoz (as well as with the player and the agent). Yet, by Wednesday night, Munoz was Anfield-bound after Liverpool activated his €40m release clause and, in the immediate aftermath at least, Newcastle appeared bruised and unclear as to what exactly had happened.
Munoz had been viewed as Eddie Howe’s top attainable attacker target — in the context of Newcastle having no European football next season — and was deemed an ideal replacement for Anthony Gordon, who was sold to Barcelona last month. Although Newcastle insist there are alternatives, missing out on Munoz was a blow, given how advanced they felt a transfer was.
On Saturday, The Athletic reported Tottenham Hotspur had made an opening offer for Tonali. Their initial bid was rejected by Newcastle.
Spurs’ interest is not thought to have cooled, however, while Manchester City are also seriously considering a move for Tonali — alongside their pursuit of Nottingham Forest’s Elliot Anderson, Newcastle’s former academy graduate.
Elsewhere, Tino Livramento was forced to withdraw from England’s World Cup squad due to a calf problem. Newcastle hope he will be fit for pre-season training next month, while this latest injury casts further doubt over a summer exit for a full-back who has several long-term suitors.
Do Newcastle need to start getting deals over the line?
For a multitude of reasons, it would give everyone associated with the club a significant boost if they could bring in fresh faces quickly.
Only Ewen Jaouen has arrived and, as promising as the 20-year-old Frenchman is, he is expected to start 2026-27 as second-choice goalkeeper.
Gordon has departed and, while the €80m Newcastle received represented a decent sum, they narrowly missed out on their favoured replacement, Munoz. Should Tonali leave before additions are made — it is not guaranteed the Italian departs this window, though it is appearing likely he will — then Newcastle will have lost three of their best players, including Alexander Isak, since last August. Howe still needs four to six additions.
Newcastle missed out on Munoz (Alex Caparros/Getty Images)
One of the reasons given internally for why so few signings from last summer made an immediate impact was how late into the window they joined. Newcastle cannot allow history to repeat itself, especially given Howe insists it takes new arrivals weeks, if not months, to acclimatise to his methods.
Newcastle’s non-internationals are due to report back for pre-season around Monday, July 13, and Howe would really benefit from having at least one or two more fresh faces.
What positions/players are they looking at?
Where next after the failure to land Munoz is unclear. Newcastle have long maintained they are working on multiple deals and stress there are alternative offensive targets, some more expensive than Munoz, but also some who, sources claim, could prove cheaper. That seems an optimistic prediction.
Hoffenheim’s 20-year-old Bazoumana Toure, and Said El Mala, 19, of Koln, have been tracked, while Lille’s Matias Fernandez-Pardo is admired, but whether Newcastle turn their attention to any of those remains to be seen.
Goalkeeper-wise, Manchester City’s James Trafford, who Newcastle have twice tried to sign before, 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.
Newcastle will look to replace any midfielders who may leave, with Monaco’s Lamine Camara admired after being tracked long term, while Auxerre’s Kevin Danois is among others watched.
Whether another forward beyond Gordon’s replacement is sought remains to be seen and may depend upon potential exits, though Newcastle have been considering alternative young attackers.
Which players could be leaving?
Tonali looks increasingly likely to leave, though Newcastle are determined to receive what they deem to be his market value.
Newcastle are seeking around £100m to consider selling Tonali, whose contract runs until 2029 and has a 12-month extension option which the club can activate. Alongside Spurs, Manchester City are also monitoring the 26-year-old, while The Athletic reported in February that Arsenal had been offered Tonali by his agent late in the January window.
Newcastle will listen to offers for Joe Willock, the 26-year-old midfielder who is entering the final 12 months of his contract, and have been sourcing a replacement.
If Trafford or another No 1 goalkeeper arrives, then Nick Pope is likely to leave. In those circumstances, Newcastle would not stand in the England international’s way, given he would essentially be relegated to third-choice goalkeeper status. Premier League interest is anticipated in the 34-year-old.
Odysseas Vlachodimos, the 32-year-old goalkeeper who spent 2025-26 on loan at Sevilla, is available.
Chris Waugh
Tottenham Hotspur
What has happened this week?
After swift negotiations with Brighton and Hove Albion, Spurs completed a £52million ($69m) deal to sign centre-back Jan Paul van Hecke. Van Hecke has impressed at the World Cup, playing 90 minutes on Saturday as the Netherlands hammered Sweden 5-1.
Spurs have now turned their attentions higher up the pitch, opening talks with Newcastle United for midfielder Sandro Tonali. Newcastle will seek around £100m ($132m) to part with the 26-year-old, who has three years left to run on his current deal with an option for a 12-month extension, and is also a target for Manchester City. Tottenham are also pursuing a move for West Ham midfielder Mateus Fernandes, 21, with the east London club asking for £80m ($106.7m).
On Sunday, The Athletic reported Lucas Bergvall has informed Spurs of his preference to move on this summer. The talented 20-year-old, who won Tottenham’s player-of-the-season award in 2024-25, made 11 league starts last term, in part due to an ankle injury which sidelined him for almost two months, with just one under De Zerbi. His preferred No 8 position is not best-suited to the 4-2-3-1 system the Italian implemented at Spurs, and their pursuit of Tonali and Fernandes provides some insight into the club’s long-term thinking in midfield.
Brighton have ramped up their interest in Luka Vuskovic, 19, who started for Croatia in their 4-2 defeat to England last Wednesday. The latest offer fell short of Tottenham’s valuation, but Brighton, as well as several clubs across Europe, maintain interest in the towering centre-back.
Lucas Bergvall wants to leave Spurs (Julian Finney/Getty Images)
Do Spurs need to sell?
Strategic player trading was always going to be necessary if Tottenham were to attack this window in a manner befitting a “big six” club, particularly without the financial boost of the Champions League.
In a meeting with the fan advisory board in March, Spurs chief executive officer Vinai Venkatesham noted the need to monitor and plan to comply with Profitability and Sustainability regulations (PSR) due to heavy transfer spending and limited sales. Spurs strengthened their PSR position with the £35m ($46m) sale of Brennan Johnson in January, a move that was not universally popular, particularly as they did not sign a replacement, but which has further enhanced their ability in the summer market.
Ultimately, however, Spurs have plenty of PSR headroom and are well-positioned to invest significantly. Last month, the Lewis family, Spurs’ majority shareholders, released a statement clarifying their intention to invest in the team and the club as a whole.
What positions are they looking at?
Spurs have had a long-standing interest in Manchester City winger Savinho, as they plan to sign a starting-level left winger to improve De Zerbi’s attacking options.
They have also been in contact with Eintracht Frankfurt’s Jean-Matteo Bahoya, but have yet to make a formal approach for the 21-year-old winger who scored three league goals in his first full season for the German side.
As evidenced by their pursuits of Tonali and Fernandes, Spurs are also in the market for starting-quality central midfielders.
Which players could be leaving?
As mentioned, Bergvall and Vuskovic are attracting plenty of attention.
The Athletic reported that Bergvall is a target for Nottingham Forest as a potential replacement for Elliot Anderson, who looks set to move this summer for a potential British record fee. Aston Villa and Chelsea are also long-term admirers of the Sweden international.
Additions in central defence may leave Radu Dragusin, who was linked with a move away in January, surplus to requirements, while club captain Cristian Romero could also depart. Goalkeeper Guglielmo Vicario, who lost his starting spot to Antonin Kinsky while out with a hernia, and Richarlison are also candidates to leave.
Elias Burke
Barcelona
What has happened this week?
Barca have made a move for Jorge Salinas, a 19-year-old Spanish defender who plays as a left-back for Racing Santander. He has also played as a left-sided centre-back and was a key part of Racing’s promotion to La Liga as second division champions. He has a release clause of €8million, and Barca may consider sending him out on loan.
Barca have also made progress on Andreas Christensen’s contract renewal. The defender is set to sign a two-year extension at the request of Hansi Flick. It will mean a pay cut for the 30-year-old Danish centre-back. Club sources say they wanted to show support to Christensen, whose contract was expiring, after he missed half of the season following a knee ligament injury in December.
Will Barcelona’s plans slow down as the World Cup unfolds?
Barca completed the €80million signing of England winger Anthony Gordon, 25, from Newcastle before the World Cup started, while they also stepped up their interest in 26-year-old Argentina forward Julian Alvarez. Club sources said they sent a €100m offer to Atletico Madrid, who replied with a series of fake transfer rumour posts on social media.
The tournament has put the brakes on transfer activity, but Alvarez remains Barca’s major target.
Given Atletico’s response, Barca sources realise it won’t be an easy signing to finalise and that it will be a long-term process. It is therefore expected that there will be no further developments until Argentina’s involvement at the World Cup is over.
Speaking to ESPN, Alvarez said: “This isn’t the right time to talk about this, but I can’t hide away either — I try to be an honest person. I’ve spoken to the people at Atletico Madrid and I think a transfer is the best thing for everyone. I want to fulfil my dream.”
This has been warmly received by Barcelona’s hierarchy, who have seen the comments as a public confirmation that Alvarez wants to play for Barca.
Julian Alvarez remains a major target (Thomas COEX / AFP via Getty Images)
What positions/players are they looking at?
With Robert Lewandowski leaving on the expiry of his contract, strengthening at centre-forward is the priority — and Alvarez is the player they want.
Although some within the club believe it is only a matter of time before Lamine Yamal starts playing more regularly in a central role, they still view Alvarez as the top priority, and Barca will make a new offer to Atletico.
Barcelona also want to sign Joao Cancelo, 32, following a successful loan spell from Al Hilal over the second half of last season. The versatile Portugal international’s rapid adaptation and impressive performances surprised Flick.
We should also mention two players who have just signed for Real Madrid. Although Barca liked the option of Marc Cucurella, 27, they did not prioritise his signing as they thought they already had cover at left-back.
As for Bernardo Silva, 31, Barca’s board found the option of signing him on a free transfer appealing, but Flick was not in favour of pursuing it. The Portugal midfielder would have deprived Barca’s younger stars of playing time — individuals who need to gain more experience and whom the German coach rates highly, such as Marc Bernal, Fermin Lopez and Gavi.
Which players could be leaving?
Diego Kochen is set to join Lyngby Boldklub on a season-long loan with an option to buy. He will travel to Denmark this Tuesday to undergo a medical, and the plan is for him to start pre-season training with his new club, who were promoted to the top flight last term, this Wednesday.
The 20-year-old American is yet to make his first-team debut, but Barca see him as a potential future second-choice goalkeeper. They wanted to ensure he joined a club that would give him playing time for his development.
Ansu Fati’s move to Monaco is being finalised. The French club are expected to activate an €11million option in the terms of his loan from Barcelona. The Catalans want to include a 30 per cent share of any future transfer fee. Fati, 23, had some hope of returning to play for Barcelona, but Gordon’s signing made it clear that they were not going to count on him.
The future of Marc-Andre ter Stegen remains unresolved. He suffered a hamstring injury on loan at Girona and had to undergo surgery in February. Joan Garcia is Barca’s clear No 1 and Wojciech Szczesny his backup, but the German 34-year-old has a contract until 2028 and there has been no indication of him wanting to leave permanently.
Another case is that of Marc Casado. The 22-year-old midfielder did not get much playing time over 2025-26 and has already been warned that he will not feature prominently next season, either. Casado would like to stay but, given his situation, he will look for a new club.
Real Madrid
What has happened this week?
Following a flurry of transfer activity, things have cooled at Real Madrid over the past seven days.
Madrid have positioned themselves to sign Denzel Dumfries (for his €20million release clause at Inter) and brought in Marc Cucurella in a €60m deal with Chelsea, while Ibrahima Konate and Bernardo Silva will arrive on free transfers.
Sources have indicated that Madrid’s priority is to now move some players on, before any further additions.
The Spanish club will receive €20million from Liverpool’s €40m signing of Victor Munoz from Osasuna, as they inserted a 50 per cent sell-on clause when they sold him last July. Madrid also had the option to re-sign the 22-year-old Spain international for €8m this summer, but opted against it.
On Saturday, Madrid made a surprising statement regarding Bayern Munich winger Michael Olise, saying that they had “not had any direct or indirect contact” with the “player, his representatives, or anyone in his entourage”.
Olise’s name had already been mentioned as a player that was highly regarded internally, and there had been media speculation over Madrid making a bid of €150million.
Michael Olise is starring for France at the World Cup (Dan Mullan/Getty Images)
How much do Cucurella and Konate improve Madrid’s defence?
Quite significantly.
With centre-back David Alaba and right-back Dani Carvajal about to leave on the expiry of their contracts at the end of this month, experienced signings were required.
Madrid are also expected to be without centre-back Eder Militao until September at the earliest, following the thigh injury he suffered in April. Further to that, left-back Ferland Mendy is out with a thigh problem and underwent surgery in May. Both players had already missed large chunks of recent seasons through injury.
Senior club sources regard Dumfries as a completed signing alongside Cucurella and Konate, whose signings have been announced. They believe these additions are helping shape one of the strongest squads the club has had in the past 20 years.
Despite Cucurella’s arrival, sources close to Alvaro Carreras say the plan is for him to stay. Madrid spent €50million to sign him from Benfica last summer, and he will now compete with Cucurella for the left-back position.
What positions/players are they looking at?
New manager Jose Mourinho has taken on a more prominent role in Madrid’s squad planning and continues to be involved in discussions over potential reinforcements. Sources close to the 63-year-old say profiles are still being considered across centre-back, midfield and the centre-forward positions.
At centre-back, one of the names previously under consideration was Borussia Dortmund and Germany defender Nico Schlotterbeck. However, after an ankle injury ruled him out of the rest of the World Cup, it is unclear whether he will move this window.
Manchester City’s Ruben Dias is also on the list of centre-backs of interest, although any move for the 29-year-old is understood to depend on a departure from Real Madrid’s current options at centre-back.
In midfield, a decision will need to be made on Nico Paz. Madrid have a €9million buy-back option for the Como and Argentina midfielder. The 21-year-old had previously indicated a preference to remain at the Serie A side.
In attack, Mourinho would consider adding another centre-forward. However, for now, he is keen to keep hold of Endrick and Gonzalo Garcia. Sources close to Garcia, 22, had been exploring a potential departure after the end of the season, with 19-year-old Brazil international Endrick having completed his half-season loan at Lyon.
It remains to be seen whether that stance changes once Mourinho assesses his squad during pre-season. Franco Mastantuono is among the players he has spoken to about returning to training on July 13.
Which players could be leaving?
Madrid are working on the assumption that they have a surplus of at least three players and are actively exploring exits for them.
One of these is 29-year-old midfielder Dani Ceballos, who is in talks with the club over terminating his contract, which runs until June 2027. Although he has consistently been linked with a return to his former club Real Betis, there is no indication that any talks are at an advanced stage.
Centre-back Raul Asencio is also among those who could leave, with Portuguese agent Jorge Mendes appointed to explore potential destinations for the 23-year-old.
With four players now competing for the left-back spot, options are being considered for Fran Garcia’s future. Betis have been long-term admirers.
There will also be attention on 18-year-old midfielder Thiago Pitarch. Some senior club sources hold him in high regard, but say his situation is not yet fully clear. He is currently under contract until 2030 and registered with Castilla, Madrid’s reserve team.
Another midfield academy prospect, 22-year-old Manuel Angel, is set to leave, although there is no clarity yet over his destination.
