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.
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.
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
There is interest from a Premier League club in Paulo Dybala (Isabella BONOTTO / AFP via Getty Images)
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.
Arsenal have enquired about Yildiz (Marco Luzzani/Getty Images)
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 Norgaardand 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
