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

Welcome to the latest edition of the Transfer DealSheet, your weekly guide to what is happening in the summer window.

Every week, our team of dedicated writers, including Adam Leventhal and David Ornstein, will take you inside the market to explain the deals being worked on, the players who could arrive and the ones who are on their way out across the Premier League and beyond. You can read last week’s edition here.

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, where they were given, have been included in the Transfer DealSheet.

In this edition, we look at the situation around Manchester United’s pursuit of a central defender, assess the ongoing interest in Euro 2024 winner Nico Williams across Europe, and discuss the striking options that Chelsea could pursue over the rest of the window.

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. David Ornstein, our leading transfer reporter, will also deliver his one to watch here each week.

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

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David Ornstein’s One To Watch: Leny Yoro

Following the arrival of Joshua Zirkzee to strengthen in attack, Manchester United are continuing their work on another key area of focus for this transfer market: central defence.

The plan has always been to sign one or two players, so Rafael Varane and Willy Kambwala exiting creates space for that and the futures of Harry Maguire and Victor Lindelof are unclear.

United have twice seen offers for Jarrad Branthwaite rejected and, while the interest remains, they are unlikely to meet Everton’s valuation. The expected departure of Amadou Onana makes it even more improbable that Branthwaite will leave Goodison Park for now.

In parallel, United have been pursuing moves for Matthijs De Ligt and Leny Yoro. Progress has been achieved on each front recently, though the current expectation is they would recruit one or the other as opposed to both.

De Ligt is another option for Manchester United beyond Yoro (Alexander Hassenstein/Getty Images)

Given a deal for De Ligt looks relatively straightforward if United choose to proceed, at present they seem to be prioritising Yoro and exploring whether the Frenchman can be convinced to join them rather than hold out for Real Madrid.

Yoro’s first choice is Madrid but they are yet to show any indication of paying the level of fee that Lille have accepted from United, which has led the Ligue 1 club to favour doing business with their Premier League counterparts.

If Yoro is to make a switch this summer — his Lille terms end in 2025 so they do not want to lose him for free — and Madrid cannot strike a deal, will he instead accept a switch to United?

That is the burning question and strong efforts continue at Old Trafford to swing the outcome in their direction. Suitors including Liverpool backed off after being told of Yoro’s chosen destination — but United have persisted and, so long as the door is ajar, they will keep trying.

Everything, therefore, rests on the 18-year-old talent and his final decision. That means this situation is definitely worth keeping a close eye on in the coming days and potentially weeks.

Analysis: Why is Yoro so heavily coveted?

Lille fans will tell you Yoro is one of the brightest defensive talents to emerge from the club’s youth setup since future France internationals Benjamin Pavard and Lucas Digne. The 18-year-old is only 60 matches into his top-flight career but has shown a level of maturity and game intelligence that belies his age.

Yoro is a throwback defender in some respects, in the mould of Liverpool’s Virgil van Dijk. Last season, he often preferred to hang back and function as a sweeper for Lille’s defence, allowing partner Alexsandro Ribeiro to play higher up the pitch and take more risks. Ribeiro averaged more carries (64.1 vs Yoro’s 55.8) as well as a higher share of both tackles in the middle third (25 per cent of total tackles vs 23 per cent) and long passes (11 per cent of total passes vs 10 per cent) per 90 minutes in Ligue 1 last season.

GO DEEPER

Leny Yoro, 18, the defender lots of Europe's biggest clubs are pursuing

This is a key feature within Yoro’s game that stats do not entirely show; despite his young age, he is mature enough to know his strengths and limitations. The Frenchman was often conservative with his passing (63.8 attempts per 90, with 92 per cent accuracy), only occasionally floating a pass over the top or to the other flank. He seldom made his way forward when he had space to attack; less than one per cent of his 55.8 carries per 90 were progressive last season.

However, the potential upside his defensive acumen represents is hard to avoid. Yoro prefers to tailor his defensive movement as the opposition’s attack evolves. He stays deep and gives himself time rather than aggressively stepping up the pitch. While some may deem this reactive and potentially risky, instances such as the one below against Monaco show it is a strategy he has utilised well.

This is a big reason some of Europe’s biggest clubs want to sign him. Despite being a teenager, Yoro is far from raw, and his footballing IQ is more refined than most players his age, rather like Spain’s 17-year-old Euro 2024 star Lamine Yamal.

Yoro has areas that need work, having made a few major errors in Ligue 1 last season, such as the penalty he gave away against Metz in December. Additionally, moving to any of the clubs interested in him will open him up to a level of intense scrutiny he simply has not faced on the pitch so far.

However, there is belief that he can emerge from it all as a top-quality centre-back, and rightfully so.

Anantaajith Raghuraman

What we’re hearing

• Al Ittihad are interested in signing Moussa Diaby from Aston Villa. Interest from Saudi Arabian clubs in the France international is long-standing, with Al Ittihad prepared to offer Villa a substantial profit on the forward they signed last summer in a deal worth £34.6million, plus add-ons. Jacob Tanswell
• Arsenal have rejected a bid from Fulham for Emile Smith Rowe. The 23-year-old is considering his future having found regular Premier League football difficult to come by last season. Smith Rowe is hugely popular at Arsenal and the club are keen to respect his wishes regarding his future. Arsenal do agree to sell, it will be in part to help facilitate Smith Rowe’s desire for first-team football. James McNicholas and Peter Rutzler
• San Diego are now considering other targets aside from Sergio Ramos. Talks with the former Spain captain, 38, who left Sevilla last month have stalled after an initial approach was made. There was a disparity in the respective parties’ expectations over a move to the new MLS franchise. Adam Leventhal
• Everton are keen to strengthen on the wings. They hold an interest in Leeds United’s Wilfried Gnonto and Napoli’s Jesper Lindstrom. Patrick Boyland
• A deal between Leeds and Rennes for the permanent transfer of Glen Kamara is close to completion. Leeds are set to nearly double the fee they paid for the Finland international midfielder 12 months ago when he signed from Scotland’s Rangers. Nancy Froston
• Leeds are also interested in Sheffield United right-back Jayden Bogle. The departure of Archie Gray to Tottenham Hotspur earlier in the window leaves Leeds light at right-back and Bogle, 23, is a player who fits the profile they are considering this summer. Nancy Froston

Leeds are interested in Jayden Bogle (Stu Forster/Getty Images)

• Southampton winger Kamaldeen Sulemana is weighing up his future at St Mary’s. The 22-year-old is the club’s record signing after arriving from Rennes in January 2023 for £22million but has failed to settle on the south coast and made just 10 Championship starts last season. Sulemana is attracting interest from teams on the continent, with Roma, Ajax and Nice mooted as possibilities. Jacob Tanswell
• Southampton midfielder Charly Alcaraz has expressed his desire to stay with them this season after returning from a loan spell at Juventus. Alcaraz is highly thought of and returned to Southampton for pre-season last Tuesday. Jacob Tanswell
• Southampton are prepared to review options for striker Paul Onuachu, who has two years left on his contract. The Nigeria international scored 17 goals in 25 games on loan at Trabzonspor last season and other Turkish clubs are monitoring the situation. His prolific form for Genk in Belgium — 85 goals in 134 games in four seasons — led to an £18million move to Southampton in January 2023, but the 30-year-old isn’t currently in manager Russell Martin’s Premier League plans. Belgian, MLS and Saudi clubs are also considering a move. Adam Leventhal
• Former Arsenal full-back Cedric Soares is reviewing options for his next step. The 32-year-old’s contract at the Emirates Stadium expired last month and conversations with clubs from the Netherlands, France, Turkey and Saudi Arabia have all taken place. Cedric made five first-team appearances for Arsenal last season, having spent the second half of 2022-23 on loan with Fulham. Adam Leventhal

Arsenal

What has happened this week?

Albert Sambi Lokonga has completed a season-long loan move to Spain’s Sevilla. There is a €12million (£10.1m/$13.1m) purchase clause included in the deal, and if the La Liga side exercise the option then Arsenal will retain a 25 per cent sell-on clause for the midfielder’s next transfer.

Nuno Tavares has started training with his new club, Italy’s Lazio, ahead of the announcement of his loan deal, which also covers the coming season. It includes a mandatory €9million clause, with Arsenal holding a significant sell-on of greater than 25 per cent.

Arsenal have agreed a deal for Tommy Setford (Marcio Machado/Eurasia Sport Images/Getty Images)

Arsenal have also agreed a deal with Ajax of the Netherlands for England Under-20 goalkeeper Tommy Setford. The 18-year-old is expected to join them for a fee in the region of €1million. The club also saw an opening offer of £50,000 rejected by Wolves for another goalkeeper, Dan Bentley. Arsenal are short of experienced ’keepers for their forthcoming U.S. pre-season tour, so may return with another bid for Bentley this week.

Will shifting players on loan help with incoming?

It should do. Arsenal will effectively remove Lokonga and Tavares from the wage bill. Of course, it would be more beneficial to receive full transfer fees right now, but in the cases of these two players Arsenal are satisfied with the deals they have done.

What positions/players are they looking at?

Arsenal are still pushing to sign Italy international defender Riccardo Calafiori of Serie A’s Bologna. Broadly, the strategy is to sell those deemed surplus to requirements and replace them with players of a higher calibre, thus raising the level of the squad. In Calafiori’s case, they seem prepared to make an exception, pushing through a deal before finding a buyer for any of their existing defensive options.

Arsenal are also keen to add a central midfielder, such as Real Sociedad’s Mikel Merino, fresh off winning Euro 2024 with Spain, to their squad.

If Arsenal decide to buy a wide player, Nico Williams remains the preferred candidate. However, the deal is not straightforward. Williams’ €58million release fee at Athletic Bilbao is required to be paid upfront — and there is serious interest from other clubs, principally from fellow La Liga side Barcelona. In Williams’ case, Arsenal feel they would need to sell players from their front line to create space, and capital, for the Spain winger’s arrival.

Which players could be leaving?

Kieran Tierney and Aaron Ramsdale will be keen to secure moves which allow them to play regular first-team football again. Reiss Nelson and Eddie Nketiah are likely to go on the U.S. tour, but could well be sold before the end of the transfer window.

James McNicholas

Chelsea

What has happened this week?

Portugal Under-20 midfielder Renato Veiga has completed his £11.8million move from Switzerland’s FC Basel, making him summer signing number five (after Marc Guiu, Kiernan Dewsbury-Hall, Omari Kellyman and Tosin Adarabioyo). He will join Chelsea on their upcoming U.S. tour. His future career path will be decided after that.

Everything is in place for defender Aaron Anselmino, 19, to join from Boca Juniors for £17million plus add-ons. The plan is for him to return to Buenos Aires-based Boca for six months on an initial loan. This will be reviewed at the end of the Argentine league’s season in December.

Another 19-year-old defender, USMNT left-back Caleb Wiley, is on his way after an £8.5million fee was agreed with Atlanta United of MLS. He’ll be heading out on loan to French sister club Strasbourg.

Is there any update on Gallagher’s future?

Chelsea are preparing for potential suitors to show their hands. Tottenham Hotspur are interested and are likely to make a move, but Aston Villa’s admiration is highly unlikely to lead to an approach. Chelsea value Conor Gallagher in the region of £40million to £50m even though he has entered the final year of his contract.

Gallagher’s contract at Chelsea expires next summer (Adrian Dennis/AFP via Getty Images)

They have the option to offer a new deal on improved terms, keep him and solidify or even push that price tag up over the next 12 months and review again next summer. Missing a key period to make strong first impressions with new head coach Enzo Maresca is unfortunate, but leeway will be afforded with the player having been at the Euros until Sunday night.

What positions/players are they looking at?

There is still a debate over whether Chelsea will go for an established striker such as Newcastle’s Alexander Isak, Victor Osimhen, of Napoli, Manchester City’s Julian Alvarez or Ollie Watkins. of Aston Villa. Each of those would be a highly complex deal to do, and it is unclear whether Maresca is happy to work with the cast he has already — including Nicolas Jackson and Christopher Nkunku.

The striker market is being monitored while a definitive decision is made and Samu Omorodion, 20, of Atletico Madrid is one they are keeping an eye on. Chelsea would love to sign Spain star Nico Williams and have carried out long-term groundwork on him. Having watched him last season at Athletic Bilbao, the Spain left-winger is high on the club’s list of targets in one of their priority positions. They feel well placed but with an awareness that Barcelona have strong designs and staying in La Liga appears favourable to the player.

Which players could be leaving?

Kepa Arrizabalaga is in talks with Al Ittihad, who have had an initial offer turned down. Talks continue with the Saudi club, and others, as a permanent departure for the 29-year-old goalkeeper edges closer.

Romelu Lukaku — who has two years left on his Chelsea contract — is another big name the club want to sell. Last season, both these players used up international loan spots (Lukaku to Roma and Arrizabalaga to Real Madrid) which are now limited to just six. Players who are under 21 and club-trained are exempt from limitations, but sales of those surplus to requirements — such as defender Malang Sarr — are preferred rather than using up spaces.

Picking the right route for Angelo Gabriel and Andrey Santos (who both went on loan to Strasbourg last season), Deivid Washington and possibly new signing Marc Guiu is also part of the pre-season thinking.

Armando Broja remains a target for Everton, although that’s not advanced at this stage. The Goodison Park future of Dominic Calvert-Lewin is likely to play a part in that move. Others, such as Cesare Casadei, David Datro Fofana and Trevoh Chalobah are other potential departures. Lesley Ugochukwu is set for a loan and has been the subject of interest from clubs in the Premier League and France’s Ligue 1.

Adam Leventhal

Liverpool

What has happened this week?

Liverpool won the race to sign highly-rated England youth international Rio Ngumoha from Chelsea, though the 15-year-old attacker’s move to Merseyside is still subject to Premier League approval. Ngumoha is expected to initially link up with Liverpool Under-18s but he will not be able to train or play until the paperwork is processed.

Meanwhile, the wait for the club’s first senior signing of the Arne Slot era goes on.

Full-back Adam Lewis, 24, whose 19-year stay at Liverpool ended this summer, has signed for League Two club Morecambe.

Liverpool’s owner, Fenway Sports Group, confirmed it is in talks to buy French second-division club Bordeaux as it looks to embark on a multi-club model.

Is there any concern over Van Dijk considering his future?

Liverpool are relaxed about the situation. Virgil van Dijk spoke to the media following the Netherlands’ Euro 2024 semi-final exit at the hands of England. “I will think carefully this summer about what I want, at club level and as an international player,” he said.

After such an energy-sapping 2023-24 campaign ended in national-team heartache with England’s late winner, it was hardly a surprise he was not in the mood to talk about the future. The fella needs a holiday.

When the curtain came down on Jurgen Klopp’s reign in May, Van Dijk said he was excited about leading the new era under countryman Slot and that remains the case. Now the Euros are over, Liverpool need to get his contract extension sorted.

What positions/players are they looking at?

Liverpool are considering defensive options after the free-agent departure of long-serving Joel Matip. As well as a centre-back, a holding midfielder and an attacking wide player have also been discussed. However, considering they have a youthful squad that’s packed with potential, this was never going to be a busy summer in terms of incomings.

Much depends on who steps up during pre-season and what gaps still need to be filled as Slot assesses the squad he inherited.

Which players could be leaving?

Nat Phillips, who has entered the final year of his contract, was the subject of a £4million bid from Turkish club Trabzonspor, but Liverpool are holding out for £8m to £10m. The 27-year-old defender is also attracting interest from several Championship clubs.

Liverpool have also turned down offers from German sides Mainz and Wolfsburg for Sepp van den Berg, who is valued at around £20million. The Dutch defender is expected to be given opportunities to shine during the upcoming pre-season tour to the U.S. before a decision is taken on his future.

There has been interest in Van den Berg (Neil Baynes/Getty Images)

It remains to be seen if a club will test Liverpool’s resolve to keep £25million-rated reserve goalkeeper Caoimhin Kelleher, who is desperate to become a No 1 after a long stint as Alisson’s deputy.

Luis Diaz has also been linked with a summer move, but Liverpool have not had any offers for him and are not looking to sell the Colombian.

James Pearce

Manchester City

What has happened this week?

City are determined to keep hold of Ederson this summer but, failing that, they will insist on a big fee if he is determined to leave. Saudi Pro League side Al Nassr are pushing hardest to sign the Brazilian and have held talks with his representatives. But City will continue to offer a new contract and, if one cannot be agreed, they would reject any bids in the region if £25million, the type that has been reported over the past few days.

The goalkeeper’s future has been hard to pin down: in the spring he was expected to sign a new contract, but at the end of the season he was considered closer to a move to the Middle East, and recently City had been more confident of persuading him to stay. Al Nassr are not letting up, however, and City will want a final decision soon so that, if necessary, they can sell and move on quickly. Their preference is for Ederson to stay, however

Sergio Gomez joined Real Sociedad for £8.4million plus a 30 per cent sell-on fee. Liam Delap moved to Ipswich for £15million plus £5m in add-ons, plus a 20 per cent sell-on clause. City like to include those sell-on clauses in deals for youngsters and they could benefit from another one if Arijanet Muric moves from Burnley to Ipswich.

Reports in Europe continue to link City with a move for Dani Olmo but the club will not be triggering his buyout clause in the coming days.

Does the exit of Delap and others mean incoming business can now start?

There is no direct correlation between young players going out and new signings coming in, but transfer funds received will always be welcome and necessary in the ongoing quest to stay PSR compliant. City have money to spend this summer but they do not consider the squad to be in need of major surgery, especially with Kevin De Bruyne and Bernardo Silva expected to stay.

There is a cat-and-mouse game with Newcastle regarding Bruno Guimaraes; City want to sign him but not near the £100million fee that was in his previous buyout clause.

If Newcastle were to sell another big player, City’s hand would be weakened in their attempts to sign Guimaraes. That is standard City bartering procedure, rather than directly linked to PSR.

What positions/players are they looking at?

A deputy or partner for Rodri is deemed important, hence the interest in Guimaraes.

A right winger is also on the agenda, as well as a replacement for Gomez. The Spaniard barely featured in his two years at City and the club are exploring ways to bring in a new face with similar expectations regarding their opportunities.

Joshua Kimmich continues to be of interest.

Which players could be leaving?

Julian Alvarez is still attracting attention and generating headlines; as previously reported in the Transfer DealSheet, he would be open to a move for more regular football.

City have held talks over Bayer Leverkusen’s Jeremie Frimpong but that is considered an option only if Kyle Walker were to leave, with some interest from Saudi Arabia — although that is not considered to be a live option.

Sam Lee

Manchester United

What has happened this week?

Joshua Zirkzee became the first signing of the INEOS era on Sunday, completing a €42.5million move from Bologna and signing a five-year contract with the option of a further year.

GO DEEPER

Joshua Zirkzee to Manchester United: The Athletic 500 transfer ratings

Jonny Evans’ future was finally settled last week, with the 36-year-old signing a new one-year contract.

Willy Kambwala joined Villarreal in an initial €5.5million deal, potentially rising to €6m in add-ons, after turning down a new contract.

Donny van de Beek completed his move to Girona for an initial €500,000 fee, potentially rising to €9.1million.

Does Branthwaite’s unavailability mean United’s plans will change?

Amadou Onana’s prospective move to Aston Villa in a deal worth in the region of £50million is expected to harden Everton’s position on Jarrad Branthwaite. United saw a second, improved bid of £45m plus £5m in add-ons for Branthwaite rejected out of hand last week.

Everton have consistently valued the 22-year-old in the same bracket as the likes of Harry Maguire, Wesley Fofana and Josko Gvardiol, all of whom were sold in recent summers for fees over £75million, and now only a hugely significant fee may be enough to force a sale.

United made two bids for Branthwaite (Stu Forster/Getty Images)

United’s interest in Branthwaite remains but they are yet to return to the table with a third bid. Despite starting the summer with the hope of possibly signing Branthwaite and a starting right-sided defender, it may be that only one top-level centre-back signing is possible. United have seen a bid accepted by Lille for Yoro and remain in talks with Bayern Munich for De Ligt.

There is interest in acquiring a left-sided defender in a squad role, to provide cover for the likes of Lisandro Martinez and Luke Shaw, who missed much of last season through injury. Tyrell Malacia missed the entirety of the campaign after knee surgery, but returned to individual training over the weekend.

What positions/players are they looking at?

Other than at centre-back, United would ideally like to strengthen in the centre of midfield, although budget considerations may mean that any move is only on a temporary basis.

Paris Saint-Germain’s Manuel Ugarte remains of interest. A return to Sofyan Amrabat cannot be entirely ruled out at this stage, despite the Morocco international’s loan spell coming to an end.

And despite Zirkzee’s arrival, there remains scope for United to add to their frontline before the end of the window. Ivan Toney and Dominic Calvert-Lewin have both been the subject of talks internally and would offer a more traditional No 9 profile as like-for-like alternatives to Rasmus Hojlund.

Which players could be leaving?

Mason Greenwood’s potential departure remains United’s best chance of securing a substantial fee that could be reinvested in the squad.

Marseille agreed a €31.6million deal for Greenwood last week, with an initial €27.6m (£23.3m) and €4m (£3.4m) in add-ons, with a significant sell-on clause attached. However, any move is still subject to the 22-year-old’s approval.

Lazio also submitted a firm bid for Greenwood, while Juventus, Napoli and Valencia also expressed interest.

Jadon Sancho returned to Carrington last week and resumed training with the first-team squad after a meeting with Erik ten Hag, meaning he is available for selection again.

United had been willing to listen to offers for the 24-year-old, with an asking price of £40million set, although had not received the same level of interest as for Greenwood. It is unclear whether Sancho remains available for transfer, with United saying the focus is now on him taking a full part in pre-season.

As part of the rebuilding at centre-back, United are willing to consider offers for Victor Lindelof, who has attracted interest from Fenerbahce.

Scott McTominay has also been subject of interest, with reports suggesting that United have already turned down initial bids for the 27-year-old. McTominay’s contract is set to expire at the end of the season — although United have the option of triggering a one-year extension.

Despite that, the Scotland international is a highly valued member of Ten Hag’s squad and an attractive offer would be required for Unired to consider a sale.

Mark Critchley

Newcastle United

What has happened this week?

Although there has been no further significant movement transfer-wise, there have been major off-field changes at St James’ Park.

Amanda Staveley and Mehrdad Ghodoussi, who drove the takeover as minority 10 per cent shareholders and have been the public face of the regime, have left the club, with Saudi Arabia’s Public Investment Fund (PIF) increasing their majority stake to 85 per cent, and the Reuben family now holding the remaining 15 per cent.

A new executive footballing structure is in place, with Paul Mitchell arriving earlier this month as sporting director. James Bunce assumed the newly created position of performance director this week.

Both have been present at Newcastle’s training ground and are expected to travel to Germany, where Eddie Howe’s squad are holding a six-day training camp at Adidas’ global headquarters in Herzogenaurach.

Transfer discussions on positions and targets are expected to ramp up among Mitchell, Howe and the recruitment team now that pre-season is underway.

What is the priority now Newcastle are back for pre-season training?

Materially strengthening the first XI.

Newcastle had concluded four signings by July 1, but two of those were backup goalkeepers, another was confirmation of Lewis Hall’s loan becoming permanent, while Lloyd Kelly brings depth and versatility to the backline. But none are clear upgrades to the starting line-up.

Newcastle have added Lloyd Kelly (Harriet Massey/Newcastle United via Getty Images)

If increasing squad depth and resolving PSR issues was the focus during the first part of the window, bringing in quality additions is now the priority. With Newcastle now in Germany, Howe is keen for reinforcements to arrive quickly. Ideally, he would like a couple more signings to join before the club travels to Japan at the end of the month.

Right wing is the position which Newcastle believe most needs bolstering in the side, while a right centre-back to succeed Fabian Schar is also of keen interest. Newcastle’s target lists are ambitious — the failed approach for Michael Olise underlines this — but they have multiple options for each position and have already moved on to pursuing alternative right-sided forwards.

What positions/players are they looking at?

Alongside a centre-back and a right winger, Newcastle are also considering whether to sign another goalkeeper, while a forward will be sought if Callum Wilson leaves.

Howe has been keen to bolster Newcastle’s right-wing berth for several windows, with a significant portion of their budget expected to be spent on that position. Newcastle retain an interest in Nottingham Forest’s Anthony Elanga, while Noni Madueke of Chelsea and West Ham United’s Jarrod Bowen are among those to have been discussed.

Despite a long-term admiration for Nico Williams, the Spain winger who scored in the Euro 2024 final victory over England, Newcastle know they cannot offer the wage packet necessary to lure such a player. Although they could afford to meet Crystal Palace’s asking price for Olise, for example, they could not get close to matching the salary Bayern Munich proposed.

Dominic Calvert-Lewin had been a target but, after Newcastle failed to agree personal terms with the centre-forward, a deal with Everton collapsed. That transfer will not be revived unless Wilson moves on, though Newcastle have turned their attentions to other strikers. Lille’s Jonathan David has been watched long-term.

Newcastle want a right-sided centre-back and AC Milan’s Malick Thiaw, a 22-year-old Germany international, is among those they have tracked.

The arrivals of Odysseas Vlachodimos and John Ruddy mean the club currently have five senior goalkeepers. Newcastle have not yet followed up with their interest in Burnley’s James Trafford. Howe is set to appraise his goalkeepers during pre-season and, with last season’s No 2 Martin Dubravka expected to leave, the recruitment of another has not been entirely ruled out.

Which players could be leaving?

Newcastle will look to reduce the average age of their squad, with further senior players to depart, though there is no longer a pressing need to move people out for PSR reasons.

Miguel Almiron may leave if a right winger joins, with Saudi Pro League clubs showing tentative interest in the Paraguayan, while Wilson, Dubravka, Kieran Trippier and Emil Krafth are into the final year of their deals and exits have been explored. Nothing is agreed for any of those, however.

Newcastle hope to offload Jamal Lewis and Ryan Fraser, with the latter having agreed a deal with promoted Southampton, though the details must be finalised with his current club. Isaac Hayden is available. Lewis has resumed pre-season training with the first team, but Fraser and Hayden have not.

Bruno Guimaraes‘ £100million release clause expired last month and Newcastle are keen to keep hold of the Brazil midfielder, while they have no intention of selling Alexander Isak. There is confidence Anthony Gordon will stay, despite internal fears that his head was turned by an awareness of Liverpool’s interest.

Chris Waugh

Tottenham Hotspur

What has happened this week?

Troy Parrott’s performances for Dutch side Excelsior last season — with 17 goals in 32 appearances — suggested he could have become a valuable back-up striker for Ange Postecoglou. But the 22-year-old has joined AZ on a five-year contract in a deal worth €8million.

Dele Alli left Spurs in January 2022 to join Everton. Both sides agreed Everton would pay £10million when the attacking midfielder played 20 times and an extra sum would be due if he signed a new contract. However, he made only 13 appearances before his contract expired last month. Everton have not decided whether to offer a new contract but they are discussing a revised payment structure with Tottenham if that happens.

Tottenham have sold Troy Parrott this week (Clive Brunskill/Getty Images)

Will Lankshear has signed a new deal which runs until 2029. The 19-year-old striker was named the Premier League 2 Player of the Season for the 2023-24 campaign and helped Spurs win the title, scoring 32 goals in all competitions.

When are Spurs planning to push on in the market?

Archie Gray is the only signing Tottenham have made, barring Timo Werner’s return on loan and Lucas Bergvall’s arrival this summer. Now the Euros and Copa America have finished, there should be more movement.

Spurs are flying to Japan and South Korea for their pre-season tour next week. Ideally, any potential new signings would be involved in some stage of the tour so they are given a significant amount of time to adjust to Postecoglou’s style of play.

What positions/players are they looking at?

As previously reported, Tottenham are long-term admirers of Chelsea midfielder Conor Gallagher. Richarlison is attracting interest from the Saudi Pro League and if he leaves, Spurs would need to find a replacement.

Which players could be leaving?

There is a long list of players who could be sold. Pierre-Emile Hojbjerg and Emerson Royal are expected to leave.

There have been no offers for Hojbjerg. AC Milan bid €10million for Royal, which was deemed unacceptable. Sergio Reguilon and Djed Spence are likely to leave too. Reguilon impressed while on loan at Brentford last season but they cannot afford his wages.

Jay Harris

Barcelona

What has happened this week?

Joan Laporta told Catalan radio station Catalunya Radio, “Today Barca could cope financially with a signing like Nico Williams”. The Athletic has learnt, from several sources close to the Barcelona squad, that these comments have not gone down well with players.

Some are disappointed that while the club is asking for patience from players, some of them have not been registered to play in La Liga due to various contract situations. At the same time, the club is discussing more signings publicly.

During the week, Pau Cubarsi and Lamine Yamal were registered with La Liga as first-team players while it was confirmed Ronald Araujo will undergo surgery, which could keep him out of the squad for up to four months.

Are Barcelona considering bringing Thiago back?

Yes, the club is looking for a link between Hansi Flick and the team. Although Flick is learning Spanish and is fluent in English, he was looking for a figurehead who could help him with the dressing room and Thiago Alcantara is the right person. He played in the Bundesliga, is familiar with German and knows Flick. He also knows Barca’s playing philosophy and could help act as a liaison between the coaching staff and the squad.

Thiago has been given the chance to help Flick (Paul Ellis/AFP via Getty Images)

The two were spotted having a coffee in Barcelona and Flick offered him a place on his coaching staff. Thiago is thinking about it, although he was initially a little reluctant.

Thiago, who retired earlier this month, has already been at the training ground with the squad but has not been introduced as part of the coaching staff, so it could be a temporary arrangement.

What positions/players are they looking at?

They are still looking for a defensive midfielder to cover the loss of Sergio Busquets. This was not solved with the arrival of Oriol Romeu, who is expected to leave this summer.

There is also growing interest in Nico Williams. The Athletic Bilbao player formed a great pairing with Lamine Yamal during Spain’s Euro 2024 success and Yamal has called for Williams to sign. He is seen by Barcelona as an option to rival Real Madrid’s signing of Kylian Mbappe.

Williams could yet spend another season in Bilbao, but with the Euros over, there could be movement. However, Barcelona’s financial situation makes it unlikely a move to Camp Nou could happen this summer.

Which players could be leaving?

Araujo’s injury could change the club’s plans. If they were planning to cash in on him, it would now be more complicated, and if they were looking to sell another centre-back, they might now be less likely to do so.

This is where Inigo Martinez — who is still under contract for another season but is not registered with La Liga — and Eric Garcia — returning from a loan spell — could get their chance during pre-season.

Romeu and Mika Faye are still expected to leave and there are doubts over Ansu Fati, whose pre-season will be important if a big offer does not come in for him.

Laia Cervello Herrero

Analysis: Does Williams suit all of the interested clubs?

If the past 12 months are any evidence, Williams would be a blockbuster signing for any of these clubs. Apart from his electric displays at the Euros, the 22-year-old also recorded five goals and 14 assists in 31 La Liga matches for Athletic last season.

Barcelona’s long-standing interest is even more understandable now given the excitement that emanated from Williams’ on-field partnership with Yamal for Spain. Playing Williams and Yamal on either flank has stretched defences to their limits, while both players have often cut inside, causing overloads, to wreak havoc as well. Both of these were key aspects of Hansi Flick’s philosophy at Bayern.

On the squad side, Barca’s current left-wing options are Ferran Torres and Ansu Fati, who have both faced questions over their future in recent times.

Arsenal, on the contrary, already have an exciting left-wing prospect in Gabriel Martinelli, with Leandro Trossard as an alternative. Mikel Arteta’s side could also benefit from a player with Williams’ profile given the terror he poses as a ball carrier in addition to also being a decent passer and crosser in the final third. Martinelli is yet to display the ability to excel in the latter aspect.

Williams impressed at Euro 2024 (Dan Mullan/Getty Images)

Chelsea are in a similar position with an exciting and pacy 23-year-old in Mykhaylo Mudryk and an experienced 29-year-old in Raheem Sterling as their options on the left. At Leicester City, Enzo Maresca displayed an affinity for his wider players to cut inside to open up attacking avenues out wide and centrally, with Williams’ pace and decision-making skills making it an enticing option for the Blues to consider.

Williams’ other key characteristic is his ability to play on either flank, which was evident during the Euro 2024 final when he occasionally drifted to the right. However, Barcelona have Yamal and Raphinha to use in that position, while Chelsea have Cole Palmer and Noni Madueke.

Arsenal notably only have Bukayo Saka as an out-and-out right winger. However, Saka’s durability and Premier League pedigree would make it tough to drop him for Williams.

Ultimately, all three clubs present interesting and sensible tactical fits, with Barcelona marginally coming out on top.

Anantaajith Raghuraman

Real Madrid

What has happened this week?

Head of scouting Juni Calafat was in Dortmund to watch the Euro 2024 semi-final between the Netherlands and England and to accompany Jude Bellingham’s family.

Madrid have also been trying to sign a central defender after the departure of captain Nacho Fernandez to Al Qadsiah and Rafa Marin to Napoli.

What would Madrid do in the market if Bellingham has to have surgery?

Bellingham has a recurrent shoulder injury. Since December 2023, he has had to wear special protection imported from the NFL.

According to Real’s medical reports before the Euros, the 21-year-old midfielder’s condition has not worsened and an operation is not urgent. However, Real know the player will eventually have to undergo surgery. The estimated time out would be between two and three months, according to sources close to the medical team consulted by The Athletic.

If he were to undergo surgery, the club are not considering a signing to replace him.

What positions/players are they looking at?

Real have been tracking midfielder Franco Mastantuono for months. The 16-year-old left-footed attacking midfielder from River Plate has a clause of €45million that increases to €50m in the final days of the transfer window, according to sources at the Argentine club.

Madrid know the conditions of the signing and sources from Mastantuono’s camp are confident Madrid will be able to make it the most expensive sale in the history of Argentinian football.

Real Madrid have been tracking Franco Mastantuono for months (Marcelo Endelli/Getty Images)

Lille centre-back Leny Yoro is Real’s prioritised defensive target. However, Manchester United are also in the race and have presented an offer for him, which Lille have accepted.

Further developments are expected with Canada’s Alphonso Davies now the Copa America has ended. Real have been pursuing a deal with both the player and Bayern Munich.

Which players could be leaving?

If Yoro signs, Jesus Vallejo, the fourth centre-back, could be impacted. However, the Spanish defender has made it clear to the club he intends to stay until his contract ends in 2025. Real do not consider him indispensable but they will not force him out either.

There is more concern about Andriy Lunin. The Ukrainian goalkeeper was on the verge of renewing his contract with Real a few months ago, but the return from injury of Thibaut Courtois has changed the situation. Lunin wants to play a leading role, but if he does leave, the most likely replacement is Kepa Arrizabalaga, who was on loan at Madrid last season. It remains to be seen if Chelsea will let him leave on terms favourable to Madrid.

Clubs interested in the Spanish goalkeeper include Saudi Pro League side Al Ittihad, who were in talks with the London club.

There are also developing situations around Madrid’s academy players. Mario Martin wants to stay at Madrid but is attracting interest from half the teams in La Liga. There is also serious interest in Nico Paz, although sources close to Leganes, who were linked to him, deny being keen.

Uruguayan striker Alvaro Rodriguez has options to leave. He was in talks with Getafe but their head coach Jose Bordalas is not entirely convinced. Rafa Obrador seems destined to leave — with Las Palmas and other teams from La Liga interested in him.

Guillermo Rai

(Top image — design: Eamonn Dalton, photos: Getty Images)