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

Welcome to the third January 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 the winter transfer window, which for many leagues closes on February 3. This includes the players who could arrive and the ones on their way out across the Premier League and beyond.

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 last week’s edition, we covered the impact of Gabriel Jesus’s injury on Arsenal’s transfer plans, Jhon Duran’s future and AC Milan’s plans. This week, we look at why Marcus Rashford could stay at Manchester United and updates on Arsenal, Chelsea, Manchester United, Manchester City, 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 club or player you want to read about.

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David Ornstein’s One To Watch

Marcus Rashford last featured for Manchester United in a Europa League game on December 12 and his future has been among the biggest talking points of the January transfer window.

There is still no certainty as to whether he will be leaving or staying at Old Trafford and the complexity of the situation means it could go all the way down to deadline day on February 3.

United have never publicly closed the door to Rashford being reintegrated — he is training with the squad — but they seem ready to let him leave if a satisfactory deal can be struck.

Any switch must also be right for the 27-year-old forward, of course, and if that is not the case he could yet end up remaining with United. His side insist he is fit and available for selection.

Rashford has not played for Manchester United since early December (Darren Staples/AFP via Getty Images)

Should he go, Rashford is thought to favour a move to Barcelona — though it is complicated.

Barcelona can afford to sign him, thanks to the sale of VIP seating at the redeveloped Camp Nou satisfying the requirements of La Liga’s 1:1 rule.

However, there is another consideration for Barcelona; the fact they want to shift players out before potentially bringing anyone else in.

Borussia Dortmund remain keen but they have concerns over the financial viability and appeal to Rashford of a team currently struggling. The likes of AC Milan now seem improbable, too.

An issue is Rashford’s wage — above £325,000 per week — and how much of it the interested parties, plus United, are prepared to cover.

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Would Rashford fit in at Barcelona?

Rashford’s direct style that focuses on pushing the pace and thriving in one-on-situations would fit well into Hansi Flick’s high-octane setup. He thrives when given the opportunity to use his pace to get to the byline, though the quality of his crossing is inconsistent. His best moments have come with an attacking left-back alongside him and he could develop an encouraging partnership with Alejandro Balde, who has had a solid season. Rashford’s positional versatility could prove useful too.

Issues with the 27-year-old’s fit at Barcelona come to light when considering the out-of-possession demands of Flick’s system. Among La Liga forwards, Raphinha, who has reinvented himself on the left wing under Flick, boasts the second-most possessions won in the attacking third with 16, while Lamine Yamal leads the league (alongside Real Betis forward Abde Ezzalzouli) on 17. Their work has been crucial in a system that often leaves space for opponents to exploit on the counter.

Rashford, on the other hand, has attracted criticism for his off-the-ball work at United. His pressing is good in spurts, but he is not engaged consistently enough to stop opponents from bypassing him.

Anantaajith Raghuraman

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What else we’re hearing…

• Evan Ferguson is due back in training this week, at which stage Brighton will make their decision on what to do with the striker this window and whether to loan him out or not. Brighton’s form has improved, which might make them more inclined to let him go out on loan to get more game time. There is interest from West Ham, Bournemouth and European teams. Any deal for Ferguson might run late into the window — and he might yet stay at Brighton. David Ornstein
• Manchester United are in talks to sign left-back Patrick Dorgu from Lecce. United representatives may travel to Italy in the coming days as talks continue. Nothing is agreed yet but United are looking to line up options ahead of making decisions on ins and outs this month. Dorgu, 20, is a possibility for the Old Trafford club, who need more players suited to Ruben Amorim’s preferred 3-4-2-1 formation. David Ornstein
• Chelsea are now willing to loan out Renato Veiga if playing and economic conditions are met for the left-back. Marseille have joined the race, with Borussia Dortmund also interested in the 21-year-old. Veiga has made seven Premier League appearances for Chelsea this season. Simon Johnson
• Manchester City are considering whether to continue their January recruitment by adding a midfielder to manager Pep Guardiola’s squad. They are exploring multiple options to bolster and among them is Douglas Luiz of Juventus, who was on City’s books between 2017-19. The 26-year-old Brazil international joined Juventus from Aston Villa last summer but has struggled to make an impact, playing only 16 times so far. City would be looking to acquire Luiz on loan until the end of this season, with no obligation to buy, while at present their Italian counterparts prefer a sale or loan with an obligation to buy. It would only work for the Premier League club, therefore, if Juventus’ stance changes before the February 3 transfer deadline. Luiz is not City’s only target but he is in their thinking — should they decide to strengthen in his position. David Ornstein

• Talks continue for Emmanuel Latte Lath of Middlesbrough over a move to Atlanta United. They still need to see whether an agreement can be reached. But clubs in Europe and the Premier League are also monitoring the situation with a view to potentially rivalling Atlanta for his signature if a deal with them cannot be done. Talks with Atlanta are ongoing, but given no deal has been agreed, it remains an open situation. David Ornstein
• West Ham United submitted an offer worth £57million to sign Jhon Duran — but it is expected to be rejected by Aston Villa. Villa have no intention of selling the 21-year-old Colombia international in this transfer window and recently extended his contract until 2030, amid significant interest from numerous suitors. West Ham also made an offer for Duran in the summer. He has since scored 12 goals across all competitions for Villa, but started just seven matches. David Ornstein

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Can clubs register new signings for the Champions League before the end of the group stage?

Any team playing in the Champions League will not be able to register new players until the league phase is over.

Before the knockout stage begins, however, they can register up to three new players, but have to do so by 11pm (GMT) on February 6 and their squad size will still be limited to 25, meaning other players would have to be left out of the overall list.

And if a club’s January signing has already featured in the Champions League this season, then they are still allowed to play in the competition for their new team.

Dan Sheldon

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What has happened this week?

This week, Arsenal had confirmation Gabriel Jesus had suffered an anterior cruciate ligament injury and will most likely miss around nine months of football.

Has Jesus’ injury changed Arsenal’s thinking in terms of signings?

It has. Before Jesus’ injury, most at Arsenal considered a new arrival unlikely. This new injury blow — on top of Bukayo Saka’s absence due to hamstring surgery, which Arteta now admits could be as long as three months — has left Arsenal looking very light.

What positions/players are they looking at?

Arsenal are open to strengthening either at No 9 or in the wide positions. Jesus’ injury leaves a huge burden on Kai Havertz as Arsenal’s sole centre-forward, so a striker seems the obvious move. That said, the addition of a winger could free Leandro Trossard up to reprise his role as a false nine.

Benjamin Sesko remains a long-term target for the centre-forward role, and Arsenal are one of several Premier League clubs staying informed of his situation. The indications at this stage are that it would be extremely difficult (and expensive) deal to do in January. Sesko had planned to see out the season in Germany, and Leipzig would want a significantly higher fee to sell him this month, especially as any deal would likely leave them with little time to source a replacement.

Given Arsenal’s ongoing interest in the likes of Sesko or Alexander Isak as potential summer transfers, the club may pursue a loan deal for a forward in January.

Arsenal are also targeting a deal to sign Real Sociedad’s holding midfielder Martin Zubimendi — but that would be one for the summer rather than this month.

Which players could be leaving?

The confirmation of Zubimendi as a serious target raises considerable doubts over whether Arsenal intend to extend the contracts of either Thomas Partey or Jorginho, both of which expire this summer.

In this window, the emergence of Myles Lewis-Skelly at left-back could open up an opportunity for one of Kieran Tierney, Oleksandr Zinchenko or Jakub Kiwior to leave in this window.

Tierney seems most likely — if he can agree a pre-contract deal with Celtic, they may try to expedite the deal to sign him in January.

Academy defender Ayden Heaven has been in Germany exploring a possible move to Eintracht Frankfurt. The 18-year-old’s scholarship terms expire at the end of the season. He has been offered pro terms with Arsenal, but is still assessing his options.

Arsenal have recouped some cash this month via the transfer of Mika Biereth to Monaco, for an initial €13million (£10.8m, $13.4m) with an additional €2m in potential add-ons. Arsenal sold Biereth to Sturm Graz last summer and had a sell-on clause for him that will earn them in the region of £2m.

James McNicholas

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Chelsea

What has happened this week?

Chelsea strengthened their defensive options by initially triggering a break clause in Trevoh Chalobah’s season-long loan at Crystal Palace.

The 25-year-old, who was not even taken on the pre-season tour to America in July, will help provide cover for the rest of the season with Wesley Fofana and Benoit Badiashile currently ruled out with hamstring injuries.

Chelsea also made their first January signing by securing a pre-agreement with sister club Strasbourg for defender Mamadou Sarr worth around €14million. The 19-year-old will join in the summer.

Chelsea also enquired about Bayern Munich forward Mathys Tel and in return told the Bundesliga club they will have to pay around £65million to sign Christopher Nkunku. The club also expressed initial interest in Manchester United’s Alejandro Garnacho and Jamie Gittens of Borussia Dortmund.

The latter also continued to negotiate with Chelsea over a loan deal for Renato Veiga.

Meanwhile, under-21 winger Zain Silcott-Duberry left permanently to join Bournemouth. There was no fee involved but sums can be generated if add-ons are triggered, plus a sell-on clause has been included.

Chelsea seem to be more active than planned – why?

It was never a case that Chelsea wouldn’t do anything in the window. They have been open to the idea of making a signing if the right opportunity presents itself from the get-go but are also keen to get some groundwork done with any summer move in mind. The deal for Sarr is reminiscent of the Malo Gusto signing from Lyon in 2023.

There have also been unexpected factors to contend with that have forced them to consider their options. The injuries to Fofana and Badiashile brought forward discussions over who to bring in at centre back. Marc Guehi was looked at but that is now on the backburner until the next window when it will be cheaper. Sarr is already completed.

Mykhailo Mudryk is waiting for the result of his B sample after testing positive for the banned substance meldonium. Both Chelsea and Mudryk have categorically made clear the player has never “knowingly used” any banned substances, but he is at risk of a ban which is a major factor why Chelsea seem to be suddenly identifying wingers to recruit.

The main priority has always been to get fringe players out of the squad like Ben Chilwell. But, inevitably, teams will also make an attempt to get personnel that the club were perhaps not initially looking to let go like Veiga.

What positions/players are they looking at?

As detailed above, a striker and winger are in their thoughts for 2025, but it does not necessarily mean one will be bought this month.

As far as forward options go, Bayern Munich have ruled out selling Tel in January. Sporting director Christoph Freund has said publicly they want to keep the 19-year-old. Ipswich Town striker Liam Delap is on Chelsea’s list of long-term targets.

In the winger department, Chelsea are aware Manchester United are prepared to sell Garnacho in January to raise funds. They admire Gittens too but Dortmund do not want to sell mid-season. There are others on the list including Athletic Club’s Nico Williams.

A bid for Guehi has been postponed until the next window. The England international will have just one year left on his contract then and be a lot cheaper.

The prospect of midfielder Lesley Ugochukwu being recalled from his loan at Southampton is unlikely now he is starting to play more regularly under new coach Ivan Juric. One player who is being lined up to return from loan is Caleb Wiley. He is currently injured and using up an international loan spot that could be given to someone else before the February 3 deadline.

Which players could be leaving?

Cesare Casadei is being pursued by a pair of Italian clubs. Neither club have matched Chelsea’s asking price. Chelsea have revised their asking price for the midfielder to €15million. One of the two clubs have come in €2m short, but are trying to make up the difference with the addition of a sell-on clause.

Marseille have joined Dortmund in trying to sign Veiga on loan for the rest of the season. Chelsea are now more open to the idea but will only sanction a departure if playing and economic conditions are met. Chelsea have had proposals from several other clubs, including to buy permanently. The player’s preference is to go on loan to get more playing time and return to Stamford Bridge for next season.

Chelsea are still prepared to loan midfielder Carney Chukwuemeka to Strasbourg or Dortmund. A Premier League club expressed an interest on Monday too.

Everton have added Chilwell to their list of options, but a loan is not possible because Armando Broja is already at Goodison Park and there are no plans to recall him at this stage despite suffering an ankle injury. Other clubs from the Premier League and outside of England are also keen.

Chelsea have also had permanent and loan offers for defender Axel Disasi from Premier League teams and clubs in Europe. Bayer Leverkusen are among them. He will be allowed to go if the deal is right.

Chelsea are ready to sell Nkunku as long as someone meets their valuation of around £65million. Bayern want the player but that is more with the summer in mind. Meanwhile, midfielder Kiernan Dewsbury-Hall is liked by West Ham.

Highly-rated under-21 midfielder Sam Rak-Sakyi, who made his debut for the first team this season, is wanted on loan by Coventry City and has also had approaches from clubs in Europe. Chelsea are deciding whether it would be better for him to continue his education with them or to go elsewhere.

Another bright prospect — Leo Castledine — is going to see out his loan at Shrewsbury Town. Chelsea had considered recalling him to go to another team but like the fact he is playing regularly.

Simon Johnson

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What has happened this week?

Not a lot. Liverpool had been monitoring the situation of Napoli winger Khvicha Kvaratskhelia, but ultimately they didn’t rival Paris Saint-Germain for his signature. The Georgia international joined the French champions for an initial fee of €70million plus add-ons.

There was speculation about a possible move to the Saudi Pro League for Darwin Nunez, but Liverpool have not received any bids and they are not looking to off-load him. The Uruguay attacker, who was Liverpool’s match-winner from the bench at Brentford on Saturday, is determined to stay and fight for more game time.

Liverpool have been linked with 19-year-old Greek striker Stefanos Tzimas, who is shining in Germany’s second tier for FC Nurnberg on loan from PAOK. However, Liverpool have no interest in pursuing a deal for him.

Academy midfielder Tom Hill, who made a solitary senior appearance for Liverpool against Aston Villa in the Carabao Cup in 2019, has been finalising a permanent move to League Two outfit Harrogate Town.

With Kvaratskhelia moving to PSG, does this change Liverpool’s plans?

No, Liverpool’s position throughout the January window has been that they are happy with the current options in the squad, but are ready and waiting to react if there’s a deal to be done that makes sense for the long term. So far, one has not materialised.

It was no surprise they did not pursue Kvaratskhelia given the left-sided attackers they already possess and the financial outlay that would have been required. Arne Slot already has Cody Gakpo and Luis Diaz, who have scored 12 goals each this season, in that position.

What positions/players are they looking at?

Slot has responded to questions about potential incomings in January by insisting Liverpool have sufficient strength in depth. Diogo Jota and Joe Gomez are the only members of the senior squad currently sidelined by injury.

Left-back has been an area of concern at times with Andy Robertson enduring a difficult spell. Kostas Tsimikas, who was picked ahead of Robertson at Brentford last weekend, is not a long-term successor. However, strengthening in that department is more likely to happen in the summer than this month.

Which players could be leaving?

Stoke City, Blackburn Rovers and Preston North End are among a host of Championship clubs keen to sign young Liverpool striker Jayden Danns on loan until the end of the season.

Danns, who scored in the recent FA Cup win over Accrington Stanley, has proved his fitness after missing the early months of the season due to a back injury.

Midfielder James McConnell is also attracting loan interest from the Championship.
A final decision on whether the duo depart on a temporary basis is unlikely to be made until next week. Liverpool must weigh up whether to keep them around as cover as they continue to compete on four fronts or secure them regular first-team football elsewhere to further their development.

Winger Kaide Gordon and full-back Luke Chambers are set to leave on loan once again. Liverpool recently recalled Gordon from Norwich City due to a lack of game time. Chambers’ loan stint at Wigan Athletic was halted by a back injury in October but he’s on the brink of being given the all-clear to resume team training.

James Pearce

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Manchester City

What has happened this week?

The biggest news was Erling Haaland’s mammoth contract renewal, which will keep him at the Etihad Stadium until 2034 — revealed exclusively by The Athletic on Friday.

City did also continue to advance on several new signings in what is proving to be an uncharacteristically busy month for the champions.

They rarely strengthen the first team in January — the last time they did so was in 2018 with Aymeric Laporte — but the performances and injury situation in December persuaded them to change tact.

What positions/players are they looking at?

A move for Uzbekistan defender Abdukodir Khusanov went through on Monday. Clearly, City did not want that announcement to clash with Haaland’s.

City also agreed two further deals for Frankfurt’s Egyptian forward Omar Marmoush and Palmeiras’ Brazilian defender Vitor Reis.

City remain in the market for a holding midfielder, with Juventus’ Douglas Luiz one player of interest. Luiz was formerly loaned to Girona from City. It had been hoped he would join City at one time, only for him to be denied a work permit. Guardiola personally appeared at the hearing, suggesting how highly he valued Luiz at the time.

Talks have also been held over versatile Juventus full-back Andrea Cambiaso, meaning that City are likely to be busy right up until the end of the window.

Guardiola likes a small squad — are departures now key?

Actually, not really. Guardiola has always talked about wanting a small squad; in fact, he once said he would “rather not be a manager” than have too many players unhappy at not being selected. But recently, amid City’s injury crisis, he did say that he might have to change his mind and start to have 20 or more senior players on the books, to combat the ever-increasing demands of the football calendar.

Whether that actually happens going into next season remains to be seen, because several senior players could leave during the summer. But for now, it seems that the aim of the game is to add to the squad because City’s staff do not want to gamble that the persistent injury problems that have dogged them so far will go away.

Which players could be leaving?

Kyle Walker is on the verge of a move to Milan, after asking to leave City in the first week of this window.

That move has progressed despite some initial doubts over which English player would fill Milan’s final UK-specific allowance; it had been between Walker and Manchester United forward Marcus Rashford, but it currently appears that Walker will be the one on the way to Milan.

James McAtee’s situation is one to keep an eye on because of his limited game time and the fact that Marmoush is coming in, Oscar Bobb is returning from injury and, if City sign a holding midfielder, competition for places in midfield will become ever fiercer.

Sam Lee

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Manchester United

What has happened this week?

United entered meaningful talks with Lecce for Patrick Dorgu, the 20-year-old left wing-back. The move would be a permanent transfer, and progress is being made, but there is still much work to do. His arrival at Old Trafford is not guaranteed.

Lecce are reluctant to sell while in a relegation battle and the Serie A club’s sporting director Pantaleo Corvino said last week that Dorgu would be staying. How much that is a negotiation tactic remains to be seen, with United pursuing a deal.

Finding money to spend has been consistently highlighted as an issue by people at United, but outgoings will help.

Antony‘s loan to Real Betis, which is agreed in principle, would free up space in the accounts even though only part of his salary, which does not put him among the top earners at United, is expected to be covered.

Marcus Rashford has continued to explore his options for a loan exit this month, and his departure would create more flexibility on budgets.

Selling Alejandro Garnacho would generate another level of finance, of course, with Napoli and Chelsea holding talks over him.

Will results impact business?

Ruben Amorim is taking a strong approach to public discourse, calling this current squad “the worst team, maybe, in the history of Manchester United” and the message is clear: he feels the side should be improved via the market. Those at the top of the club agree better players are required to lift United from their lowly position and staff have been surveying several options.

January is not usually seen as an ideal time to do business. Given the dramatic nature of United’s circumstances, Amorim’s attempts to implement a new system, and the prospect that winning the Europa League is United’s only realistic chance for Champions League qualification, there is an incentive to change the picture now.

What positions/players are they looking at?

Left wing-back has been the priority since Amorim walked through the door in November, due to Luke Shaw’s injury issues and Tyrell Malacia’s struggle to regain his best form following more than a year out. Diogo Dalot has been a reliable deputy in that role, but Amorim wants a specialist to unlock the potential of his tactical idea.

Dorgu, who has four Denmark caps, is the player being pursued on that score. As a young player with a high potential ceiling, he fits the INEOS blueprint. Nuno Mendes, the Paris Saint-Germain left-back who worked with Amorim at Sporting CP, had already been decided against by United.

Finding a player to replace the goals of Rashford is another major issue facing United, whose scoring capacity is painfully bad. Only five teams have scored fewer than their 27 so far in the Premier League.

Which players could be leaving?

Rashford’s exit, at least on loan, has been on the cards ever since he was dropped from the squad for the Manchester derby on December 15 based on training performances.

Milan have held talks about a proposal, but are close to agreeing a move for Manchester City’s Kyle Walker, which would rule out another British player joining as per post-Brexit regulations in Serie A. The Juventus interest in Rashford has gone since Randal Kolo Muani moved there on loan.

Borussia Dortmund are still discussing an attempt to bring Rashford to Germany, however. The club have bigger issues to contend with, due to the pressure on manager Nuri Sahin’s position. Dortmund are 10th in the 18-club Bundesliga and Sahin might be at risk if Bologna beat his side in the Champions League on Tuesday night. That would complicate matters around Rashford.

There is a sense that Rashford would prefer a switch to Barcelona, who are now able to register players after striking a deal over future VIP box sales. But as my colleague David Ornstein explains elsewhere in the Transfer DealSheet, there is still no certainty as to whether he will be leaving or staying at Old Trafford.

Garnacho’s status continues to cause intrigue, with Napoli pursuing a transfer and Chelsea weighing up an approach. Garnacho played the full 90 minutes against Southampton on Thursday but started on the bench against Brighton three days later, and there are questions about how his profile fits Amorim’s system.

Antony’s loan to Betis is set to be confirmed soon, while United are also exploring loan options for Malacia.

Laurie Whitwell

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What has happened this week?

The focus continues to be on outgoings and, although Martin Dubravka is set to stay, Miguel Almiron is edging closer to departing after six years on Tyneside. The Paraguay international is set to make an emotional return to Atlanta United, with the MLS side tabling a bid of around £11million ($13.5m) last week and the deal is progressing.

Almiron’s contract expires in 18 months and he has made only one Premier League start this season. There is an acceptance that this is a natural juncture for him to depart, given his declining game time and the profit and sustainability regulations (PSR) benefits from the fee Newcastle will receive.

Lloyd Kelly‘s situation is less clear, however. Newcastle rejected Fenerbahce’s bid for the 26-year-old defender last week and they dismissed Juventus’ subsequent permanent and loan offers.

Newcastle are not actively looking to sell Kelly, who joined on a free transfer from Bournemouth during the summer, but will have to consider any significant permanent offers (or loans with obligations to buy) for PSR reasons. Kelly can play as a left-back or a centre-half, but Sven Botman and Emil Krafth returning to fitness means Newcastle have cover in the middle. The approaches so far have not come close to tempting Newcastle to sell.

Travis Hernes, the 19-year-old Norway youth international midfielder, joined Danish club Aalborg on loan to gain first-team experience. And Alex Murphy has joined Bolton Wanderers of League One on loan for the rest of the season.

With Almiron’s exit appearing imminent and Harvey Barnes currently being sidelined with an injury, Howe has a lack of wide-forward options, with Anthony Gordon and Jacob Murphy essentially guaranteed to start. Joe Willock and Joelinton can also play in those positions.

Regardless, and despite a right winger and a right-sided centre-back being the areas Newcastle are most keen to strengthen in, the messaging has remained consistent that first-team arrivals remain unlikely. Newcastle would prefer to defer significant business until the summer, but an exit or two will bolster their PSR position going forward.

An incoming is not entirely out of the question, but it is not expected, either.

The winning run is over — are there still gaps in the squad?

Yes, and there always were, regardless of the scintillating pre-Bournemouth form.

Newcastle have not made a signing who materially improves their starting XI since the summer of 2023, primarily due to PSR constraints, as well as their inability to prise Marc Guehi from Crystal Palace during the previous window.

A right-sided forward and a right-sided centre-back have been deemed priority positions to strengthen for more than two years, with an enquiry made for Nottingham Forest forward Anthony Elanga late in the summer, alongside the failed Guehi pursuit.

Callum Wilson’s injury record and William Osula only being afforded eight Premier League substitute appearances totalling 41 minutes of normal time also means there is little depth behind Alexander Isak up front. Moving Gordon inside to deputise as a striker negates the attacking threat down the left, especially with Barnes currently sidelined, and the former Everton man is not as effective centrally.

Regardless, all the noises indicate that Newcastle are still more than likely to end this window without any first-team additions, even if Almiron departs. Should Kelly also end up leaving, which is less likely at this stage, then there is still time for that to change, however.

Howe asserted last Friday that there is a collective desire inside the club to bolster the squad, but that PSR considerations mean that Newcastle are limited in what they can do. Newcastle’s first XI is very strong, and there are a handful of other quality players throughout their player pool, but they are not blessed with two high-class options in every position.

What positions/players are they looking at?

Beyond Guehi, Juma Bah, an 18-year-old who is on loan at Real Valladolid from AIK Freetong of Sierra Leone, is among the centre-backs who have been watched. He is seen as one for the future rather than a first-team-ready recruit.

At right wing, the club enquired about Nottingham Forest’s Anthony Elanga during the previous window. Bournemouth’s Antoine Semenyo, who terrorised Newcastle’s defence on Saturday, is admired, and Brentford’s Bryan Mbeumo is also liked but deals for either would be expensive and complicated. Moves for PSV’s Johan Bakayoko and Monaco’s Maghnes Akliouche appear unlikely this January.

Newcastle have watched Tyler Dibling, Southampton’s 18-year-old attacking midfielder, but he is not deemed a priority for January and is merely one of a number of young wingers being tracked. Reports linking Manchester City’s James McAtee have been played down, as have left-field links to Jack Grealish.

Burnley’s James Trafford, the 22-year-old Newcastle offered £16million for in June, fits the profile of goalkeeper Howe wants. He impressively saved two penalties against Newcastle’s rivals Sunderland on Friday. Any potential deal for Trafford is more likely to be revisited come the summer, with discussions ongoing to retain Dubravka until June at least and with four other senior goalkeepers on Newcastle’s books.

Which players could be leaving?

Beyond Almiron and Kelly, Sean Longstaff is the first-team player who is most likely to leave. Selling an academy graduate would represent ‘pure profit’ from a PSR perspective, so Newcastle would have to consider offers.

With a 12-month extension prolonging his deal to 2026, Newcastle could command a reasonable fee for the 27-year-old, who has only come on once in the last five league games. Premier League and Championship clubs have shown interest, but bids are yet to arrive and the expectation at the moment is that he will stay.

Offers would also be considered for Matt Targett, given Lewis Hall is the established left-back.

Jamal Lewis has returned to Newcastle after his Sao Paulo loan spell was cut short by an ankle injury. The 26-year-old’s Newcastle contract expires this summer and his injury may prevent him from securing another loan.

Lewis Miley, the 18-year-old midfielder, will not be allowed to depart on loan, but his brother, Jamie, is likely to head out again. The 20-year-old was recalled from a spell at Newport County but is attracting interest from EFL clubs. Garang Kuol, the 20-year-old Australia international forward, is also available for loan.

Despite reports linking Bruno Guimaraes with Manchester City, Newcastle have had no contact yet and are determined to keep hold of the Brazilian and their other star men, Anthony Gordon and Alexander Isak.

Chris Waugh

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What has happened this week?

Not a lot. On the pitch, Tottenham went to Arsenal on Wednesday, did not put up too much of a fight and lost 2-1. Then they went to Everton on Sunday, went 3-0 down in a disastrous first half, and clawed their way back to a 3-2 defeat.

Just as damaging as two more league defeats (their 11th and 12th in this season’s 22 matches) were two more injuries to first-team players. First Brennan Johnson felt a calf injury during the Arsenal game which will rule him out for “probably three or four weeks”, according to head coach Ange Postecoglou. And then Dominic Solanke felt his knee in training on Saturday, and will be out for “probably a few weeks”. And Yves Bissouma also picked up a knock.

That meant Spurs went to Everton with 11 missing players, and Postecoglou was forced to change the system. It was a disaster. But it only underlines how important it is for Spurs to start signing outfield players as soon as possible.

Given their dire form, should Spurs be recruiting players for Postecoglou or not?

Yes, they absolutely should be. It has been clear all season that Tottenham were short in defence and in attack, but that is even clearer right now. The injury crisis means that Spurs barely have enough players to get from game to game.

Postecoglou was asked on Sunday afternoon, after the Everton game, whether these new injuries to Solanke and Johnson only increased the need for more players. “It doesn’t, really,” he said. “I think it was pretty evident before that. We had 11 or 12 missing tonight. We’ve got to see how Rodrigo (Bentancur) is going through the protocols, apart from him, no one else is really due to come back.”

There has been plenty of discussion about whether Tottenham should sack Postecoglou. But the reality of their situation is that strengthening the squad this month is more important to Spurs saving their season — and staying up — than whoever the manager is for the next few months. No manager would relish the chance to get this patchy squad through the rest of the season.

What positions/players are they looking at?

Having signed a goalkeeper at the start of the window, Tottenham are still on the lookout for those key positions: both in defence and in the frontline.

In defence they are without Destiny Udogie, Micky van de Ven and Cristian Romero. Djed Spence and Sergio Reguilon are ineligible for Europe. Ben Davies is only just back from injury, while Radu Dragusin, Archie Gray and Pedro Porro have been run into the ground in recent months. They need another body.

Up front, Solanke and Johnson are now out, as are Timo Werner and Wilson Odobert with muscle injuries. Son Heung-min looks a shadow of his former self right now. Only Dejan Kulusevski is playing well. Mikey Moore and Richarlison are only just back. Spurs need more forwards too.

They were interested in a move for Randal Kolo Muani on loan from PSG, but he has decided to go to Juventus instead. Postecoglou denied last week that this was a big setback for Spurs. “We’ve been interested and were looking at a number of players,” he said. “But did we get to the point where we thought he was coming to us? No.”

Which players could be leaving?

It is very difficult to see anyone else leaving Tottenham during the rest of the window. Spurs simply do not have enough available players. Postecoglou has spoken about Will Lankshear going out on loan but he may well be needed to start up front, at least against Hoffenheim and Elfsborg.

Richarlison is in theory a sellable asset but he has only just come back from a hamstring injury and Tottenham will need him over the last few months of the season. Tottenham need more bodies to get them through this. Not fewer.

Dane Scarlett has been recalled from his loan at Oxford United, but this is due to his lack of playing time. Spurs are aiming to loan him out again before the window closes.

Jack Pitt-Brooke

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Barcelona

What has happened this week?

Barcelona had their first poor result after a fantastic start to the year, a 1-1 draw with Getafe. Atletico Madrid lost to newly-promoted Leganes and Real Madrid took advantage of those results by beating Las Palmas to go two points clear at the top and seven ahead of Barcelona.

Off the pitch, Barcelona have convinced Ronald Araujo to stay. The 25-year-old had received interest from Juventus while contract talks stalled. But after discussions with head coach Hansi Flick and sporting director Deco, the Uruguayan is understood to be willing to stay this season after signing a new contract.

Araujo’s camp has been in Barcelona this week to make progress on that front.

Can Barcelona register more players?

Yes. After the VIP seating sale was confirmed at the start of the year, Barcelona managed to balance their books and La Liga lifted the registration limitations it had over the club for years. Now Barcelona need to keep their business profitable and, as long as they do not report losses in the coming years, they should not be returning to that difficult position.

Barcelona could register new players without having to sell others, but they do not want to do that. To keep their wage bill at reasonable levels, the club want players to leave before bringing new signings in.

What positions are they looking at?

If any, Barcelona will target an attacking profile in the coming transfer windows. Despite having the best goalscoring record in Europe’s top five leagues, Barcelona’s attack is led by Robert Lewandowski, who will turn 37 in August. Deco is keeping in mind the need to find a replacement for the Pole. Flick also does not have a reliable backup for him.

Ferran Torres has accepted his role as a substitute but seems to be levels below his team-mates, and other names such as Fermin Lopez or Ansu Fati have not been able to make an impact. Manchester United forward Marcus Rashford has been linked in Catalan media, and is one Deco is keeping close tabs on. However, Barcelona would want to offload some players before going all in for a new player.

Rashford would also have to accept he would not start for the team straight away and would be expected to have a backup role in the squad.

Which players could be leaving?

Fati has been left out of the matchday squad for the past four games despite being fit to play. Flick admitted last week he has had an honest conversation with the player and his slim chances of being involved in the near future. It is Fati who will need to convince himself to leave.

A loan is the most sensible option for the 22-year-old, given his significant wages. His contract at Barcelona runs until 2027, giving the Catalans time to try to raise his market value.

Another name on the potential departures list is Eric Garcia. With Araujo staying and Andreas Christensen returning from injury, there are too many centre-backs in the squad. Garcia has performed at a decent level in the first half of the season — also playing as a holding midfielder — and Flick would like him to stay. The 24-year-old has raised interest from fellow La Liga sides Girona and Real Sociedad.

Girona sporting director Quique Carcel spoke about potentially signing Garcia over the weekend to DAZN: “In summer we already wanted to sign him, but now he is a player who is being involved with Barcelona and doing it well. We depend on Barcelona making the deal feasible or realistic for us.”

Pol Ballus

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Real Madrid

What has happened this week?

As reported earlier in the Transfer DealSheet, Trent Alexander-Arnold remains Real Madrid’s main target for this winter — or for the summer if Liverpool don’t want to sell the Englishman now.

There has also been a lot of movement around Alphonso Davies, Madrid’s left-back target for next summer. While reports in Germany and Spain suggested he was leaning towards the Bernabeu, The Athletic’s David Ornstein exclusively revealed on Friday that he was close to renewing with Bayern Munich for another four years.

Since then, Bayern and Davies’ agent have been working out the details of the deal before proceeding with the final formalities to seal it.

On Monday, Spanish radio station Onda Cero reported that manager Carlo Ancelotti has decided to leave in the summer whatever happens over the rest of this season and that Bayer Leverkusen’s Xabi Alonso is best placed to replace him. However, people close to the Italian claim the 65-year-old wants to continue.

The Athletic also reported that Palmeiras central defender Vitor Reis had reached an agreement with Manchester City. Madrid had asked the player’s agents and his club about the situation, but never entered the race to sign him.

Davies is nearly off the market — who else do Madrid want in his position?

Madrid are not actively looking for a left-back. Ferland Mendy renewed his contract last September — although the extension has not been announced yet — and Fran Garcia is under contract until 2027.

The club has explored and attempted to sign Davies as they considered him to be a market opportunity, given his contract with Bayern expires this summer.

What positions/players are they looking at?

They want a right-back, with Alexander-Arnold their player of choice. The market is also being combed for centre-backs.

There is some talk about Real Sociedad’s Martin Zubimendi, but the Spain midfielder is in advanced talks with Arsenal.

Which players could be leaving?

The club, as in the summer, want Jesus Vallejo to leave. The centre-back has only played 10 minutes this season and has struggled with injury. But he has expressed his doubts in the dressing room about a move, while at the club they point out it will be difficult for him to go anywhere because no official offers have arrived for him.

Dani Ceballos, who asked for a transfer twice in the summer, confirmed after his great performance against Las Palmas on Sunday that he will finish the season with Madrid.

Mario Cortegana

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Serie A

What has happened this week?

Ibrahimovic moved to Lazio. Not Zlatan. He’s advising Milan’s recruitment. Nor his son Max, who plays for Milan Futuro, the club’s under-23s team. Arijon Ibrahimovic, the teenage winger of no relation, has moved to the Roman capital on loan from Bayern Munich, six months after spending last season with relegation-bound Frosinone.

Safe to say this didn’t make headlines like Khvicha Kvaratskhelia’s departure from Napoli to PSG did as the biggest deal of the January window so far out of Italy.

Juventus, meanwhile, beat Lisbon’s Sporting to the signing of Alberto Costa from Vitoria Guimaraes, who could replace Andrea Cambiaso if Manchester City’s interest in the latter manifests itself into a bid.

Randal Kolo Muani also flew in for a medical with Juventus ahead of the completion of a loan from PSG. They were unable to register him straight away, however, as the French champions had maxed out their quota of players they’re able to farm out on temporary deals.

What positions/players are being looked at in Serie A?

The theme this winter is wide players, strikers and a hybrid of the two.

Napoli held talks with Alejandro Garnacho’s agents about his prospects of replacing Kvaratskhelia. Milan’s interest in Marcus Rashford hinged on the uncertain futures of Noah Okafor and Samuel Chukwueze. When Okafor’s move to RB Leipzig of Germany collapsed, Milan turned their attention to Kyle Walker and the right-back position.

Juventus still would like a centre-half to cover for Gleison Bremer after his ACL tear. Newcastle’s Lloyd Kelly is the latest name under consideration after Ronald Araujo of Barcelona and Milan’s Fikayo Tomori.

Elsewhere, Torino and Lazio are duking it out to tie down and sign up-and-coming Italian players. Both would like to bring Chelsea’s Cesare Casadei back to his homeland. Lazio are also in pursuit of Empoli’s highly-rated Jacopo Fazzini.

Serie A seems particularly active — why?

Como have the wealthiest owners in Serie A and upon returning to the top flight for the first time in 21 years they have no intention of going back down. In addition to offering Dele Alli a contract, they have stumped up €15million (£12.7m/$15.6m) for Maxence Caqueret and €12m for Assane Diao. Liquidity is not an issue.

Napoli have some of the Kvaratskhelia money to spend and, as league leaders, are looking to do everything they can to give Antonio Conte the best chance of delivering the Scudetto.

Milan and Juventus are very active too. The former have a new coach to satisfy. The latter need cover for injuries and to fill problem positions. A lacklustre first half of the season has left both at risk of missing out on qualifying for the Champions League’s knockout phase.

James Horncastle

(Top image — design: Eamonn Dalton, photos: Getty Images)