According to The Athletic, the Premier League's "big six" are continuing their pursuit of talent within the league this summer, with many teams insisting on high prices to retain players.

The Premier League's "big six" are on the offensive again.

Last summer's transfer window saw a major trend of the wealthiest Premier League clubs poaching talent from domestic rivals. This trend is likely to continue, as evidenced by some of the biggest deals in this transfer window so far.

Elliott-Anderson has reached an agreement to join Manchester City from Nottingham Forest for £116 million. Tonali will also transfer from Newcastle United to Tottenham Hotspur for a total value of up to £100 million, which will break Tottenham's club record set earlier this week when they signed Matheus Fernandes from West Ham United for £85 million.

If the Premier League's "big six" get their way, the hunting season is not over. The "big six" here refers to the wealthiest and most influential clubs, including Arsenal, Chelsea, Liverpool, Manchester City, Manchester United, and Tottenham Hotspur.

Arsenal has already made a verbal offer to Newcastle United for Guimarães. Chelsea had offered £8 million for Sunderland captain Zakaria, but it was rejected. They, like Arsenal, are also interested in Aston Villa's Morgan Rogers. AFC Bournemouth's Alex Scott has attracted attention from Manchester United and Arsenal.

These deals all involve traditional Premier League powerhouses attempting to poach players from domestic rivals, with all potential sellers insisting that their stars will not leave, or that they will not change their stance unless a huge offer is made. How long can they hold out?

As usual, much depends on the financial situation. A closer look at Villa's situation shows why they are determined to get a huge transfer fee if Morgan Rogers leaves, using Anderson's record transfer fee as a reference; it also shows why they may face pressure to sell players.

Villa's main concern stems from a settlement agreement with UEFA, under which they will be banned from European competitions for one year if they violate the agreement. The agreement requires them to have zero losses for the 2026-27 season, but this can be increased correspondingly based on their remaining space under the €60 million loss cap for the 2025-26 season, which is approximately £51.4 million.

This space may seem quite limited, meaning Villa needs to significantly improve its financial situation by the 2026-27 season. They will receive Champions League revenue this season, but they still incurred substantial losses when participating in the Champions League in the 2024-25 season.

According to the settlement agreement, in the 2027-28 season, Villa will undergo a three-season assessment up to and including the 2026-27 season, and will need to keep their total three-year losses within the generally allowed €60 million limit. English clubs usually cannot obtain the theoretical allowance that can extend to €90 million.

Villa incurred significant losses in football operations revenue in the 2024-25 season, and is expected to incur considerable losses in the 2025-26 season as well. Therefore, they need to achieve a large profit in the 2026-27 season to comply and avoid a one-year ban from UEFA. If a club makes a bid of over €100 million for Morgan Rogers, this will undoubtedly influence Villa's considerations.

AFC Bournemouth has just begun to face UEFA restrictions, as they have qualified for European competition for the first time in their history. They are likely to comply with the football earnings rules: they made a profit in the 2024-25 season, and it seems likely to be the case in the 2025-26 season as well. Although their financial reports have not yet been released, several significant sales, including Semenyo for £62.5 million, Zabarnyi for £54 million, Ouattara for £37 million, and an expected additional £27 million in Premier League broadcast revenue, all paint a relatively positive picture.

AFC Bournemouth is also now subject to UEFA's squad cost ratio rule, which is calculated on a calendar year basis. Despite the club's increased turnover and player sales, this rule is more likely to cause problems. Europa League revenue is limited, and their small stadium capacity also means limited growth in matchday ticket revenue. In the squad cost ratio calculation, player sales revenue is amortized over three years, so the short-term boost is limited.

In the 2024-25 season, AFC Bournemouth's total wages reached £158 million, and player amortization costs were £69 million; it seems difficult for the club to keep squad costs within 70% of revenue.

This does not necessarily mean AFC Bournemouth's stance on Alex Scott will change: AFC Bournemouth insists he is not for sale and is trying to sign a new contract with him. There is a view that unless the club faces a significant violation and the risk of heavier UEFA penalties, accepting fines similar to those incurred by several English clubs for violating UEFA's squad cost ratio rule might be worthwhile to keep the best players and strengthen the squad.

What about Newcastle United? Financial factors once forced them to let players go: Elliott-Anderson's sale to Nottingham Forest in 2024 is one such example. Antony-Gordon's transfer to Barcelona for €80 million, or approximately £69 million, was partly to raise funds needed for a major squad overhaul this summer.

The good news is that Newcastle United's significant sales in recent transfer windows, including Isak for £125 million last summer, and now Gordon and the departing Tonali, will significantly improve their financial situation. Newcastle United will not participate in European competitions in the 2026-27 season, meaning they only need to comply with the Premier League's 85% squad cost threshold, rather than UEFA's stricter 70% rule. Of course, they hope to return to European competitions after next season and should prepare for it.

Some departures from St. James' Park are painful, but from a financial perspective, these sales should mean Newcastle United is under no further pressure to sell players. However, this is certainly not the only factor. Newcastle United is well aware of how much personal ambition can influence negotiations: last summer, it was Isak's clear expression of his desire to transfer, and effectively his strike, that ultimately pushed through his move to Liverpool.

The player's contract situation also clearly affects the selling club's leverage in negotiations. Anderson's contract with Nottingham Forest runs until 2029, meaning Forest can demand a strong price without fear of losing the player soon or letting him leave for free. Morgan Rogers signed a new contract last November, tying himself to Villa until 2031, which strengthened Villa's negotiating position. Alex Scott's current contract with AFC Bournemouth has two years remaining.

Last summer's transfer window ended with a blockbuster transfer, and this transfer window started similarly. Villa, AFC Bournemouth, Newcastle United, and other similar clubs are determined that if more headline-grabbing transfers occur, they must be on their terms. And in most cases, they may indeed have sufficient financial strength to ensure this.

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