Transfer deadline day is famous for producing twists, dramatic negotiations and deals that nobody saw coming. With the summer transfer window approaching its final day, several major clubs could still make late moves to strengthen their squads.
While some of the deals below are already being discussed, others would require a dramatic late breakthrough. From Arsenal's pursuit of Malick Fofana to a potential surprise blockbuster deal for Manchester United, here are five transfer deals that could happen on deadline day, including the latest reports and expected transfer fees.
5. Malick Fofana — Lyon to Arsenal
Expected fee: around £35m-£50m
Arsenal have emerged as a serious contender for Lyon winger Malick Fofana in the final day of the transfer window. The Gunners have reportedly opened talks over the 21-year-old after their pursuit of a major attacking signing became increasingly complicated.
Fofana has long been admired in England and could now become Arsenal's late-window solution on the left side of the attack. Lyon are also under pressure to raise significant funds, making a sale increasingly attractive.
L'Équipe reports that Lyon are looking for around €40 million (£34m), while other reports suggest Arsenal could ultimately have to pay closer to £50m to complete the deal.
With Gabriel Martinelli reportedly leaving for Al-Hilal, Arsenal have a clear need for another versatile forward. Fofana's ability to operate on the left wing while also playing elsewhere across the frontline makes him an appealing option for Mikel Arteta.
Likelihood: High
4. Ismaïla Sarr — Crystal Palace to Liverpool
Expected fee: around £75 million
Liverpool's search for another wide attacker could lead them back to Ismaïla Sarr, although Crystal Palace are determined to keep the Senegal international.
Liverpool have already shown concrete interest in the 28-year-old, with reports previously stating that the Reds submitted an opening £50m bid, which Palace rejected. The Eagles are believed to value Sarr at approximately £75 million.
The situation has become increasingly dramatic, with Sarr reportedly pushing for the move. Palace, however, have publicly maintained that the winger remains under contract and have been reluctant to entertain Liverpool's approach.
Liverpool's need for another winger is clear, particularly after their unsuccessful pursuit of Yankuba Minteh. Even after signing Bradley Barcola, the Reds remain active in the market for attacking reinforcements.
A significantly improved offer could therefore force Palace into a difficult decision on deadline day.
Likelihood: Medium
3. David Raum — RB Leipzig to Manchester United
Expected fee: around £34m-£40m
There have been no major recent rumours suggesting that a David Raum-to-Manchester United deal is close, but this is precisely the type of transfer that could suddenly become relevant on deadline day.
United desperately need another left-back this season, with Luke Shaw's fitness remaining a concern and the club's preferred target, Lewis Hall, proving difficult to acquire. Raum has previously emerged as one of the alternatives being considered.
The German international could be one of the best realistic options still available on the market. Reports have suggested that RB Leipzig player has a £34m release clause which makes a deal easier for United to initiate if they wish to sign the player.
Raum would offer United considerable experience, attacking quality and the ability to provide consistent width from the left. If United fail to secure their first-choice target, a late move for the Leipzig defender could make plenty of sense.
Likelihood: Medium-low
2. Enzo Fernández — Chelsea to Manchester City
Expected fee: around £120m or potentially higher
This would be one of the biggest transfers in Premier League history.
Manchester City remain interested in Enzo Fernández, despite previously missing Chelsea's deadline to submit a £120m offer. Chelsea had valued their midfielder at around £120m, but City did not make the required bid before the club's initial deadline.
However, the door has not completely closed. Reports indicate that City could still attempt to negotiate a deal before the transfer window shuts, although the structure and eventual price could be different from Chelsea's original £120m demand.
Fernández would give City another elite-level midfielder and could become particularly important following major changes in their midfield options.
The only obstacle was Chelsea's need to find a replacement for the player, but latest reports are that Chelsea are in advanced talks to sign Lamine Camara of Monaco. Thus, a deal for Enzo looks almost certain for Man City before the window ends.
Likelihood: Almost Certain
1. Julián Álvarez — Atlético Madrid to Barcelona
Expected fee: potentially £100m+
This is the wildest transfer on the list, and arguably the most unlikely.
Barcelona have been heavily interested in Julián Álvarez, but Atlético Madrid have repeatedly made their position clear: they do not want to sell their star striker to their La Liga rivals. Atlético chief executive Miguel Ángel Gil Marín went as far as insisting that Álvarez would "never, ever" be sold to Barcelona.
Sky Sports had reported that Atlético considered Barcelona negotiations off the table, leaving Álvarez with essentially two options: remain in Madrid or consider a move to Arsenal.
That makes a Barcelona transfer extremely unlikely.
But deadline day has repeatedly demonstrated that football transfers can change dramatically within hours. If Barcelona somehow convinces Atlético to negotiate, or an extraordinary financial package is presented, the situation could transform almost instantly.
A deal would almost certainly require a nine-figure transfer fee, making it one of the most spectacular deadline-day moves imaginable.
Likelihood: Extremely low — but never say never.
Final verdict
The most realistic deals on this list are Malick Fofana to Arsenal and Enzo Fernandez to Man City, while Ismaïla Sarr to Liverpool remains a potential huge deal if the clubs can bridge the financial gap. David Raum is more speculative, particularly given the lack of fresh momentum.
As for Julián Álvarez to Barcelona? It would take a remarkable turnaround. But if there is one thing deadline day has taught football fans, it is that anything can be possible until the window finally closes.
