Liverpool Pursue Barcola as Arsenal Target Alvarez in Transfer Frenzy
The final week of the window has turned into a chain reaction. One move nudges another, fees spiral, and suddenly half of Europe’s forward lines look up for grabs.
At the centre of it all: Liverpool, Arsenal and a Paris Saint-Germain winger who now looks destined to move.
Liverpool’s Barcola chase gathers pace – and Gakpo risk
Liverpool’s long pursuit of Bradley Barcola has flickered back into life. Fresh talks with Paris Saint-Germain have gone well, with figures inside the French club now expecting the winger to leave this summer.
PSG’s stance on price has not softened. The Qatari-owned club want well in excess of £110m for the France international, a valuation that already drove Arsenal away. Liverpool, though, remain intent on trying to prise him out of Paris.
To make it work, something has to give. Cody Gakpo could be the sacrifice.
Manchester City retain a strong interest in the Dutch forward and Tottenham have also been linked. A sale of Gakpo would go a long way to covering a Barcola deal, turning Liverpool into the latest club locked into a transfer chain where one departure funds the next big arrival.
While they chase Barcola, Liverpool have already hit a wall elsewhere. Two bids for Brighton’s Yankuba Minteh have been rejected, with the Anfield hierarchy still determined to add wide options before the deadline.
Inside the club, the urgency is clear. Liverpool’s football leadership, headed by Richard Hughes, go into their traditional early-September review knowing the squad simply has to be bigger. Andoni Iraola’s high-energy football demands depth. Right now, this is a thin, oddly shaped group.
As one source put it, it feels like being in a boat with six leaks and only enough material to plug one or two. Strengthen the wings and they are short in another zone. Spend on midfield and the forward line looks light. Every move has a cost.
Arsenal circle Alvarez to finish a ruthless summer
Across north London, Arsenal are hunting what they see as the final piece of a title-defending squad.
Julian Alvarez is the target. The Atletico Madrid forward, previously a record sale for Manchester City at £82m, is now being lined up to spearhead Arsenal’s attack and add yet more firepower to a side that already won the Premier League.
Alvarez had initially preferred a move to Barcelona, but he is now said to be open to Arsenal’s proposal. If the deal is pushed over the line, it would cap a ruthless summer of incomings at the Emirates and deepen an already formidable front line.
Any move for Alvarez is tangled up in other business. Atletico Madrid are exploring a loan for Chelsea striker Nicolas Jackson, potentially with an obligation to buy, and Aston Villa are also weighing up a £65m deal for the Senegalese forward. Atletico landing Jackson would make it far easier to sanction Alvarez’s exit – and that, in turn, could free Arsenal to move.
Manchester City rip up their midfield – and eye Liverpool again
Manchester City are reshaping their squad with the kind of financial force only they can muster.
They have agreed a €100m deal with Lille for Ayyoub Bouaddi, the 18-year-old midfielder who will become the third most expensive player in the club’s history. City will pay an initial €95m with a further €5m in add-ons for the Morocco international.
Bouaddi arrives as part of a sweeping midfield overhaul after the departures of captain Bernardo Silva, Rodri and Tijjani Reijnders. He will join £116m signing Elliot Anderson in a new-look engine room, with only Anderson and Jack Grealish ever costing City more.
Out wide, City have already cashed in heavily. Savinho has joined Tottenham in a deal worth £85m, becoming City’s record sale and one of the three most expensive players in Spurs’ history, alongside Sandro Tonali and Mateus Fernandes. Tottenham will pay £75m up front, with £5m of guaranteed add-ons and a further £5m potentially to follow.
City are not done. They remain keen on Liverpool’s Gakpo and could yet revive a move for Chelsea’s Enzo Fernandez, a deal that would instantly become one of the stories of the summer. The champions are spending big, selling big and still finding room to keep the market on edge.
United close midfield rebuild as Balde angle opens
On the other side of Manchester, United have completed their own midfield reset.
Carlos Baleba has signed from Brighton for an initial £65m, with a possible £5m in add-ons, taking United’s midfield spend this season to £148m. The Cameroon international has agreed a five-year deal and believes he can grow under Michael Carrick, a manager who knows the position as well as anyone.
With the centre of the pitch now addressed, attention has swung to left-back. Alejandro Balde has become the key name.
Spanish outlet Marca report that Balde has decided he wants to leave Barcelona, a significant boost for United. Joao Cancelo’s arrival at Camp Nou and Balde’s omission from the squad for the game against Elche have shifted the defender’s stance on staying and fighting for his place.
United are said to be frontrunners, but their preference is for a loan rather than the permanent deal that had previously been discussed. That stance will define whether this opportunity becomes a headline or just another near miss.
Newcastle replace Guimaraes with City’s Gonzalez
Newcastle, Carabao Cup winners in 2025, have moved decisively to plug the gap left by Bruno Guimaraes.
They have agreed a £52m deal with Manchester City for Nico Gonzalez. The fee includes £48m up front and a possible £4m in add-ons, giving City a small profit on a player they signed from Porto for £49m in January 2025.
At just 24, Gonzalez will actually be the oldest signing Newcastle have made this summer, a deliberate shift towards adding experience after the exits of Guimaraes and Sandro Tonali from midfield. He is undergoing a medical and is set to become their marquee addition in the middle of the park.
Chelsea cash in as Delap and Jackson draw bids
Chelsea’s clear-out is gathering momentum.
Nottingham Forest have agreed a club-record £50m fee for striker Liam Delap. Signed for £30m, the former Ipswich forward has struggled badly at Stamford Bridge, scoring just two goals in 41 appearances and losing his No 9 role to Joao Pedro. Chelsea will bank a £20m profit if the move is completed, with Delap expected to undergo a medical on Wednesday.
Nicolas Jackson is also on the market. Chelsea would prefer a permanent sale as they look to trim the squad and raise funds, but Atletico Madrid are pushing for a loan with a potential obligation to buy. Aston Villa are in the frame too, with a £65m deal being discussed.
Chelsea are open to signing a versatile attacker if they can move enough players out. One name that has been broached internally is Marcus Rashford, whose future at Manchester United remains the subject of growing speculation. Any serious move there would ignite another major storyline in a window already full of them.
Villa face Watkins and Martinez uncertainty
Aston Villa’s preparations have been overshadowed by two notable absentees.
Ollie Watkins and Emi Martinez were both missing from the matchday squad, fuelling talk that the pair could be closing in on exits. Watkins’ situation is particularly sensitive. A move to Saudi Arabian side Al-Hilal is thought to be very close, a transfer that would reshape his legacy at Villa Park.
Watkins has been central to Villa’s resurgence, and a late switch to Saudi Arabia would leave Unai Emery’s side scrambling for a replacement. Martinez, a World Cup winner and emotional leader in the dressing room, would be just as hard to replace if his situation develops in the same direction.
Richard Jolly has already argued that Watkins’ decision to head for Saudi Arabia risks tarnishing what had been a mutually beneficial relationship between player and club. Villa were good for him. He was very good for them. Now, both may be left wondering what might have been.
A window built on chains
Everywhere you look, one deal leans on another. Barcola’s price hangs over Gakpo’s future. Jackson’s destination could decide Alvarez’s next step. City’s sales fund their rebuild and ripple out through the rest of the league.
With eight days to go, Liverpool still need numbers, Arsenal still want a statement forward, City are still spending, and United are still trying to fix their full-back problem.
The chain is moving. The question now is who blinks first – and who is left scrambling when the market finally slams shut.
