On July 1 (CEST), Manchester Evening News reported that Manchester United rejected paying high fees for Elliot Anderson and Matheus Fernandes.

Manchester United is currently placing greater emphasis on valuation discipline, which is commendable in many respects. The club has its own assessment of player values and is unwilling to compromise easily. United withdrew from the race when Manchester City offered a nine-figure fee for Elliot Anderson; now Tottenham has agreed to pay €85 million for Matheus Fernandes, and United has once again chosen to walk away.

Of course, there are other factors to consider. Anderson made it clear he wanted to join Manchester City, and Fernandes also appeared reluctant about the prospect of joining Old Trafford.

From a business perspective, United's approach is sound. Considering the midfield transfer market in recent years, Anderson's valuation could reasonably be seen as close to market value, but Fernandes is harder to justify on the same basis. With Southampton and West Ham both having been relegated, his credentials remain unproven at the highest level. While the 21-year-old has potential, converting that potential into consistent performance is not guaranteed, and United would have to invest heavily to make it happen.

At this price level, the club would naturally expect more. Fernandes may not deliver that, and he may not be the type of midfielder signing who can immediately transform United's fortunes and make them genuine title contenders next season.

The question now is where United goes from here. Their two primary midfield targets are moving to other Premier League clubs, and these two deals will further inflate the market.

Just as Nottingham Forest could reference the €115 million Chelsea paid for Moisés Caicedo, or the €105 million Arsenal spent on Rice in July 2023 as a benchmark, West Ham can now easily use the €116 million fee for Anderson as justification for Fernandes's valuation.

So when United considers intensifying interest in Bournemouth's Alex Scott, or returning to Brighton to pursue Moisés Caicedo, they may find that valuations have risen another notch. That's how the market works now.

Looking back, perhaps United's most glaring midfield mistake in recent years was not pushing harder to sign Declan Rice before he joined Arsenal. United had long admired the England international and watched him shine at Old Trafford in matches against West Ham over many years.

Rice was willing to join United at that time, but the deal never materialized.

Had United been more decisive then, the transfer could have happened. If so, Rice and Kobbie Mainoo would almost certainly now be forming a successful and stable long-term midfield partnership for United.

Instead, United is still searching for a new midfielder to partner Mainoo. Casemiro has departed, and Éderson Silva will arrive from Atalanta, but the club originally hoped to sign another big name. Now that prospect seems increasingly difficult, and this summer's midfield transfers have pushed the market even higher. United remains firm on its valuations and determined not to be led by rivals, but finding a "bargain" midfielder at a price United considers fair has become like finding a unicorn.

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