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

Welcome to the first edition of The Athletic’s Transfer DealSheet for the summer 2025 transfer window.

Our team of dedicated writers, including David Ornstein, will take you inside the market to explain the deals being worked on in this window, which has begun early due to the upcoming Club World Cup. A special mini-window opened on June 1 and will run until June 10, with the normal transfer window then running from June 16 until September 1.

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.

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 year, The Athletic’s football finance writer Chris Weatherspoon will be adding to our analysis of the transfer market, along with tactical analysis from Anantaajith Raghuraman.

For those wanting to read in more detail about clubs not featured below, we also have individual articles about Aston Villa, Brighton & Hove Albion, Crystal Palace, Everton, Leicester City, Nottingham Forest, West Ham United, Wolverhampton Wanderers and Wrexham.

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

---

David Ornstein’s One To Watch

The Athletic revealed last week that Liverpool had made a second offer for Bayer Leverkusen’s Florian Wirtz.

An agreement has yet to be reached but talks continue over the Germany international with optimism that a deal can be struck. There is a feeling around the matter that this could be a pivotal week in ascertaining the outcome of what has become a one-horse race for the 22-year-old attacking midfielder, given his preference to join Liverpool and the Anfield club’s willingness to push.

Wirtz is the most high-profile situation in the market right now; Liverpool’s proposal was worth up to a club-record €130million (£109m; $148.5m) — comprised of a guaranteed fee plus potential add-ons — and may yet increase. A long-term target for Liverpool, Wirtz is their first choice and the only player they have made a bid for in his position.

But it can be disclosed that head coach Arne Slot left his holiday last week and flew to the south of France to meet Lyon attacking midfielder Rayan Cherki.

(Ronny Hartman/AFP via Getty Images)

Liverpool are committed to Wirtz, though that doesn’t stop them performing due diligence on other options and preparing for all outcomes. The Cherki discussions were scheduled before the Wirtz chase accelerated and it is normal to proceed with such conversations while your priority signing is not complete and multiple plates are spinning.

Wirtz was also targeted by Manchester City and Bayern Munich. City’s pursuit did not develop further and they are now focusing on Cherki. While reports have suggested there is a release clause worth €22.5million in his contract, this is not the case and Lyon want to negotiate for a significantly bigger fee — despite Cherki’s terms expiring next summer.

Agreements still need to be found between the clubs and with the player, however the situation is progressing and City are hopeful of landing the 21-year-old Frenchman.

---

Would Cherki suit City?

City need to replenish their midfield following Kevin De Bruyne’s departure and Mateo Kovacic’s latest injury. That they seem to have missed out on Wirtz also makes their approach for Cherki understandable.

Cherki is a technically gifted player who is comfortable shooting, passing and dribbling with both feet and can play out wide or in midfield. The France Under-21 international excels at using his dribbling to fuel his creativity, evading pressure and unbalancing defenders with ease.

City have relied more on ball-carrying to create chances in recent seasons through the signings of Kovacic, Jeremy Doku, Savinho and Omar Marmoush. Cherki fits well into that scheme and adds an extra layer with his passing. He can both dictate tempo with controlled passes and create chances with more daring attempts.

Defensively, Cherki is not the most intense presser. He does recognise triggers, though, and Pep Guardiola will be expected to get the best out of him in this regard, too.

Anantaajith Raghuraman

---

What Else We’re Hearing

• Bryan Mbeumo has decided he wants to join Manchester United, and they are set to open talks with Brentford as they pursue an agreement to sign the forward this summer. Mbeumo, 25, has a year left on his contract at the Gtech Community Stadium, though it includes an option for Brentford to extend by 12 months. Last season was the Cameroon international’s most productive since joining from French side Troyes in 2019, contributing 20 goals and eight assists. That has attracted interest from the likes of Arsenal, Newcastle United and Tottenham Hotspur — but Mbeumo favours a switch to Old Trafford, if a deal can be struck with Brentford. David Ornstein
• Manchester City are pursuing a deal to sign Rayan Ait-Nouri from Wolves. Agreements still need to reached between the clubs and with the 23-year-old — however all parties now expect a move to happen. Ait-Nouri has emerged as City’s top target to strengthen at left-back after four impressive seasons since joining Wolves on a permanent basis, which followed a loan from French side Angers. David Ornstein

• Atletico Madrid are interested in signing United States international midfielder Johnny Cardoso from fellow Spaniards Real Betis. The Athletic has previously reported that Tottenham have a first refusal option for the 23-year-old — which becomes active this summer — as part of the sale of Giovani Lo Celso to Betis. Cardoso joined from Brazilian side Internacional in January 2024 and was a key player in Betis’ run to the Europa Conference League final last season, which they lost to Chelsea. Guillermo Rai
• Borussia Dortmund are keen to extend Carney Chukwuemeka’s loan to cover the duration of the Club World Cup. Dortmund’s current agreement with Chelsea would see the midfielder return to England on June 30, midway through the competition in the United States, but negotiations are taking place on a new agreement which would see Chukwuemeka remain with Dortmund. Both clubs are optimistic that an agreement can be reached. Long term, however, Dortmund’s interest in either making the loan permanent or extending it by a further year has cooled, with almost no likelihood that he will be at the Westfalenstadion next year. Sebastian Stafford-Bloor
• Everton striker Dominic Calvert-Lewin‘s future is in major doubt, with his contract among those expiring at the end of June. Calvert-Lewin scored three goals in 26 appearances last season. Patrick Boyland

---

Arsenal

What positions will they be looking at in the summer window?

It’s no secret that Arsenal intend to add a new No 9 this summer. Arsenal considered signing a centre-forward last summer and then in the winter transfer window, but ultimately chose to hold fire.

With Jorginho set to leave the club, they also have a vacancy in holding midfield — this will be addressed by the arrival of Martin Zubimendi from Real Sociedad. The deal is effectively agreed, pending a medical, but Arsenal fans may have to wait for confirmation: Real Sociedad have expressed a preference for the deal to be ratified in July for accounting purposes.

Arsenal are also interested in finding other ways to augment their attacking threat, perhaps through a wide player. While there has been a lot of speculation about the left flank, Arsenal may need a player who is an option on the right. Raheem Sterling has not yet been officially notified that his time at Arsenal will not be extended, but the expectation is that he will leave when his loan from Chelsea expires at the end of June. Ethan Nwaneri can play that position but in the long term, he has been earmarked for a central role. That leaves Arsenal without an obvious alternative to Bukayo Saka. If Arsenal do go for a wide player, the ability to play on either flank would be advantageous.

Arsenal are in the market for a new goalkeeper as an understudy for David Raya. Their longstanding interest in Espanyol’s Joan Garcia is well documented, but he appears to be headed elsewhere. Arsenal are already working on alternatives.

They have also explored the signing of a young centre-half to complement William Saliba and Gabriel. They had a considerable interest in Vitor Reis, prior to the Brazilian teenager landing at Manchester City in January, and also hoped to sign Dean Huijsen from Bournemouth before he moved to Real Madrid. If Arsenal can identify a central defender of similar promise, they may pounce.

The club have also allocated budget to Per Mertesacker to enable him to strengthen the academy.

What is the manager’s priority?

Mikel Arteta has spoken about his desire to improve the size of the Arsenal squad, describing last season’s roster as “super-short”.

In terms of positional needs, centre-forward is, as mentioned, likely to figure prominently in this thinking. Arteta pushed for the signing of Ollie Watkins from Aston Villa in January, but Arsenal ultimately had concerns over the price-tag. Arteta will be determined to remedy the situation this summer.

Are there any specific players they are targeting?

Having accepted that Alexander Isak of Newcastle appears beyond reach, Arsenal have explored the parameters of deals for centre-forwards Viktor Gyokeres and Benjamin Sesko. Arsenal’s leadership group have debated the merits of both players. If they have made a clear decision on their preference, they are keeping it close to their chests.

If it is to be Sesko, RB Leipzig would prefer an early sale. That would grant them clarity and time to help their rebuild. Having missed out on the Champions League, there’s also a financial shortfall to meet. Gyokeres, however, may be the cheaper overall package. Arsenal must weigh the price for the Sporting CP forward, alongside a number of other criteria, before making a final decision.

There are also other names under discussion: January target Watkins has not been discounted entirely, although Arsenal would have the same reservations on price.

In the wide areas, Arsenal have also explored a number of options. Senior figures at the club have held talks with 29-year-old Leroy Sane, who is out of contract with Bayern Munich this summer. Sane also has interest from Saudi Arabia and elsewhere in England. The expectation has been that Sane, whose family are happy in Munich, would renew with Bayern — but Arsenal are an alternative if the Germany international decides to move on.

Brentford’s Bryan Mbeumo is another player who caught Arsenal’s eye — but he has decided he wants to join Manchester United.

Arsenal’s interest in Nico Williams is longstanding, while the coaching staff are also keen admirers of Real Madrid’s Rodrygo. The numbers associated with a hypothetical deal for the Brazilian international, however, would be challenging. Anthony Gordon of Newcastle is another who Arsenal like, but who would command a high fee.

Who will they be looking to sell?

Oleksandr Zinchenko could leave this summer. The arrival of Riccardo Calafiori and subsequent emergence of academy player Myles Lewis-Skelly have seen Zinchenko fall down the pecking order.

Other potential sales are likely to involve players who spent last season out on loan.

Arsenal have taken up the option to extend Albert Sambi Lokonga’s contract by a year. That should enable them to sell him this summer for a reasonable fee. Sevilla had an option to make last season’s loan move permanent, but have not enacted the clause. Lokonga’s preference would be to remain in Spain.

Reiss Nelson is another who could be on the move permanently — if he can prove his fitness. Nelson, who was on loan at Fulham, underwent surgery for a hamstring injury in February. Fabio Vieira spent the year with Porto but his future is now uncertain. Karl Hein is another whose next step is yet to be decided. He spent last season on loan at Real Valladolid, and is keen to continue playing first-team football.

What moves have they made already?

Kieran Tierney and Jorginho have agreed pre-contracts with Celtic and Flamengo, respectively.

What sort of budget do they have and what is their PSR position?

Arsenal intend to be — and plan in order to be — fully compliant with both the Premier League and UEFA’s financial rules.

UEFA’s are actually more challenging to meet. They limit clubs’ spending on wages, transfers and agents’ fees to 70 per cent of their revenue. Arsenal should, however, be in a position of some flexibility, having offset last summer’s purchases by selling the likes of Eddie Nketiah, Aaron Ramsdale and Emile Smith Rowe.

James McNicholas

---

Chelsea

What positions will they be looking at in the summer window?

They have already bought one striker, but there could be another on the way. Certainly, adding more attacking talent is one of the priorities, and that includes a right-footed left winger. Chelsea are open to buying in other areas too, but it very much depends on what deals for the quality required are possible.

For example, by making a strong move for Bournemouth’s Dean Huijsen before he opted for Real Madrid, they showed they are prepared to buy a centre-back, but only if the right opportunity comes up.

This approach has even been extended to the goalkeeper position. This is not to say they will definitely sign another one because they already have what are considered to be good options in Robert Sanchez, Djordje Petrovic (loaned to Strasbourg last season), Filip Jorgensen and teenager Mike Penders (officially joining from Genk in this window after being signed last August). However, none of the first three has been earmarked as the definite No 1 for next season either, while Penders is still too inexperienced to be considered for the job yet.

What is the manager’s priority?

It does not really work that way at Stamford Bridge.

In the Chelsea structure, the sporting team — Paul Winstanley, Laurence Stewart, Joe Shields and Sam Jewell — recruit the players with some input from the head coach, but the ultimate decision lies with them.

Are there any specific players they are targeting?

As The Athletic revealed last week, Chelsea have interest in Eintracht Frankfurt forward Hugo Ekitike, who is also of interest to Liverpool if Darwin Nunez leaves, and that has not gone away just because they have succeeded in acquiring Liam Delap from Ipswich Town. But the club are not prepared to meet the German side’s €100million valuation.

Borussia Dortmund’s Jamie Gittens and Manchester United’s Alejandro Garnacho are on their list of winger targets. Real Madrid’s Rodrygo is not under consideration.

As far as centre-backs are concerned, one of the names not being considered right now is Everton’s Jarrad Branthwaite.

Who will they be looking to sell?

There is a rather long file. The majority of those who have been away on loan is a fairly obvious place to begin because they left to get more first-team football in the first place: so there’s Sterling, Ben Chilwell, Carney Chukwuemeka, Armando Broja, Kepa Arrizabalaga, Renato Veiga and Axel Disasi to start with. Joao Felix is another possibility, too.

Lesley Ugochukwu is well-liked and his loan at Southampton is viewed positively, but Chelsea are now well stocked in midfield. Chelsea believe he will generate a lot of interest this summer. Alfie Gilchrist, who was on loan at Sheffield United last season, is expected to explore his options. Fellow academy graduate Leo Castledine is pursuing a move elsewhere and there will be others from the junior ranks doing the same.

Meanwhile, from the senior squad that did play under Enzo Maresca last season, Christopher Nkunku is going to depart. The Athletic reported in November that he was not happy at Stamford Bridge.

Trevoh Chalobah and Kiernan Dewsbury-Hall might have a decision to make given their place in the first XI is not assured, while one of the goalkeepers — not Penders — may go on a permanent basis.

Will anyone move out on loan?

Yes. Ecuador international Kendry Paez, who is officially a Chelsea player now, having agreed to join from Independiente del Valle in his homeland two years ago, is expected to go to Strasbourg. Midfielder Mathis Amougou, bought from Saint-Etienne for £12.5million earlier this year, is going to join him there.

Other youngsters in line for a loan are striker Marc Guiu, defender Aaron Anselmino, and Penders. Having suffered a bad thigh and knee injury to end his spell at Goztepe in Turkey prematurely last December, a loan is also being seen as an option for striker David Datro Fofana.

What moves have they made already?

Delap is having his medical ahead of a move from relegated Ipswich for £30million. But the squad is also going to be boosted by the arrival of three other signings already agreed over the past 12 months. There is Brazil international Estevao Willian, bought from Palmeiras for an initial €34million, Sporting CP midfielder Dario Essugo for £18.5m and highly-rated Strasbourg centre-back Mamadou Sarr for €14m.

Midfielder Andrey Santos is also going to be part of the senior squad for the first time, having impressed on loan at Strasbourg over the past 18 months.

What sort of budget do they have and what is their PSR position?

How much business Chelsea do will partly depend on the amount of money they can raise from the sales listed above.

But they are in a strong financial position, having qualified for the Champions League and can make up to £97million ($131m) at the Club World Cup, which kicks off in the USA later this month.

There are no concerns over PSR.

Simon Johnson

---

Liverpool

What positions will they be looking at in the summer window?

Liverpool have already strengthened their right-sided options with the £29.5million signing Jeremie Frimpong from Bayer Leverkusen. Internally, he is not viewed as a like-for-like replacement for Trent Alexander-Arnold, who has joined Real Madrid.

Part of the attraction for Liverpool is Frimpong’s versatility, with the Netherlands international having previously shone at full-back, wing-back and as a winger. It promises to be a busy summer for the Premier League champions, who are also currently looking to secure deals for an attacking midfielder and a left-back.

What is the manager’s priority?

Arne Slot has spoken about wanting to add “new weapons” to his Liverpool side. He knows they need to evolve and improve if they are going to build on winning the title.

He is also determined to ensure they are serious contenders for the Champions League in 2025-26, having been knocked out at the round-of-16 stage last season (albeit by eventual winners Paris Saint-Germain, who they took to penalties). Slot wants to add more pace, more dynamism, more creativity and more goals.

Are there any specific players they are targeting?

The big one is Bayer Leverkusen’s Florian Wirtz. Liverpool are prepared to shatter their transfer record to land the gifted Germany international. Last week they made an improved bid of around £109million, inclusive of add-ons.

Discussions between the clubs are continuing. Wirtz, who had also attracted strong interest from Bayern Munich and Manchester City, is keen on following Frimpong to Anfield.

The 22-year-old, who is currently with the Germany squad preparing for Wednesday’s Nations League semi-final against Portugal, would be a hugely exciting addition. He scored 10 goals and provided 13 assists in 31 Bundesliga appearances in 2024-25. Wirtz can play out wide but has predominantly operated centrally as a No 10 or false nine.

Liverpool have also targeted Bournemouth left-back Milos Kerkez, who the south coast club value at around £45million. Further incomings after Wirtz and Kerkez would be heavily influenced by outgoings.

Who will they be looking to sell?

Liverpool have already banked €10million after striking a deal with Madrid for Alexander-Arnold to leave a month early so he can play for them in the Club World Cup.

They have also agreed a fee rising to £18million with Brentford for goalkeeper Caoimhin Kelleher, who only had one year remaining on his contract and was desperate to become a No 1 after a long stint as Alisson’s deputy. Giorgi Mamardashvili, who was bought for £29m last summer, will arrive from Valencia next month to compete with Alisson for a starting place.

Liverpool should also raise significant funds from the sale of Darwin Nunez, who has attracted interest from the Saudi Pro League. Atletico Madrid and Milan have also been monitoring his situation. There is also uncertainty over the future of Luis Diaz, who has been linked with Barcelona and Saudi club Al Nassr. His contract is due to expire in 2027.

If, as expected, Liverpool sign Kerkez, then one of their current left-backs would be surplus to requirements, with Kostas Tsimikas deemed the most likely to depart.

It remains to be seen whether players who found their game time limited in 2024-25, such as Harvey Elliott and Jarell Quansah, push for a move and what kind of offers are forthcoming. Tyler Morton, Nat Phillips and Rhys Williams are expected to leave in search of a fresh challenge.

There is also plenty of interest in Ben Doak, whose successful loan spell at Middlesbrough last season was cut short by injury, and Stefan Bajcetic, who had temporary stints at Red Bull Salzburg and then Las Palmas.

Will anyone move out on loan?

Jayden Danns, who was loaned to Sunderland in January only to quickly return to Merseyside with a back injury, and James McConnell are likely to be sent out to boost their development. There are also decisions to be made on youngsters such as Owen Beck, Lewis Koumas, Kaide Gordon, Calvin Ramsay, Luke Chambers and Luca Stephenson.

Third-choice goalkeeper Vitezslav Jaros is keen to gain more senior experience after staying put as cover in 2024-25. Harvey Davies could potentially step up. The academy graduate would have been out of contract this summer, but he recently signed an extension.

What sort of budget do they have, and what is their PSR position?

Club owner Fenway Sports Group remains committed to a self-sustaining business model, with all revenues generated made available to be reinvested into the club. Each prospective deal is assessed on its merits rather than Liverpool having a set amount they can spend.

The latest accounts, covering the 2023-24 season, saw the club post a pre-tax loss of £57million. However, they have no concerns in terms of PSR as they made a profit of £7.5m in 2021-22 and a loss of £9m in 2022-23.

The financial landscape for Liverpool next season is much rosier with another money-spinning crack at the Champions League and the riches of winning the Premier League title. They also have a new kit sponsorship deal with Adidas kicking in this summer — one which represents a significant increase on the current agreement with Nike, which is worth around £60million per season when royalties are included — and a lucrative pre-season tour of Asia, where they will play games in Hong Kong and Japan.

They have the flexibility to finance deals like the one for Wirtz. Signing him and Kerkez, having already secured Frimpong, would take their summer outlay beyond £180million, but Liverpool will expect to claw back a big chunk of that through sales.

James Pearce

---

Has Liverpool’s quiet summer last year allowed them to spend this window?

Per their most recent accounts, Liverpool’s net transfer spend last summer was just £100,000 and, though winning the Premier League might have crystallised some performance-related clauses on existing players, it’s clear they spent little in 2024-25.

The coming summer looks rather different. Frimpong has already joined for just shy of £30million; a club-record £109m bid for his Leverkusen team-mate Wirtz was lodged on Friday. There’s an obvious willingness — and ability — to spend this year.

That is, at least in part, down to last year’s frugality. Based on 2023-24 financials, Liverpool already boasted lower transfer fee amortisation costs than their ‘Big Six’ rivals, lagging over £21million per year behind fifth-highest Spurs. Last year’s lack of spending will have only seen the gap grow wider and, with Liverpool’s revenue expected to soar over £700m in 2024-25, their scope for transfer spending looks much broader.

Under FSG, Liverpool have carefully managed their transfer outlay. That is born more of a desire to be run sustainably than from fear of breaching regulations or cash flow troubles; they have little to worry about in PSR terms, and in September 2024, increased their revolving credit facility (basically, a flexible loan) from £200million to £350m. The cash is there to be drawn upon, if they want to.

Net transfer spend under FSG has tended to dip to zero every couple of years, reflective of the ownership group’s desire to run the club largely within its means. After last summer followed that trend, Liverpool definitely have the capacity to invest this time.

Chris Weatherspoon

---

Manchester City

What positions will they be looking at in the summer window?

There is the possibility that Ederson, the first-choice goalkeeper of the past eight years, could leave, so a new goalkeeper could be on the cards. Stefan Ortega is an able deputy but the German also left his future in doubt in recent months. So, too, are the full-back positions where City have been deploying midfielders Matheus Nunes and Nico O’Reilly due to the lack of options.

The gaping hole left by De Bruyne, who announced in April he is leaving City, also needs to be filled. There is unlikely to be one single player who can replicate his creative output so a mixture of players already at the club and a couple of additions looks to be the formula.

Another wide player is also likely with Jack Grealish’s descent down the pecking order leaving only Doku and Savinho as conventional wingers.

What is the manager’s priority?

To condense the squad. In an era in which most elite managers are pleading for bigger squads to cope with the relentless schedule, Pep Guardiola is railing against that thinking.

“I don’t want to leave five or six players in the tribune (sitting in the stand as there’s no room for them in the matchday squad),” he said after the 3-1 win against Bournemouth in May. “I don’t want that. I will quit. Make a shorter squad, I will stay. I don’t want to have 24, 25, 26 players when everyone is fit. If I have injuries, unlucky. We have some players from the academy and we do it.”

Are there any specific players they are targeting?

They are keen on Milan’s Tijjani Reijnders.

The Netherlands international was named Serie A midfielder of the year for 2024-25 and would fill one of the number eight spots that City are lacking in. At 26, he is entering his peak years compared to Ilkay Gundogan and Bernardo Silva, who turn 35 and 31 respectively this year.

City were also interested in Florian Wirtz but Liverpool appear to be his preferred destination. They are exploring a deal for Lyon’s Rayan Cherki. Nottingham Forest’s Morgan Gibbs-White is another player they are considering to bolster their midfield options. City are also pursuing a deal to sign Ait-Nouri from Wolverhampton Wanderers, as reported by The Athletic on Monday.

Who will they be looking to sell?

Ederson is open to a move to the Saudi Pro League, which could have happened last summer had a club met City’s valuation. He only has one year remaining on his deal.

Grealish is a player who could also fetch a significant fee. He was a spare part for most of last season, starting only seven Premier League games, being left on the bench 12 times and failing to make the squad on the last day of the season.

Fellow England international John Stones could be another who could move on if clubs come in with the right offer. He managed only 13 starts in all competitions last season and with Ruben Dias, Josko Gvardiol, Manuel Akanji, Reis and Abdukodir Khusanov to pick from, City may be carrying an extra body when everyone is fit.

Will anyone move out on loan?

Claudio Echeverri could be a player City Football Group uses its network to develop. He was signed from River Plate in January 2024 but was loaned back so he could play first-team minutes in Argentina.

He made his debut as a substitute in the FA Cup final defeat last month in which he spurned several big chances and it could be that the 19-year-old is one who needs to play more before being expected to perform in the Premier League.

What moves have they made already?

City had an opening bid rejected for Reijnders last week and the two clubs remain apart on a fee.

He only signed a new deal this year, which ties him to Milan until 2030, so they are keen to extract value for one of their star players.

It is expected City will return with an improved offer.

What sort of budget do they have and what is their PSR position?

City are in a healthy position, even after their £183million January spree. They should be able to invest heavily in refreshing the squad.

In the three years to the end of last season, City booked a cumulative pre-tax profit of £195.9million. Using a combination of estimates and figures disclosed in the accounts, The Athletic’s BookKeeper projected City’s PSR headroom in last season’s calculation came to around £324m.

The fees for Nico Gonzalez, Omar Marmoush, Abdukodir Khusanov and Vitor Reis will be spread across four and a half years and City also brought in big money from the sales of Julian Alvarez, Joao Cancelo and Liam Delap.

Jordan Campbell

---

Manchester United

What positions will they be looking at in the summer window?

United have already announced the signing of Matheus Cunha, who is expected to operate as one of the two No 10s behind the striker. Bringing in a new centre-forward is also on the agenda after missing out on Liam Delap — with a move in the offing for Brentford’s Bryan Mbeumo.

Coach Ruben Amorim is also believed to want an athletic No 8-type midfielder, while strengthening in the wing-back area is on the agenda too. A new goalkeeper could come into the reckoning should Andre Onana depart, but indications at this stage are that position is lower down the list.

What is the manager’s priority?

Adding goals to the team is the main priority after a league campaign in which United scored just 44 times, around half the total of champions Liverpool (86). This followed three years of United scoring 57, 58, and 57 goals in each Premier League season, so it is a historic problem that got exacerbated last term.

Getting wing-backs who can attack the final third or come inside to create central overloads is also a crucial aspect for Amorim’s vision of 3-4-2-1 to be realised.

Are there any specific players they are targeting?

The approaches for 26-year-old Cunha and Delap, 22, show the kind of player United are targeting: Premier League experience, good scoring records, yet still with years ahead of them. Both also had the benefit of release clauses, thus simplifying the process dramatically.

On Monday night, The Athletic reported that Mbeumo, 25, has decided he wants to join United. He had been on their list as an alternative, and now Delap has chosen Chelsea, United have reconfigured their plans to try to secure the Brentford forward.

Mbeumo has hit 20 Premier League goals in a season for the first time in his career: in previous campaigns, when Ivan Toney led the line, he managed four, nine and nine goals respectively. While he does not have a release clause, Brentford accept this may be the summer to sell, with his contract running to 2026 with the option of an extra year.

Amorim is a major admirer of Viktor Gyokeres, his former Sporting CP striker, while Antoine Semenyo, the Bournemouth winger, has also been looked at by United. Napoli striker Victor Osimhen‘s expected wages had been seen as prohibitive, but there could be a reevaluation now that the move for Delap is off.

Who will they be looking to sell?

As has seemed to be the case every summer for the last decade, getting sales right will have a huge bearing on United’s business. The emphasis is heightened now, though, not only to raise funds because of United’s bleak financial picture but to shape the squad to Amorim’s wishes. The absence of European football next season means he wants a trimmed squad, in any case.

Amorim has made clear that Alejandro Garnacho is on the market, United will also press to get adequate offers for Marcus Rashford, Tyrell Malacia and Antony, who all spent the second half of last season out on loan. United will hope Chelsea follow through on the obligation to buy Jadon Sancho after his loan spell there.

Rasmus Hojlund might also become subject to a move away if United sign a centre-forward — Inter are looking at him — while Saudi Arabian club Al Hilal’s approach for Bruno Fernandes could yet transform the entire strategy at Old Trafford.

Will anyone move out on loan?

The wages being earned by United players mean that loans are more likely than sales in quite a few cases. Temporary moves mean they keep earning their full salaries — usually paid in combination by United and the borrowing club — while getting a chance to play regularly.

That could yet be the solution for Rashford who, after a loan at Aston Villa, is pursuing his aim to play for Barcelona. His brother and agent, Dwaine Maynard, was in the Spanish city for talks, with Barca head coach Hansi Flick speaking warmly about Rashford.

There are several young players at United for whom loan moves will be explored.

What moves have they made already?

Signing Cunha as soon as the window opened on June 1 was an uncharacteristically swift move by United, aided by the terms of the transfer already being agreed by Wolves. They also held face-to-face talks with Delap that were ultimately unsuccessful.

The Old Trafford club are set to open talks with Brentford over Mbeumo as they pursue an agreement to sign the forward, and further checks on other targets are ongoing behind the scenes.

What sort of budget do they have and what is their PSR position?

Finances are tight, but United did budget to sign Cunha and Delap without Champions League football. Their combined fees of £92.5million could be offset in cash terms by instalments — Wolves will be paid in three equal chunks starting this summer, for instance — and also on the books by amortising the fees over the length of their contracts, in Cunha’s case, an initial five years.

The money assigned to Delap, who will be sold by Ipswich for £30million, can now be used for an alternative player. Signings beyond that are set to be dependent on sales.

In January, United wrote to fans to outline the PSR dangers: “We are currently making a significant loss each year — totalling over £300million in the past three years. This is not sustainable and if we do not act now we are in danger of failing to comply with PSR/FFP requirements in future years and significantly impacting our ability to compete on the pitch.”

Laurie Whitwell

---

Why are Manchester United limited in what they can spend?

Sunday’s confirmation of Cunha’s £62.5million move from Wolves set the ball rolling on another busy summer of transfers at Old Trafford and, to the untrained eye, may give a false sense of how easily United can spend this summer.

Yet there’s a reason the sale of Fernandes, widely accepted as their best current player, is also being entertained. United’s transfer spending has been huge in recent years, even as on-field results have dropped. The 2024-25 season marked the third consecutive campaign where the club spent over £200million on new players.

In that same time, annual player sales haven’t once topped £60million, and the club’s record proceeds came way back in 2008-09, when the sale of Cristiano Ronaldo to Real Madrid helped generate £83.7m overall.

Where, for a while, United’s commercial strength ensured the transfer train kept rolling, there’s now increasing evidence of debris on the tracks.

Through spending like a Champions League club while failing to actually be one — next season will be the sixth time in 12 years United have been absent from UEFA’s premier competition — the club’s resources have dwindled. To the end of December 2024, they had £95.5million cash on hand but owed a net £300.1m in transfer fees.

After paying the cost of their transfer dealings, United’s free cash has been underwater in recent years. That helps explain why the club were so keen to spread the payments on the Cunha deal beyond the two years Wolves insisted upon, terms United eventually — reluctantly — acceded to.

Chris Weatherspoon

---

Newcastle United

What is the manager’s priority?

It is twofold: retain Newcastle’s elite players and finally inject fresh quality into a squad that Eddie Howe has admitted risks becoming “stale”.

The club were always bullish about keeping hold of their stars, including Alexander Isak, and that position has been bolstered by Champions League qualification. Rebuffing interest in striker Isak — and potentially tying him down to a fresh contract, with talks floated — is the absolute priority.

None of Sandro Tonali, Bruno Guimaraes, Anthony Gordon or Tino Livramento is for sale, either. Newcastle do not have the same PSR constraints as last summer this time, and the desire is to improve the squad, not weaken it.

The expectation is that two to three high-class additions can really elevate an already successful group to fresh heights.

Are there any specific players they are targeting?

Newcastle’s interest in Marc Guehi remains, following the failed month-long pursuit of the Crystal Palace defender last August. Having missed out on Bournemouth’s Real Madrid-bound Dean Huijsen, they have a shortlist of centre-back targets, with Guehi highly regarded.

At right-sided forward, Brentford’s Bryan Mbeumo was watched extensively and had his admirers within St James’ Park. He has decided he wants to join Manchester United, though. Bournemouth’s Antoine Semenyo and Nottingham Forest’s Anthony Elanga have also been tracked, but so have European-based wingers.

They have no interest in Jack Grealish, even though the Manchester City forward has been linked with them — Newcastle already have two top-class left-wingers in Gordon and Harvey Barnes, and would not pay Grealish-level wages, especially for a 29-year-old.

Goalkeeper-wise, Newcastle had an offer rejected for Burnley’s James Trafford 12 months ago and are expected to return for the 22-year-old, whose price tag has risen following a stellar campaign. Joan Garcia‘s impressive season at Espanyol has been noted.

Newcastle were among the clubs to have registered an interest in meeting Ipswich striker Liam Delap‘s £30million release clause. Lille’s Jonathan David was tracked, but is expected to head elsewhere. Brighton’s Joao Pedro has long had strong advocates within Newcastle’s recruitment team, too.

Post-takeover, when it comes to age profile, Newcastle have focused on top-level players in the 21 to 23 age bracket who can grow with the club, and that remains the focus, whether recruited from the Premier League or Europe.

Who will they be looking to sell?

Sean Longstaff‘s future is uncertain, even if an exit appears likely. The 27-year-old turned down opportunities to leave in January but is entering the final 12 months of his deal. Should Newcastle sell, they can bank “pure profit” in PSR (the Premier League’s profit and sustainability rules) terms. However, Longstaff is their only “club-trained” senior player, meaning keeping the academy graduate would be beneficial to European squad numbers.

Howe would ideally like to keep hold of Joe Willock and Barnes, though Newcastle may have to consider decent offers for both, given funds could be reinvested. Kieran Trippier is also valued by Howe, but the right-back has been repeatedly linked with an exit.

Odysseas Vlachodimos, the £20million goalkeeper who has made only one substitute appearance, is available. Martin Dubravka‘s situation at the same position is also unclear, despite signing an extension in January.

Newcastle will listen to offers for Matt Targett, while a resolution is required to Isaac Hayden‘s situation as he is not part of Howe’s plans. Garang Kuol, the Australia international, may be sold.

Newcastle will rebuff interest in Isak, Gordon, Livramento and Tonali.

Will anyone move out on loan?

Lewis Miley is wanted by clubs across Europe, but Newcastle will definitely not sell him and are unlikely to let the 19-year-old out temporarily, either, given the additional matches next season now they are back in the Champions League.

A decision must be made on the next phase of William Osula‘s development. A loan offering regular game-time may be beneficial for the 21-year-old, though retaining squad depth is important, and the forward can keep improving with regular coaching on Tyneside.

What moves have they already made?

Newcastle have opted against enacting the one-year extension option in Callum Wilson’s contract. While talks have been held with his camp over a more incentivised deal, it appears increasingly likely the 33-year-old will depart.

Lloyd Kelly’s initial loan to Juventus will become permanent and Newcastle will receive up to £20million for the defender, who joined them on a free last summer and made only four league starts. Jamal Lewis’ contract is up, and the 27-year-old left-back will leave on a free.

Antonio Cordero, the 18-year-old Malaga winger, has agreed to join after rebuffing interest from Real Madrid and Barcelona. He has undertaken his promotional shots at the club already and will join the under-21 squad.

What sort of budget do they have, and what is their PSR position?

Rather than speculate on a specific budget given the difficulty in doing so, and given the caveat of how deals are structured and amortised, the expectation is that Newcastle will carry out similar business to two summers ago when they were last preparing for a Champions League campaign.

Newcastle then brought in Tonali and Barnes, both established at the top level, and Livramento and Lewis Hall, exciting long-term prospects who could also contribute immediately. Around £130million was spent, alongside a deferred £28m for Hall, though it is unclear whether they have the PSR capacity for a similar outlay this summer.

Thankfully for them, Newcastle do not face the same PSR jeopardy as 12 months previously, with the message being that sales are not necessary before June 30 due to the money made when offloading Miguel Almiron and Kelly in January.

Although Howe has publicly stressed PSR is no longer the limiting factor it has been for three largely fruitless windows, Newcastle are still inhibited when it comes to transfer fees and especially wages.

Chris Waugh

---

Tottenham Hotspur

What positions will they be looking at in the summer window?

The lack of depth in Tottenham’s squad was brutally exposed last season as they struggled to deal with the demands of playing regularly in the Europa League, suffering a major injury crisis. The Champions League will be a significantly greater challenge come September, and they need quality reinforcements for it. Ange Postecoglou explicitly mentioned this after their defeat to Brighton on the final day of the season, when he spoke about needing players “who are going to be comfortable at that (Champions League) level, not players who are stepping up to that level”.

Spurs desperately need a centre-forward capable of easing the pressure on £65million club-record signing Dominic Solanke. Backup striker Richarlison only made 15 appearances in 2024-25, for a grand total of 500 minutes, because of calf and hamstring injuries.

Rodrigo Bentancur and Yves Bissouma are not perfect fits for the holding midfield role, and both only have a year left on their contracts. Spurs need to consider whether it is worth keeping them or finding an upgrade.

Brennan Johnson was their top scorer in the Premier League with 11 goals, but can be guilty of fading in and out of games. Maybe the Wales international would benefit from added competition on the right wing. Dejan Kulusevski can provide cover for Johnson, but his performances up until January made it clear he belongs in a central attacking midfield role.

What is the manager’s priority?

This is the multi-million pound question.

At the time of writing, there is still a lack of clarity over Postecoglou’s future. Everybody is in limbo waiting to see what will happen to the man who guided Spurs to their first trophy in 17 years. If that keeps Postecoglou in the job, then expect him to focus on recruiting experience for his third Tottenham season.

Spurs over-relied on a core group of young players in the campaign just ended, including Destiny Udogie, Lucas Bergvall and Archie Gray, who will need more help in the future. If chairman Daniel Levy decides to sack Postecoglou, his replacement will surely want signings who suit his preferred style of play.

It is not an ideal situation to have this much uncertainty heading into a transfer window. Prospective targets will wait to see what happens with Postecoglou before deciding whether they want to join Spurs or not, and that might open the door for other teams to make a move.

Are there any specific players they are targeting?

Spurs enquired about signing Yoane Wissa in January, but Brentford made it clear they would not sell the DR Congo international forward in the middle of a season.

Wissa, who finished the campaign with 19 goals in 35 appearances, has one year left on his contract, though Brentford have the option to extend it by an extra 12 months. He would be a shrewd signing as he is capable of playing in multiple positions across the front line, but the size of the transfer fee and then his required salary might be off-putting as he turns 29 in September.

Who will they be looking to sell?

A big decision needs to be made about their two defensive midfielders. Bentancur performed better last season, which might mean it is time to wave goodbye to Bissouma.

Richarlison put his injury problems behind him to start both legs of the Europa League semi-final and then the final, but it may also be time for him to leave. The Brazilian tends to score when he plays, but has struggled with fitness issues for all three seasons he’s been at Spurs. Manor Solomon has just helped Leeds United win promotion from the Championship and is a prime candidate to be sold when he returns from that loan.

Cristian Romero is the vice-captain and was instrumental in Tottenham’s European success. The Argentina international recently turned 27, has two years left on his contract, and publicly flirted with the idea of playing in Spain’s La Liga in April. Spurs fans would be gutted to see Romero leave, but he could command a substantial fee if he did, and his inconsistency might make it tempting to cash in.

Pierre-Emile Hojbjerg‘s loan to Marseille last summer will be made permanent in this one for a fee of €20million.

Will anyone move out on loan?

When everybody returns from loan, Spurs will have a massive squad. There are some players, such as Bryan Gil, who will probably leave permanently in this window and others, including youngsters Will Lankshear and Yang Min-hyeok, who could benefit from another loan where they will receive regular game time.

Does Jamie Donley deserve to be part of his parent club’s first-team squad now after a wonderful season with third-tier neighbours Leyton Orient?

What moves have they made already?

The club agreed a deal with Hadjuk Split two years ago to sign Luka Vuskovic, and he will finally arrive this summer. The centre-back had to wait until he turned 18 in February before he could join Spurs. Vuskovic impressed on loan with Belgian side Westerlo last season, and it will be interesting to see if he is immediately included in the first-team squad at Tottenham or heads out on another loan.

Vuskovic is highly rated and has been called up by Croatia’s national team for the first time ahead of their World Cup qualifiers in June.

The original plan was for Tottenham to sign Antonin Kinsky in this window, but Guglielmo Vicario’s ankle injury forced them to bring their plans forward to January. Mathys Tel was borrowed from Bayern Munich in a deal including an option to buy, so they need to consider whether to take it up. Kevin Danso’s loan from Lens contained an obligation to sign him permanently, which will be activated in the coming weeks.

What sort of budget do they have and what is their PSR position?

Winning the Europa League final last month should significantly boost Spurs’ spending power.

When the club released their accounts for the 2023-24 season in March, Levy said: “I often read calls for us to spend more, given that we are ranked as the ninth-richest club in the world. However, a closer examination of today’s financial figures reveals that such spending must be sustainable in the long term and within our operating revenues. Our capacity to generate recurring revenues determines our spending power. We cannot spend what we do not have, and we will not compromise the financial stability of this club.”

If Spurs had not beaten Manchester United in Bilbao and so been out of Europe for next season, it would have been difficult to foresee them spending significant amounts on players this summer, not at least without making sales first. But now they are in the Champions League as Europa League winners, with a guaranteed four home games in its league phase, the situation is a bit brighter.

PSR headroom has never been a problem for them. The Athletic has estimated Tottenham have wiggle-room of more than £200million to spend. The issue has been whether they have the actual cash to do that, even with revenues breaking £500m in the last two seasons. But the prospect of that flow of Champions League money coming back online next season should make for a more comfortable summer.

The prize pot for UEFA’s blue-riband club competition this season was around €2.4billion. Every club who qualified for the league phase was rewarded with €18.6m, then got an extra €2.1m for every win, with draws worth €700,000. Even if Spurs lose every game in the 2025-26 Champions League, they would still earn a significant amount of money, and that’s before you add gate receipts, merchandise income and food sales.

If Postecoglou goes, his replacement will feel confident about being sufficiently backed in the transfer market.

Jay Harris and Jack Pitt-Brooke

---

Barcelona

What positions will they be looking at in the summer window?

Sporting director Deco and head coach Hansi Flick have both said they would like a new left-winger. They feel the team lacked depth in that position in the key stages of last season, and adding a new quality signing would help with another year of competing on three fronts.

The second position Barcelona has set as a top priority is goalkeeper. Wojciech Szczesny was offered a two-year contract extension back in May. If he accepts, he and Marc-Andre ter Stegen will be Flick’s two options in goal.

Ter Stegen is 33 and Szczesny is 35. The latter was a decent back-up last season but not a star player, and with Ter Stegen coming back from a long-term knee injury, Barcelona are eyeing a long-term replacement.

Are there any specific players they are targeting?

Deco and Flick mentioned Luis Diaz and Rashford by name in recent press conferences. Barcelona are monitoring both players, with Rashford considered a more affordable option than Diaz, Deco’s preferred option. But it is still too early in the transfer window for Barcelona to know if they can progress with either of them.

Barcelona’s finances will ultimately be the deciding factor in any business the club does. Right now, it’s still uncertain whether La Liga will allow them to register new players. Last season, they had to fight in the courts to register Dani Olmo and Pau Victor, as La Liga would not register them while the club were in breach of its spending rules.

Beyond Diaz and Rashford though, Barca’s top priority is Joan Garcia. The Espanyol goalkeeper, arguably the best in his position in La Liga last season, is seen as a market opportunity. His release clause is set at €25million, and Barcelona believe there is hardly a better option for a top goalkeeper in the market.

The fact he is at Espanyol, Barcelona’s local rivals, could influence Garcia’s thinking. And Premier League clubs are interested in him too, including Arsenal.

Who will they be looking to sell?

Barcelona would be open to selling many players, but not a lot of them want to leave.

They were ready to field bids for Ronald Araujo when they inserted a €60million release clause in his latest contract, but the 26-year-old did not have a great run of form in the second half of the season and may not attract many suitors. Perhaps more pertinently, the player now seems to have his mind set on staying and fighting for a place in the starting line-up.

Defender Andreas Christensen is entering the last year of his contract, but he would prefer to stay as well. Then there’s the situation of Ter Stegen. If Garcia were to arrive, Barcelona would be open to selling their German captain. However, Ter Stegen confirmed over the weekend, while on international duty, that he is certain he’ll be at Barcelona next season.

However, No3 goalkeeper Inaki Pena does look likely to leave on a permanent basis, having lost his place in Flick’s starting line-up to Szczesny in January (when Ter Stegen was injured). Pena has only a year left on his current deal, and both the player’s camp and the club agree that a departure is the best scenario.

Will anyone move out on loan?

Yes, especially among those players on big contracts who are difficult to move on permanently.

Ansu Fati is the clear example. After a season in which he made only 11 appearances, the 22-year-old attacker has accepted the idea of leaving on loan for a fresh opportunity. Monaco of France’s Ligue 1 are the club best-placed to sign him right now.

Pau Victor could follow the same path, if Barcelona manage to get a new attacking reinforcement. Hector Fort and Pablo Torre could also be loaned out, again if the club ends up signing players in their position this summer.

What moves have they made already?

Lamine Yamal’s contract extension. Deco described it as “the best possible signing of the summer” two weeks ago in an interview with local radio station RAC1. The deal ties Yamal down until 2031 — and has made him one of the top earners in the squad.

Raphinha also extended and improved his current contract last month after an outstanding season. In January, Barcelona extended the contracts of Pedri, Gavi, Pau Cubarsi, Araujo and Inigo Martinez. Frenkie de Jong and Eric Garcia should be next in line.

What sort of budget do they have and what is their salary limit position?

This is perhaps the most pertinent question right now. As outlined above, the club will only be able to successfully register players if they can get the green light from La Liga. What comes next depends heavily on Barcelona sorting out their finances.

On Wednesday, The Athletic will publish a more in-depth look at how things are shaping up in this regard — because, as ever, the full picture is rather complicated. Right now, it’s unclear exactly what room they have for manoeuvre — although any player departures, on loan or permanently will be bound to help.

Pol Ballus

---

Real Madrid

What moves have they made already?

Madrid moved quickly to reinforce their squad with promising players in all positions in which they have suffered injuries or have ageing players.

Last week, they secured Trent Alexander-Arnold’s long-expected signing from Liverpool — paying a fee of €10million to have the right-back available for them for the whole of the Club World Cup when he could have joined for free after the tournament.

Dani Carvajal has said he is expecting to return from October’s anterior cruciate ligament (ACL) injury at the Club World Cup, although this remains to be seen. Until Alexander-Arnold’s arrival, Lucas Vazquez was the only player available to new manager Xabi Alonso in that position. Vazquez is ready to leave after the Club World Cup, hence Madrid’s urgency in bringing forward this deal.

The club also signed centre-back Dean Huijsen from Bournemouth in a club-record £50million deal for a defender. This was another necessary move, given Antonio Rudiger, David Alaba and Eder Militao are all currently out with injury. That trio are expected to be able to play some role in the U.S. — although this is less clear with Militao — but the 20-year-old Spain international strengthens a weakened area of the team. Rudiger and Alaba are not expected to be fit for the start of the tournament in two weeks’ time.

What positions will they be looking at in the summer window?

There are two further deals which could be done before the Club World Cup.

Madrid are in talks with Benfica for their former academy left-back Alvaro Carreras, who would also cost around €50million. The 22-year-old Spaniard is their first option in this position, but sources involved in negotiations believe it will not be an easy deal as they say Carreras’ previous club Manchester United have an option to buy the player back which could be worth up to €20m — although voices at Old Trafford have played down this prospect. They do have a sell-on clause as part of the deal that took him to Benfica in 2024, worth 20 per cent of anything above the £5m the Lisbon club bought him for.

If Madrid do not sign Carreras, the club is considering other alternatives such as Leverkusen’s Alejandro Grimaldo.

Madrid could also look to the market for a midfielder. They have been looking at strengthening in that position for some time after Toni Kroos’ surprise retirement last year and with the imminent departure of Luka Modric, who will leave after the Club World Cup.

What is the manager’s priority?

“We always want to improve and since recently I want to have that communication with the club,” Alonso said at his presentation, without going into details of what he was looking for. “The squad is very good and it’s not that I’m coming to you (the club) with demands but with the idea of wanting to improve.”

The two signings who have already joined have met some of Alonso’s priorities. But he will be happier if a left-back also arrives, with reinforcements in other positions being considered

Are there any specific players they are targeting?

Apart from defence, another name to watch is Nico Paz.

The 20-year-old Como midfielder came through the youth ranks at Madrid and they have an €8million buy-back clause for him (it would rise to €9m in 2026 and €10m in 2027 if they do not trigger it this summer). That was part of the deal when he left Madrid last summer, when they sold the Argentina international for €6m with a first refusal to re-sign him from the Italian side and this buy-back clause.

Como worked to try to remove the clause last season, but Madrid hold the negotiating power and will make the final decision on Paz’s future. At this stage, Madrid executives have yet to communicate their intentions to Como but they are considering triggering the clause.

Who will they be looking to sell?

Goalkeeper Andriy Lunin has a contract until 2030 which he signed last year, but voices in his camp think he deserves greater prominence and are exploring other options. That happened last summer before the Ukrainian renewed his deal but Madrid and the player did not receive an appealing offer — which could influence his future again this summer. He has told sources at Madrid’s Valdebebas training complex that he intends to stay.

Left-back Fran Garcia was closely followed by Alonso when he was Leverkusen coach. But the possible arrival of a new player in his position means the 25-year-old could fall further down the pecking order. His priority is to stay, but Valdebebas sources are starting to doubt whether that will be possible. Clubs including Bournemouth have previously shown an interest in the Spaniard and whether he stays could be impacted by what his fellow left-back Ferland Mendy does. Mendy has a deal until 2027 but has been injured for much of the season.

The case of Rodrygo is complicated. The Brazilian did not play in the last few games of the season and the club did not publish a medical report explaining his absence, as they usually do with their injured players. Premier League teams have shown an interest in him, with Kylian Mbappe’s arrival last summer having reduced his role.

Alonso backed Rodrygo when asked about the forward during his post-presentation press conference.

“He is a Madrid player and I will have a conversation with all of them,” he said. “He is a spectacular player and we will need him.” According to sources close to Rodrygo, he wants to speak to the club and Alonso before he makes a decision.

Some players have already left. Jesus Vallejo departed as his contract was not renewed before the Club World Cup, with the 28-year-old defender assessing his options and thinking about Major League Soccer as a potential destination.

As mentioned, Vazquez and Modric are set to leave after the tournament. In Modric’s case, this was made official before the last game of the La Liga season, but Vazquez also received an emotional send-off at the Bernabeu. Both want to continue competing at the highest level.

Will anyone move out on loan?

It has become increasingly rare for Madrid to agree loan deals as they do not feel as if the players involved are guaranteed game time — especially when it comes to youngsters or academy graduates who have to progress. The club have tended to opt for selling players while inserting buy-back clauses and rights of first refusal in the deals, as was the case with Paz.

Sources at Valdebebas believe there are players from the club’s reserve Castilla side who could leave in this way this summer, including strikers Victor Munoz and Gonzalo Garcia. They have attracted interest within La Liga and from clubs abroad as well.

Guillermo Rai and Mario Cortegana

(Top photos of Wirtz, left, and Cherki: Getty Images; design: Eamonn Dalton)