A flurry of summer moves and reported valuations is shaping up across Europe as clubs prepare for the 2026 window.

Chelsea are reportedly ready to pursue Atlético Madrid striker Julián Álvarez, with a bid said to reach $173.8 million (€150 million, £129.8 million) (Source: El Nacional). Galatasaray striker Victor Osimhen has emerged as a target for both Arsenal and Manchester United, while Bayern Munich are reported to be preparing an offer in excess of $115.8 million (€100 million, £86.6 million) (Source: Sports Boom).

Manchester United have identified Inter left back Federico Dimarco as a priority and are prepared to bid as much as $69.5 million (€60 million, £51.9 million) (Source: FootballTransfers). Borussia Dortmund right back Julian Ryerson is also attracting interest, with Manchester United and Newcastle United both linked (Source: Football Insider).

Liverpool are plotting an early move for RB Leipzig winger Yan Diomande (Source: TEAMtalk) and have made a substantial contract offer to centre back Ibrahima Konaté to prevent a free transfer, amid interest from Inter, PSG and Real Madrid (Source: CaughtOffside). The club are additionally seeking to keep goalkeeper Alisson until his contract expires in 2027 in the face of Juventus interest (Source: Franco Leonetti).

AC Milan are hopeful of securing Manchester City centre back Nathan Aké at a reduced fee after the season (Source: Calciomercato). Tottenham Hotspur are reported to be willing to sell centre back Cristian Romero, with Atlético Madrid among the leading suitors (Source: Fichajes). Aston Villa, Liverpool and Manchester United have been linked with Juventus midfielder Khephren Thuram, though Juventus plan to offer him a new contract (Source: Tuttosport).

Other developments: Borussia Dortmund and Newcastle are linked over defensive targets; West Ham may need to sell Crysencio Summerville due to financial issues (Source: Football Insider); Beşiktaş are exploring moves for Issa Diop and Kevin Danso (Source: Takvim). Mauricio Pochettino has reportedly asked Real Madrid to sign Cristian Romero and is said to want Marco Verratti alongside targets including Alexis Mac Allister, Enzo Fernández, Adam Wharton or Vitinha (Source: Defensa Central). Barcelona have added Evan Ndicka to a list of potential targets (Source: Fichajes). Manchester United are also monitoring Eduardo Camavinga and Aurélien Tchouaméni as replacements for Casemiro, who will depart on a free transfer in the summer (Source: Flashscore).

Erling Haaland plans to remain with Man City beyond the end of the season. While he does hope to play in La Liga in the future, he is not convinced that it is the right time to join either Barcelona or Real Madrid (Source: El Nacional).

Julian Brandt will leave Borussia Dortmund at the end of the season and is drawing interest from Arsenal and Barcelona as he prepares to become a free agent.

Dortmund executive Lars Ricken said at the weekend: “Both sides agreed that the expiring contract would not be extended. I believe we parted with a great deal of respect. But it’s also another opportunity for both of us.” Sky Sport in Germany reports that Brandt “wants to go abroad” in his next chapter, and both Arsenal and Barcelona are said to be “monitoring” the situation. As yet, there have been no approaches.

Barcelona, described as cash-strapped in the reporting, are attracted by the absence of a transfer fee and would likely use Brandt as cover rather than a starter. For the Blaugrana, the most probable role would be as the first point of cover for Raphinha, although recruitment plans could also be influenced by decisions around Marcus Rashford. The Manchester United winger would cost in the region of $35–40 million to buy outright because of the option in the loan agreement. He is also less than 18 months younger than Brandt, who would be available without a fee. Brandt’s estimated Dortmund salary ($156,000 per week) is barely more than a third of what Rashford ($436,000 per week) is thought to earn currently.

At Arsenal, Brandt is viewed as a versatile option to provide cover in two positions and to add depth. He could also facilitate outgoing business, allowing the Gunners to offload Leandro Trossard or to cash in on Gabriel Martinelli, while concerns over Martin Ødegaard’s decline and Mikel Merino’s injury have highlighted central midfield fragility.

Brandt is reportedly already learning Spanish, which may give Barcelona an advantage because of a Catalan girlfriend. Dortmund will need a replacement, and the possibility that Jadon Sancho could return for a third spell is raised in the coverage. It’s certainly possible.

Alexis Mac Allister has plainly confirmed that there have been no fresh contract discussions with Liverpool, a statement that arrives amid growing speculation about his future. “In terms of me, we are not in contract talks but I’m not in a rush and that’s only a fact,” Mac Allister told reporters at a press conference before Liverpool face Galatasaray in the Champions League.

Liverpool’s approach to contracts has often involved beginning negotiations around two years before expiry, and the club’s recent handling of other midfielders has drawn attention. Ryan Gravenberch signed a new long-term contract this month, taking his salary to fourth on the club’s payroll. Having joined at the same time as Mac Allister just under three years ago, that deal raises questions over why Mac Allister is not yet in the same process.

Dominik Szoboszlai, another 2023 arrival, has not signed a new contract yet. ESPN reported last month that Liverpool view the Hungarian as a “potential future captain” and are keen to “reward” his form in an otherwise difficult campaign. Talks with Szoboszlai are said to have begun earlier this season.

With roughly two years remaining on many top players’ deals, the timing becomes relevant for both club and player. Two years before the end of a contract is potentially a good time to sell. For Mac Allister, aged 27, whatever contract he signs next ought to be the biggest of his career and the one that defines him. He could stay with Liverpool into his thirties, or pursue a new elite challenge at his peak.

Interest from Real Madrid previously surfaced when Carlo Ancelotti was manager; that initial approach reportedly received an encouraging response from the Mac Allister camp but did not progress. Now that Los Blancos are described as needing a midfield overhaul after opting against replacing Toni Kroos and Luka Modrić, the suggestion is they could be interested again.

In November last year, Mac Allister’s father, Carlos, said that while it is important to “respect” Liverpool, there is a need to be “prudent” in the future should an “opportunity” arrive. He also described it as “nice” for his son to be linked with teams like Real Madrid.