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

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

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

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

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

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

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

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Seb Stafford-Bloor’s One To Watch

Nathaniel Brown’s future is yet to be resolved and any transfer this summer could well become a saga.

The Frankfurt full-back, who can also play in midfield on the right side of defence, is the subject of significant interest from Bayern Munich and Arsenal, which The Athletic reported on in last week’s DealSheet.

Currently, Bayern have held the most extensive discussions with the player’s representatives and convincing the player to move to Sabener Strasse would not be a problem. However, despite Brown’s versatility being an obvious selling point and the German champions needing reinforcement in each of the positions he’s able to cover, there is a significant difference in valuation.

Frankfurt’s asking price is €65m for Brown, 22, whose current contract runs until 2030. There is no release clause in that contract, either.

So far, Bayern have indicated no willingness to match that fee. It means that while they remain favourites to eventually sign Brown, who was born in Bavaria and seems set to start for Germany at this summer’s World Cup, the deal is far from complete and any negotiation is likely to be protracted.

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What Else We’re Hearing

• Roma have sent their forward Paulo Dybala terms for a renewed contract and the 32-year-old’s representatives have sent a counter-proposal. A Premier League club holds a strong interest in the forward and they are closely monitoring the situation. David Ornstein and James Horncastle

• Manchester United are considering a move for Karl Darlow as they search for an experienced backup goalkeeper. The 35-year-old’s contract with Leeds United expires at the end of this month and so he would be available on a free transfer. Leeds want to keep Darlow and are expected to offer him a new deal. United have also discussed Wolves’ Sam Johnstone as an option. Seb Stafford-Bloor, Laurie Whitwell, Beren Cross

• Eintracht Frankfurt are happy with Arnaud Kalimuendo, who spent the second half of last season on loan from Nottingham Forest, but are unwilling to meet the €27million clause to make that move permanent this summer. Sebastian Stafford-Bloor
• Royale Union Saint-Gilloise’s winger Anan Khalaili is in demand. The Belgian Cup winners have yet to receive an offer for Khalaili, who has a contract until 2028 (with the option for a further year) and no release clause, but Tottenham, Bournemouth, Napoli and Newcastle have all expressed an interest in the Israeli. Sebastian Stafford-Bloor
• Frankfurt’s Belgian international defender Arthur Theate is a target for Nottingham Forest; the club are yet to make a formal move, but have been in touch with the player’s representatives. Bournemouth also have an interest in a player Frankfurt value in the region of €20m. Sebastian Stafford-Bloor

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Arsenal

What has happened this week?

It is relatively quiet on the transfers front. After a short turnaround, Arsenal’s World Cup contingent have now all joined up with their international squads.

Why do Arsenal seem so keen to significantly alter the squad after the title win?

Manager Mikel Arteta and sporting director Andrea Berta believe now is the time for Arsenal to capitalise on their success and recruit from a position of strength.

In conversations with co-chair Josh Kroenke and the football leadership team, Arteta and Berta have emphasised the need to improve — and the risks of failing to do so. The Arsenal hierarchy appear determined to support the first-team’s pursuit of sustained success.

What positions/players are they looking at?

In their search for a new left winger, Arsenal made an enquiry about Juventus’ 21-year-old Turkish international Kenan Yildiz. They were informed in no uncertain terms that Yildiz was not for sale, and are consequently pursuing other options.

Arsenal also continue their drive to sign emerging talent. Their intention is to recruit high-ceiling players with first-team potential, or the capacity to drive revenue through player trading in future.

Their pursuit of Leicester City’s 16-year-old winger Jeremy Monga is ongoing. Personal terms are not expected to present an issue, but an agreement has not yet been struck between the clubs.

Monga had been expected to sign professional terms with Leicester in July. Arsenal are likely to try and strike a deal with Leicester before then, rather than face the uncertainty of going to a tribunal.

PSG’s 18-year-old defender Emmanuel Mbemba is another prospect that has been discussed internally. The left-sided defender is out of contract this summer and can leave for a nominal fee, but it remains to be seen whether Arsenal are prepared to commit to meeting the salary demands of the France youth international.

Which players could be leaving?

Arsenal hope for a successful summer of player trading to further bolster their transfer budget.

The club are likely to listen to offers for Gabriel Jesus, Christian Norgaard and Fabio Vieira. Decisions will also need to be made on the attacking trio of Gabriel Martinelli, Leandro Trossard and 19-year-old Ethan Nwaneri, who has been training with the England squad in Florida.

James McNicholas

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Chelsea

What has happened this week?

Perhaps the most significant thing to take place is incoming manager Xabi Alonso paying a visit to the club’s training ground along with the rest of the newly-appointed backroom staff. This included Sebastian Parrilla, Alberto Encinas, Benat Labaien and Ismael Camenforte Lopez.

Alonso does not officially start his Chelsea tenure until July 1, but this was an opportunity to check out what Cobham has to offer before the serious work begins.

How important is keeping or signing experience this summer?

The fact Chelsea are looking at players who are ready-made starters speaks volumes. It is not a case of signing someone older, necessarily, but an individual who is accustomed to the pressures of a busy fixture schedule as well as performing at a high level.

Chelsea are also looking for emotionally mature personnel, which is partly motivated by a desire to improve their disciplinary record. The club have finished bottom of the Premier League fair play table in two of the last three seasons.

As for the motivation for retaining players, there is a list of untouchables in the squad which includes Reece James, Cole Palmer, Moises Caicedo, Levi Colwill, Estevao Willian, Joao Pedro and Josh Acheampong.

The absence from this list of two of the most senior members of the squad in Enzo Fernandez and Marc Cucurella shows it is not written in stone that the longest-serving players are certain to stay regardless.

What positions/players are they looking at?

Chelsea want a minimum of two signings who can play from the get-go. That does not mean they will not make more transfers as the summer progresses, especially as replacements may need to be found for those who leave.

The priority is to acquire a centre-back and a versatile attacking player. They are working on three or four targets, but there is a recognition that the World Cup could have an impact on when deals are done.

Chelsea are one of the clubs keen on Aston Villa’s Morgan Rogers and are aware they face stiff competition for his signature.

The club have yet to confirm that an agreement has been reached for Strasbourg’s Valentin Barco, who has already confirmed he is leaving the Ligue 1 side. Sources in France expect the move to happen, though.

Chelsea did make a basic check on Ibrahima Konate’s situation after the defender opted to leave Liverpool rather than sign a new contract. However, the 27-year-old is expected to join Real Madrid.

The squad is already going to be strengthened by the arrival of at least two players. Winger Geovany Quenda is officially joining from Sporting CP, having agreed a £40million switch in March last year.

Goalkeeper Mike Penders, who was bought from Genk in 2024, is going to be involved for the first time. The Belgian, who is with his national team at the World Cup, has spent the last two seasons at Genk and on loan at Strasbourg respectively. Striker Emmanuel Emegha is also going to complete his move from Strasbourg, which was put in place last September.

Which players could be leaving?

Cucurella is the subject of interest from Atletico Madrid and Barcelona. Chelsea will not stand in the way of the left-back leaving Stamford Bridge should a club meet their asking price.

Fernandez’s future is also uncertain. Chelsea are not actively looking to sell the Argentina international but have put a £120million valuation on the midfielder.

One of the strikers behind Joao Pedro in the pecking order will be sold. It could be a choice between Liam Delap and Nicolas Jackson, who was on loan at Bayern Munich last season. Jackson is expected to be looked at in pre-season and does have a chance to be part of Alonso’s squad. Emegha, who remained at Strasbourg last season, is not guaranteed to be part of the 2026-27 plans yet.

Back-up keeper Filip Jorgensen wants to leave to get more game time and Chelsea are prepared to let him go for the right fee.

Defender Axel Disasi, who enjoyed a good loan at West Ham in the second half of the season, is on the ‘for sale’ list. Winger Tyrique George should also leave permanently, whether that is Everton triggering an option in the loan agreement they had with Chelsea in the January transfer window or going elsewhere.

A permanent departure for another loanee, David Datro Fofana, is also earmarked. The forward had spells at Fatih Karagumruk and Strasbourg during 2025-26.

Simon Johnson

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Liverpool

What has happened this week?

Liverpool appointed Andoni Iraola as their head coach and have already started making plans for a new era under the Spaniard.

Iraola wants to learn more about the staff in the weeks ahead before discussing players’ future and outlining plans for next season. The idea is to strengthen in this window and continue to monitor those who have been on the radar for some time.

Liverpool insist they have no interest in selling Rio Ngumoha, the 17-year-old winger who made his senior England debut over the weekend, after The Athletic revealed Bayern Munich’s interest.

Inter’s sporting director Piero Ausilio confirmed interest in Curtis Jones and Federico Chiesa explained how he may have to leave Anfield in search of regular minutes.

Which players could be leaving?

Liverpool do not want to lose Jones — the only Scouser in the team — but will reluctantly sanction a sale if he asks for a move and a suitable offer is on the table.

The 25-year-old is valued at around £35million, as he’s a versatile squad member who started 28 games in all competitions last season and is still young enough to step up another level in the years ahead.

Inter have shown the most interest so far and Ausilio told reporters on Sunday: “Curtis Jones, we are paying attention to him. We didn’t hide. We understand what the developments will be.”

Chiesa also said in an interview that Jones had asked him what it would be like to live in Italy.

The sticking point will be whether Inter are prepared to match Liverpool’s valuation.

Luca Stephenson is also attracting interest from a number of Championship clubs, including Bolton Wanderers. Discussions are ongoing but he’s expected to leave for around £700,000, with Liverpool adding a sell-on clause into any deal.

What type of players do Liverpool need for Iraola?

The priority will be wide, multi-functional attackers, first to replace Mohamed Salah, but also to cover for the injured Hugo Ekitike and provide an upgrade on Chiesa.

Liverpool are light on numbers up front and need reinforcements, as well as in midfield and at right-back. The hope is that Iraola will be able to get the best out of those already at the club, but clearly he needs additional help if the team are going to compete for trophies again next season.

Expect to see players under the age of 24, as well as a continued recruitment drive around players approaching their 18th birthday. Liverpool are keen to bolster their development squad with some of the best young talent across the world and are scouting heavily in that area to help prepare for the future.

What positions/players are they looking at?

The Athletic reported on June 4 that Liverpool had made contact with RB Leipzig in their pursuit of forward Yan Diomande.

The 19-year-old has been identified as the exciting young winger who can start to fill the boots left by Salah, although he won’t come cheap. Leipzig have consistently stressed that Diomande is not for sale and that it would take a bid in excess of €130million (£112.4m, $151.2m) to change that stance.

Another multi-functional attacker will also be needed and then there’s the midfield area to sort. Liverpool will have to weigh up whether to recruit a right-back or another centre-back who can cover if needed. With new signing Jeremy Jacquet joining captain Virgil van Dijk, Joe Gomez and Giovanni Leoni at Anfield, club sources currently stress that they have bigger priorities to address.

In short: frightening pace, excellent close control and plenty of end product.

Liverpool’s wingers struggled to provide those attributes last season. It is an area that needs urgent addressing in a faster and more vertical league. Andoni Iraola’s arrival in the dugout means they need to be prepared to sprint much more with and without the ball to dominate games.

Diomande can shift from zero to full throttle in seconds on either wing and beat players with raw pace, trickery or both, all with the ball stuck to his feet. Among wingers in Europe’s top five leagues to attempt 50 or more take-ons, his 55 per cent success rate ranked second. The 19-year-old’s decision-making is commendable, with eight key passes after a take-on in 2025-26. Only Manchester City’s Jeremy Doku (nine) managed more.

Bringing it together was his performance in front of goal. Diomande averaged just 1.9 shots per 90 but was accurate with 49 per cent of those attempts and was excellent at attacking balls into the box and in behind defences. He recorded a 23 per cent conversion rate to score 12 goals.

Diomande provides all the qualities Liverpool’s attack needs, even if it will cost an exorbitant fee.

Anantaajith Raghuraman

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Manchester City

What has happened this week?

City had a bid for Elliot Anderson turned down by Nottingham Forest, but discussions are continuing. England manager Thomas Tuchel says his players are free to complete transfers while at the World Cup, as long as it is not the day before or day of a game, and so any deal could still happen during the tournament.

Is there any world in which City would consider selling Haaland?

The fact Enrique Riquelme did not win the Real Madrid presidential election means that the potential for Haaland leaving this summer has been reduced dramatically, if it were ever possible in the first place.

Hypothetically, City would sell Haaland, like any player, if he really wanted to go and if the buying club brought in an offer that was deemed suitable. In reality, there does not seem to be any prospect of either of those things happening just yet.

What positions/players are they looking at?

City continue to look for a right-back, central midfielder and winger as a priority, with other positions, such as goalkeeper or left-back, becoming possible depending on how the summer pans out and which players leave.

Tottenham’s Pedro Porro is one right-back that City have been keeping tabs on, while Sandro Tonali has been considered as an alternative to Anderson.

Which players could be leaving?

Nico Gonzalez, Rico Lewis, Tijjani Reijnders, Omar Marmoush, Mateo Kovacic, James Trafford and Nathan Ake are among those who could leave this summer.

Josko Gvardiol is considering his options as he mulls a new contract offer from City as well as interest from Bayern Munich. Ruben Dias has also been linked to Real Madrid, which may gather pace now that Florentino Perez will continue as president and bring in Jose Mourinho as the new manager.

Sam Lee

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Manchester United

What has happened this week?

United reached an initial €40.5m agreement with Atalanta to sign midfielder Ederson, with a further €4.5m included in prospective add-ons.

Ederson is yet to undergo a medical and all parties intend to conclude the deal in July, potentially after Brazil’s involvement at the World Cup is complete. The 26-year-old received a late call-up to Carlo Ancelotti’s squad on Sunday, following the withdrawal of Roma’s Wesley through injury.

Rasmus Hojlund’s permanent €44m move to Napoli was confirmed. Including the fee Napoli paid to loan the Denmark international last August, United received a total €50m return.

Tom Heaton, United’s 40-year-old third-choice goalkeeper, signed a new one-year contract last week to extend his second spell at Old Trafford into its sixth season.

If Man Utd get Ederson, do they need other midfielders?

Absolutely. Even before Casemiro’s departure at the end of the season was confirmed, United were light in midfield following Bruno Fernandes’ redeployment as a No 10 under Michael Carrick.

Manuel Ugarte would leave another vacancy to fill were he to depart this summer, while no replacement was signed for Christian Eriksen upon his exit last year. Kobbie Mainoo is United’s only recognised central midfielder whose place next season is certain.

The expectation is that, in addition to Ederson, United will add at least one and perhaps two more reinforcements in the middle of the park.

What positions/players are they looking at?

Mateus Fernandes is high among the names being considered in midfield and United have held talks regarding fee and wages.

Despite their relegation from the Premier League, West Ham United intend to demand £80m for the 21-year-old but United are not prepared to meet that asking price and there is an expectation that, over time, that fee should fall. Paris Saint-Germain also hold an interest in Fernandes.

Elliot Anderson would be the number one target to partner Mainoo, and that strength of feeling should not be totally discounted, but Nottingham Forest’s asking price is regarded as too high. Manchester City saw a bid for Anderson rejected last week. Forest are said to want to eclipse the £105m deal Arsenal agreed for Declan Rice.

Alex Scott is another potential target. Bournemouth are keen to tie the 21-year-old down to a new contract after his excellent season, with his current deal set to expire in 2028. They would be open to including a release clause in any new contract. It is believed this figure could be around £75m. But, with two years left on his current deal, suitors might feel they have a chance to strike an agreement closer to £60m this summer. Bournemouth insist Scott is not for sale at any price and will do their best to renew him.

United are keeping tabs on several midfielders, having held talks on Carlos Baleba, Sandro Tonali and Adam Wharton among others.

United are also expected to strengthen their left-hand side, potentially at left-back. Key Old Trafford decision-makers are admirers of Lewis Hall, and although the 21-year-old is not a player Newcastle United are looking to sell, offers in the £50m region might test that resolve.

United are also weighing up options at left wing, with Patrick Dorgu’s position a matter of some debate. It is possible a signing arrives on the left of attack.

A centre-forward to support Benjamin Sesko could also arrive should Joshua Zirkzee go.

Bringing in an experienced deputy goalkeeper is on the agenda too, should Altay Bayindir depart as expected. United are weighing up an approach for Karl Darlow, who is a free agent this summer following a good campaign at Leeds United. The 35-year-old dislodged Lucas Perri to make 22 Premier League appearances in 2025-26.

Sam Johnstone, 33, is another option for United. Johnstone, who came through United’s academy, has two years left on his Wolves contract.

Both Darlow and Johnstone would count towards United’s homegrown quota. Tottenham Hotspur might present competition, being in the market for this position too.

Which players could be leaving?

Barcelona’s €30m option to buy Marcus Rashford permanently is set to expire on June 15, although Anthony Gordon’s €80m move to Camp Nou has cast doubt on the clause being triggered.

Rashford’s significant salary of more than £300,000 a week is likely to be an obstacle to a swift exit.

He would theoretically return to Carrington for pre-season training if no exit has been agreed.

Bayindir has interest from his native Turkey. Goalkeeper Radek Vitek, 22, is expected to want first-team football after winning Player of the Year accolades during his loan at Bristol City, but that could come on loan or in a permanent transfer away.

Ugarte and Zirkzee could also be sold.

Laurie Whitwell and Mark Critchley

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Newcastle United

What has happened this week?

Newcastle have moved close to securing their first summer signing, with Ewen Jaouen due to undergo a medical on Tyneside ahead of completing a move from Reims.

The 20-year-old goalkeeper attracted strong interest from across Europe, including from Real Madrid, but Jaouen is set to become Ross Wilson’s first senior acquisition as sporting director. The initial fee is believed to be less than £20m, despite reports in France claiming a €25m (£21.6m) plus add-ons deal was struck on Friday.

Although the highest level at which the France Under-21 international has played in senior football is Ligue 2, the French second division, Jaouen is regarded as one of the best goalkeeping prospects around. Newcastle were conscious of the lack of top-quality young goalkeepers available and so pushed strongly to land Jaouen now — even if he may not begin next season as first choice.

Jaouen is due to sign an initial four-year contract, which could extend to five based on appearances, and is part of a goalkeeper department revamp which has already seen Aaron Ramsdale return to Southampton following his season-long loan and John Ruddy released.

Nick Pope’s future is uncertain, with the 34-year-old’s situation linked to whether Newcastle recruit another senior goalkeeper. At least some inside St James’ Park still regard the acquisition of a No 1 as a priority, in which case Jaouen would likely begin 2026-27 as second choice or competing for the starting jersey.

Meanwhile, Newcastle confirmed that Fabian Schar, the centre-back, has signed a one-year extension, which is on reduced terms, and Mark Gillespie, the training goalkeeper, has also agreed a new deal.

Travis Hernes, the 20-year-old midfielder, completed a permanent move to Groningen following a successful loan spell.

Newcastle’s players are in demand — are they ready to rejuvenate their squad?

The message from those at the top of the club is that they are and the swift acquisition of Jaouen suggests they have made a positive start.

Anthony Gordon’s exit to Barcelona means Newcastle have lost their two best attackers over the past 10 months and strengthening an XI which has not been significantly improved upon since the summer of 2023 will require shrewd business.

Especially so given that it remains plausible Sandro Tonali leaves this summer. Newcastle effectively have the Italian tied down until 2030 and will demand a sizeable fee for the midfielder, meaning there are few clubs who are capable of extracting the 26-year-old from Tyneside, yet interest is anticipated and a succession plan has been drawn up inside St James’ to cover that eventuality.

Newcastle have already lost experience and proven top-level quality, and may lose more, but there is an excitement about the fresh youth and ingenuity they intend to inject into the squad dynamic. Reducing the average age of the player pool is important, but so too is diversifying the skill set available to Eddie Howe, the head coach, and evolving Newcastle’s in-possession approach.

Wilson has almost tied up his first senior signing as sporting director, but the incomings (and outgoings) the Scot must oversee this window have only just begun.

What positions/players are they looking at?

An attacker to replace Gordon is a top priority, with versatility to play in multiple positions across the frontline preferred.

Osasuna’s Victor Munoz is admired, though there is expected to be competition for his signature. Munoz has a €40m release clause and Newcastle have already held conversations regarding the 22-year-old’s availability, with the forward appearing to ideally fit the profile of attacker they are looking to acquire.

Union Saint-Gilloise’s Anan Khalaili has been watched, alongside Koln’s Said El Mala and Hoffenheim’s Bazoumana Toure. Newcastle made an offer to Swedish club AIK for Zadok Yohanna (though Newcastle deny this, while acknowledging contact was made), but the 18-year-old right winger opted to join Brighton & Hove Albion instead.

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

Newcastle will look to replace any midfielders who may leave, with Monaco’s Lamine Camara and Auxerre’s Kevin Danois among those watched.

Another goalkeeper may also arrive, with Newcastle’s long-term admiration of James Trafford well known. Brighton’s Bart Verbruggen and Lens’ Robin Risser have also been tracked.

Which players could be leaving?

Newcastle will listen to offers for Joe Willock, the 26-year-old midfielder who is entering the final 12 months of his contract, and the expectation is that he will depart.

Tonali may follow, even if Newcastle would ideally like to keep the Italy international. They will demand a high fee for Tonali, especially if the midfielder market becomes inflated should Elliot Anderson, the former Newcastle academy graduate, move for north of £100m.

Tino Livramento has attracted interest from Manchester City and Arsenal previously, though the 23-year-old’s injury problems have cast doubt over an exit.

Aston Villa hold an interest in Harvey Barnes, who is entering the final two years of his contract, but Newcastle are unlikely to entertain offers — beyond sizeable ones — for the 28-year-old, given Gordon has already left.

Should a further goalkeeper arrive beyond Jaouen, then Newcastle would not stand in Pope’s way if he asked to leave, with Premier League interest anticipated in the England international.

Odysseas Vlachodimos, the 32-year-old goalkeeper who spent 2025-26 on loan at Sevilla, is available, though another temporary move out may make more financial sense for Newcastle, given a sale may affect their SCR situation due to the fact he cost the club £20m during the PSR-affected summer of 2024.

Chris Waugh

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Tottenham

What has happened this week?

Spurs finally confirmed the signing of Andy Robertson from Liverpool. The Scotland captain will officially leave Anfield after a successful nine-year spell when his contract expires at the end of June. The Athletic reported in January that Spurs were interested in the defender but a move could not be agreed in that window. The 32-year-old will provide competition and cover to first-choice left-back Destiny Udogie, who has struggled with hamstring and knee injuries over the last couple of years.

In last week’s edition of the Dealsheet, The Athletic reported that Spurs were interested in signing Brighton & Hove Albion defender Jan Paul van Hecke. They then submitted an official offer for the 25-year-old centre-back, which did not match Brighton’s valuation. Talks are continuing.

There seems to be a focus on defence so far — is that important?

There is a lot of individual quality in Tottenham’s defence but they still conceded 56 goals in the 2025-26 season, which was the fourth-highest record in the top flight behind the three relegated sides. Robertson’s arrival addresses a glaring weakness in the squad. Udogie has only played 45 out of 76 league games in the last two seasons due to fitness issues. Djed Spence regularly deputises for Udogie but he is naturally right-footed and can look awkward cutting inside from the left wing.

Marcos Senesi has not been announced yet but he is set to sign a four-year contract and will provide Roberto De Zerbi with an extra option at left centre-back along with Micky van de Ven.

Spurs’ pursuit of Van Hecke is linked to the uncertainty around captain Cristian Romero’s future. There is a strong chance the 28-year-old will leave this summer but he is representing Argentina at the World Cup over the next few weeks. Spurs are being proactive by trying to secure Romero’s replacement before he is sold.

What positions/players are they looking at?

The defence is the immediate priority but, after that, Spurs will look at upgrading their options in central midfield and at left wing. They are in talks about signing Joao Palhinha from Bayern Munich permanently after an encouraging loan spell. The defensive midfielder scored five goals in 33 top-flight appearances, including the crucial winners against Wolverhampton Wanderers and Everton. Spurs are interested in signing Middlesbrough midfielder Hayden Hackney but his preference is to join Everton.

Which players could be leaving?

Romero looks set to be the most eye-catching departure but there is uncertainty around other senior players, including goalkeeper Guglielmo Vicario and this season’s top goalscorer Richarlison. Radu Dragusin could leave while Yves Bissouma and Ben Davies’ contracts expire at the end of the month.

There is a lot of interest in Will Lankshear from abroad and top clubs in the Championship. The 21-year-old scored 11 goals in 44 appearances on loan for Oxford United. Nothing has been decided about the striker’s future yet and he could be part of the first-team squad under Roberto De Zerbi next season.

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Barcelona

What has happened this week?

There are rumours surrounding Ansu Fati’s potential departure, with Monaco expected to make a move. Fati was loaned to the French club last season with an €11million release clause. The arrival of Anthony Gordon dashed Fati’s hopes of returning to Hansi Flick’s team. The Catalan club wishes to retain some control over the player, who scored 12 goals in France last season, and will keep 30 per cent of any future sale.

There were also meetings regarding Diego Kochen’s future. The 20-year-old goalkeeper is also set to leave shortly. The American has been the third-choice goalkeeper this season and has also played for the reserve team.

He has yet to make his first-team debut, but the club maintains that he is one of their prospects for the first-team goalkeeping position in the future. For this reason, both Barca and the player’s entourage wanted a move in the form of a loan to a top-flight club that would give playing time to a young goalkeeper – something that does not usually happen in this position.

He is unlikely to be the first-choice goalkeeper; Joan Garcia has impressed in his first season at Barcelona and looks set to be the team’s first-choice goalkeeper for the next decade, but they see Kochen as the future second-choice goalkeeper.

The solution will be that, despite having offers from clubs in the Spanish second tier, Kochen could be loaned out to Lyngby BK in Denmark.

How important is signing a Lewandowski replacement?

Paramount. Historically, Barcelona invested heavily in a centre-forward and rounded out the squad with a mix of cheaper signings and players from La Masia. Their last major signing was Robert Lewandowski, and they are set to devote every financial resource at their disposal to securing another star this summer.

Julian Alvarez is the dream. The club wanted to seal the deal before the World Cup, but realised that wasn’t going to happen. Barcelona made an initial offer to Atletico Madrid just over a week ago for €100million, and the Madrid club posted a series of messages on social media mocking the offer.

Not having Lewandowski or Ferran Torres at their best has hampered the team. Torres was set to take over from Lewandowski in that position, but the club’s active interest in signing a star player makes it clear that he is not the club’s first choice for that role. Torres’s contract expires in 2027.

If the player Barca want for that position cannot be signed, there are voices within the club who are increasingly seeing another solution as the clearest option: that Lamine Yamal ends up playing in midfield.

What positions/players are they looking at?

Right now, Alvarez is the focus of all Barcelona’s attention. They want a centre-forward, and they want him.

They also wanted to sign a left-sided centre-back, but that depends on a major sale of centre-backs this summer. They aren’t actively looking to offload either Jules Kounde or Ronald Araujo, although they would accept a substantial offer if one came in. If no players leave the heart of the defence, given Gerard Martin’s performance this season, they won’t be looking for anyone else.

Another name is Bernardo Silva. He has emerged as a transfer opportunity as he would arrive as a free agent. The problem? There is a surplus of midfielders, and players who are key to Flick’s plans. If Bernardo were to arrive, that would mean young players who need minutes to gain more experience at the top level, such as Fermin Lopez, Marc Bernal or Gavi, would see less playing time. And Flick is very fond of all three.

Furthermore, they would first have to offload Marc Casado. If no midfielder leaves, the club sees it as difficult to bring Bernardo in.

Which players could be leaving?

Two other players for whom a move is likely to be sought are Marc Casado, who has not featured under Hansi Flick this season, and Roony Bardghji.

Casado wants to stay at the club, but at the start of the 2025-26 season, he was already told he wouldn’t be getting any playing time, and he has featured very little. He is one of the players most attached to the club because he is Catalan and came through the youth ranks, but he would accept a move if he realised he wasn’t in Flick’s plans.

Roony has asked to go out on loan after realising he shares a position with Lamine Yamal and his role has diminished over the course of the season. Being left out of Sweden’s World Cup squad has taken its toll on him and has made him even more keen to get more playing time, even if it’s outside the club.

They must resolve the delicate situation with Marc-Andre ter Stegen as well. He will return to the squad this summer having recovered from a serious tear to his left hamstring. The club does not count on him, but he has a high-salary contract running until 2028. Both parties still need to sit down and discuss the future, but it is something to bear in mind.

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Real Madrid

What has happened this week?

The better question might be: what hasn’t happened? Florentino Perez was re-elected as president on Sunday with 65 per cent of the vote, comfortably ahead of challenger Enrique Riquelme.

During the celebrations following Madrid’s first contested presidential election in 20 years, Jose Mourinho appeared in a video message and replied, “Yes, of course,” when asked whether he would become the club’s next head coach. Perez later publicly confirmed that Mourinho will take charge.

As Benfica officially announced last week, Madrid have committed to paying the €15million release clause required to free Mourinho from his contract. The Portuguese coach is expected to arrive in Madrid in the coming days before being formally unveiled later this week.

Madrid are also expected to formally announce the arrivals of Liverpool centre-back Ibrahima Konate on a free transfer and Inter full-back Denzel Dumfries after agreeing to trigger his €20m release clause. Perez publicly confirmed both deals during the election campaign.

Riquelme’s plans, meanwhile, have effectively been shelved following his election defeat. Up until the day before the vote, members of his team were still trying — unsuccessfully — to secure a public endorsement video from Jurgen Klopp.

Now the election is over, what are the plans for the market?

Attention now shifts to the player Perez appeared to tease during an interview on Spanish television programme Horizonte last Thursday. Perez said: “Next Tuesday I will make an offer to an important Champions League club for a great player. It would be the biggest transfer fee Real Madrid have ever paid. It would be €150m, at least.

“Olise is a great player, but it isn’t Michael Olise. Doku? Also a very good player. But it’s not him. If we’re spending €150m, it should be someone from the very top level. It isn’t Haaland, and the first thing we’ll do is speak to the club.”

Senior club sources insist Madrid have the financial capacity to complete a deal of that magnitude, although they declined to discuss specific targets.

Despite Perez’s comments, and while club sources are not confirming the identity of the player, several sources familiar with Madrid’s thinking and with Mourinho’s plans believe Bayern Munich winger Olise is one of the names being discussed internally after impressing during Bayern’s Champions League quarter-final against Madrid.

However, Bayern president Herbert Hainer recently told Bild: “If Florentino Perez wants to send us a bid for Olise — which has not happened so far — he can save himself the trip. Michael Olise is an FC Bayern player with a long-term contract. We are not a selling club.”

Another player linked by several Spanish outlets is Atletico Madrid forward Julian Alvarez, who previously held talks with Barcelona. Sources close to the player and Atletico told The Athletic they have not been informed of any Madrid approach, while a senior Atletico source said the club have no intention of allowing him to join their city rivals.

What positions/players are they looking at?

Madrid continue to assess the market for centre-backs and left-backs, while the club are also exploring options in midfield and on the right wing.

The club must decide what to do with Como midfielder Nico Paz. Madrid retain a buy-back clause worth around €9m this summer. Sources at Como say they have heard the player would prefer to remain in Italy, and Madrid have yet to make a final decision and wanted to postpone discussions until after the election.

Another player worth keeping an eye on is Osasuna and Spain winger Victor Munoz, for whom Madrid also retain a purchase option worth €8m.

One player whose chances of joining had already fallen significantly down Madrid’s shortlist is Manchester City midfielder Rodri. During the campaign, Riquelme claimed he had reached an agreement with the Spain international, but club senior sources have played down this option.

Which players could be leaving?

Further departures are expected, according to senior club sources, as Mourinho’s arrival is likely to bring a shift in sporting priorities. Those exits would help fund some of Madrid’s incoming business.

Madrid Castilla’s (Madrid B) failure to secure promotion to the Segunda Division is likely to accelerate the departures of several academy players seeking regular senior football. Attacking midfielder Cesar Palacios is among those expected to attract interest.

Como have been one of the clubs most active in monitoring Madrid’s academy talent and are admirers of several prospects, including Palacios, defensive midfielder Thiago Pitarch and striker Gonzalo Garcia. However, sources at Como cautioned that no deal is currently advanced.

In Garcia’s case, his representatives are exploring opportunities that would offer regular first-team football, particularly with Endrick set to return from his loan spell at Lyon and competition for minutes expected to increase.