Liverpool advance on Barcola as Arsenal target Alvarez in transfer frenzy
The final week of the window has turned into a tangle of big names, bigger fees and a handful of clubs trying to solve three problems with one deal.
Liverpool’s Barcola gamble – and the Gakpo question
Liverpool’s long pursuit of Bradley Barcola has taken a significant step forward. Fresh talks with Paris Saint‑Germain have gone positively, and voices inside the French champions now expect the winger to leave before the deadline. The price, though, is enormous: PSG want well over £110m for the France international, a figure that already scared Arsenal away.
Liverpool’s need out wide is obvious. Two bids for Brighton’s Yankuba Minteh have been rejected, but the intent is clear – they want another winger and they want one now.
To make Barcola possible, one sacrifice looms into view. Cody Gakpo. Manchester City retain a strong interest in the Dutchman and Tottenham have also been linked. If Liverpool cash in, it would be one more move in a market that increasingly resembles a housing chain: one sale unlocks another, which unlocks another again.
Behind the scenes, the pressure is building. Liverpool’s hierarchy, led by sporting director Richard Hughes, go into their customary early‑September review knowing one thing: the squad has to be bigger. Not just better. Bigger.
The problem? Holes everywhere, money nowhere near as plentiful. As one source put it, “it’s like they’re in a boat with six different leaks but which one do you plug?” Spend heavily on Barcola and a wide role is covered, but other areas stay thin. Hold back the cash and the squad remains lopsided for Andoni Iraola’s high‑intensity football.
Arsenal chase Alvarez to finish their summer
Across north London, Arsenal are trying to land a statement forward to round off a productive summer. Julian Alvarez is the target they believe can elevate their attack as they look to defend their Premier League title.
The Argentine, now at Atletico Madrid, is understood to be open to the move. Earlier in the window he had leaned towards Barcelona, but Arsenal’s persistence has kept them firmly in the race.
Alvarez’s future is tangled up with other deals. Atletico Madrid are in talks with Chelsea over a loan move for Nicolas Jackson, potentially with an obligation to buy. If Atletico secure Jackson, it would smooth Alvarez’s path out of the club – and Arsenal are waiting to pounce.
Barcelona remain in the conversation, but Arsenal sense an opportunity to strike late and decisively.
Man City rip up midfield and reload
Manchester City, meanwhile, are in the middle of a radical midfield rebuild under Enzo Maresca and are throwing huge money at the process.
They have agreed a €100m deal with Lille for 18‑year‑old Ayyoub Bouaddi. City will pay an initial €95m, with a further €5m in add‑ons, for the Morocco international. Bouaddi will become the third most expensive signing in the club’s history, behind only Elliot Anderson and Jack Grealish.
Bouaddi joins a new‑look engine room after the exits of Bernardo Silva, Rodri and Tijjani Reijnders. Anderson arrived for £116m, and City are not finished yet.
They have already sold Savinho to Tottenham in a deal worth £85m – a record sale for City, surpassing the £82m received for Julian Alvarez when he left for Atletico Madrid two years ago. Spurs will pay £75m up front, £5m in guaranteed add‑ons and a possible extra £5m.
City’s recruitment team are still active. They are interested in Liverpool’s Cody Gakpo and could yet return to the idea of signing Chelsea’s Enzo Fernandez, a move that would instantly become one of the defining transfers of the summer.
Newcastle find their Bruno replacement
Newcastle United have moved to plug the gap left by Bruno Guimaraes in midfield. They have agreed a £52m deal with Manchester City for Nico Gonzalez, who is set to become their biggest signing of the summer.
The 2025 Carabao Cup winners will pay £48m initially, with £4m in add‑ons. City stand to make a small profit, having signed Gonzalez from Porto in January 2025 for £49m.
At just 24, Gonzalez will actually be the oldest player Newcastle have brought in this window, a deliberate shift towards experience after the departures of both Guimaraes and Sandro Tonali. The Spaniard is undergoing a medical and is being lined up to steady a midfield that has lost two of its most influential figures.
Chelsea clear the decks – and eye a marquee forward
Chelsea’s own reshaping continues at pace. Nottingham Forest have agreed a club‑record £50m deal to sign striker Liam Delap. Chelsea signed Delap for £30m, but he struggled badly in his first season, scoring just two goals in 41 appearances and losing his No 9 role to Joao Pedro.
A £20m profit on a misfiring forward underlines Chelsea’s determination to be ruthless. The 23‑year‑old is due to complete his medical on Wednesday.
Nicolas Jackson is also on the chopping block. Atletico Madrid have opened talks over a loan with a possible obligation to buy, while Aston Villa are considering a £65m move. Chelsea would prefer a straight sale as they try to trim the squad before deadline day.
If enough outgoings are completed, Chelsea are prepared to move for a versatile attacker. Marcus Rashford is among the options that have been discussed, a potential headline arrival if Manchester United decide to listen.
Manchester United: Baleba in, Balde targeted
At Old Trafford, Manchester United have completed a sweeping overhaul of their midfield. Carlos Baleba has arrived from Brighton for an initial £65m, with a possible £5m in add‑ons, taking their spend on midfielders this season to £148m.
The Cameroon international has signed a five‑year deal and believes he can develop under Michael Carrick, himself a former elite midfielder. United now turn their attention to the left‑back slot.
Alejandro Balde has emerged as the primary target. According to Spanish outlet Marca, the Barcelona defender has decided he wants to leave after Joao Cancelo’s arrival and his omission from the squad for the game against Elche. United are seen as frontrunners, but they favour a loan rather than the permanent deal previously mooted.
If Barcelona agree to that structure, United could solve a long‑term problem position without committing another huge fee.
Villa braced for Watkins and Martinez exits
At Aston Villa, the team sheet told its own story. Ollie Watkins and Emi Martinez were both absent from the matchday squad, intensifying speculation that the pair are closing in on exits.
Watkins’ situation is the most advanced. The England striker is understood to be very close to a move to Saudi Arabian side Al‑Hilal, a switch that would leave a sour taste at Villa Park after what had been a mutually beneficial relationship between player and club.
Martinez’s future is less clear, but the timing of his absence has only added to the sense that Villa could be forced into a late scramble in the market.
The clock is ticking, the numbers are eye‑watering, and the dominoes are lined up. One big sale, one green light, and this already wild window could yet explode in its final days.
