Reports suggest Marcus Rashford passed up a decisive opportunity to make an impact against Atlético Madrid in the Champions League quarterfinals, a moment that has shaped how Barcelona view his loan spell. After a bright start in Spain — seven La Liga assists in his first 12 appearances and Champions League braces against Newcastle United and Olympiacos early in the campaign — Rashford’s output has diminished.

Across La Liga and the Champions League he has started only 20 of his 37 appearances, underlining his role largely as a backup. His goals in April’s back-to-back La Liga matches against Atlético and Espanyol were his first in the competition since the end of January. He also failed to register a goal or assist in three Champions League knockout appearances against Newcastle and Atlético.

The Athletic reports that Rashford did not take the opportunity presented while Raphinha was sidelined with a hamstring injury. Hansi Flick set out the chance in early April: “It’s a good chance now for him to show again, but we have other options [to replace Raphinha, too].” After a disappointing first-leg showing against Atlético, Flick started Gavi on the left in the second leg; Rashford came off the bench and was unable to alter the outcome as Barcelona were eliminated.

Barcelona’s interest in a permanent transfer has cooled. There is no intention to trigger the existing $35.3 million (€30 million, £26.1 million) option to buy. While personal terms are not thought to be an issue, the club are “considering other options” for forward recruitment, and Manchester United are not expected to renegotiate the terms to make the deal more attractive to the Catalans.

If Rashford returns to Manchester United at the end of the loan, Barcelona would need to recruit another forward. At present he provides primary cover behind Robert Lewandowski, Lamine Yamal and Raphinha; the only other natural frontline player in the squad is 20-year-old Roony Bardghji. The Athletic names alternatives including Julián Alvarez, Harry Kane, Victor Osimhen, Omar Marmoush and Víctor Muñoz as potential targets for different forward roles.

Rashford has embraced life at Barcelona, so a departure would be a wrench. His contract at Manchester United, signed in 2023, still has two years remaining, and a return and reintegration at Old Trafford is possible. At his best he has been a 30-goal-a-season player, the only United forward since Robin van Persie in 2012–13 to reach that mark, doing so in 2022–23. His difficulties at United began early into Ruben Amorim’s time as manager, prompting an initial loan at Aston Villa before this season at Barcelona. Back in Manchester, circumstances have changed with Amorim gone and the team more consistent and on the up.

Manchester United caretaker Michael Carrick has signalled that Marcus Rashford could be welcomed back to Old Trafford, but a straightforward reunion looks unlikely while the Barcelona loan and contract mechanics remain unsettled. The player faces the prospect of “transfer limbo” during the upcoming World Cup if talks do not progress.

Rashford’s route away from United began after a falling out with Ruben Amorim, which ended his one-club trajectory and led to loans at Aston Villa and, most recently, Barcelona across the last 16 months. The Catalan club initially received similar praise from Rashford on his summer move, but reports in recent weeks suggest Barcelona do not plan to trigger the current permanent option.

The loan included an option to buy for $35.4 million (£26.1 million, €30 million), a figure that was regarded as a bargain for a 28-year-old England international when agreed. Rashford has contributed 12 goals and 10 assists in all competitions, yet Barcelona president Joan Laporta voiced the club’s reluctance to accept the terms in March. Suggestions have circulated that Barcelona might extend the loan or that the player would not be in next season’s plans, although The Times rejected those reports and said manager Hansi Flick is “happy” with his English recruit.

If Barcelona seek to renegotiate the fee, United are expected to resist. The club view Rashford as an asset who could command interest elsewhere. Carrick, who set up a goal for Rashford in his last match as a player and worked with him again during his time as assistant coach and as caretaker manager in 2021, spoke cautiously about the situation.

“There’s decisions to be made in time on certain things, and obviously Marcus is in that situation. But at this point in time, nothing’s been decided,” Carrick told assembled media this week.

“Certainly from my perspective, whoever’s here I want to work with, make the best out of, and help them improve. At the moment, it’s this squad of players, and there’s obviously players on loan, and whatever happens with that later on will happen with that later on. But certainly, as a coach, and as a leader of a squad, we want to get the best out of everyone as much as we possibly can.”

Carrick has publicly called for a new left winger after Amorim reshaped United’s wide options to suit a 3-4-2-1. Rashford would fill that role, but while his return would not require a transfer fee, a potential wage increase linked to European qualification remains an added complication. The Guardian reported Rashford’s salary would rise to $440,000 per week should United finish in the top five, introducing another financial wrinkle to his uncertain summer.

A busy summer window is taking shape in the latest transfer chatter, with a series of high-value approaches and multi-club interest across the Premier League and Europe.

Real Madrid are preparing a major proposal to sign Bayern Munich winger Michael Olise: an offer of $175 million (€150 million) plus Brahim Díaz has been mooted, with club president Florentino Pérez focused on securing a deal (Source: Fichajes). Fabrizio Romano reports that Bayern Munich will not sell Olise to Madrid or any other suitor (Source: Fabrizio Romano).

Barcelona are reassessing Lamine Yamal’s readiness to lead the side to major trophies and have begun searching for an alternative superstar, with Manchester City striker Erling Haaland identified as the principal target (Source: El Nacional). Robert Lewandowski is reportedly no longer prioritizing a new contract at Camp Nou and has begun to explore his options (Source: Cadena SER).

Several Premier League clubs feature repeatedly in the rumour flow. Chelsea are monitoring Angelo Stiller ahead of a possible summer bid (Source: BILD). Manchester United have Kees Smit on their radar while Newcastle United are actively pursuing the AZ Alkmaar midfielder, with interest coming from across the Premier League (Source: CaughtOffside). Liverpool lead the race to sign Wolverhampton Wanderers midfielder João Gomes ahead of Chelsea and Manchester United (Source: RTI Esporte).

Other notable links include Alisson, who has reportedly approved a move to Juventus (Source: Tuttomercatoweb); Arsenal youngster Myles Lewis-Skelly attracting Real Madrid interest (Source: Fichajes); and Manchester City preparing a bid worth $134 million (£100 million) for RB Leipzig winger Yan Diomande (Source: SportsBoom).

Goalkeeper movement is also suggested: Tottenham Hotspur and Aston Villa have been linked with Manchester City’s James Trafford (Source: Daily Mail), while City are said to be considering a return for Sheffield Wednesday’s Pierce Charles (Source: TEAMtalk). Southampton winger Léo Scienza has drawn Premier League interest from Aston Villa, Tottenham, Everton, Fulham and Leeds United (Source: ESPN).

Additional items include Liverpool’s reported concern over Virgil van Dijk and interest in Inter’s Alessandro Bastoni (Source: Fichajes), AC Milan viewing Chelsea striker Nicolas Jackson as a top target as he returns from a Bayern Munich loan (Source: Corriere dello Sport), and Arsenal prepared to rival Leeds for Rennes midfielder Djaoui Cissé (Source: Media Foot).