Premier League's Transfer Summer: Who Still Needs What

Three hundred and eighty Premier League matches start on August 22. The window slams shut nine days later. And right now, the gap between the clubs who've done their business smartly and those still scrambling is becoming uncomfortably clear.

Let's start with the headline act. Arsenal have reached an agreement with Newcastle United to sign midfielder Bruno Guimarães after submitting an improved bid worth €90m plus bonuses. This one has been simmering all summer. After seeing initial offers of €70m and €80m turned down by the Magpies, the Gunners raised their proposal to a base fee of €90m plus performance-related bonuses. The 28-year-old Brazil international has already agreed personal terms on a long-term contract running until 2031. For fantasy football purposes, landing a player of Guimarães' calibre — someone who racked up 5 goals and 6 assists across 38 Premier League appearances in 2024-25 — into a title-winning Arsenal midfield is the kind of SAM rating booster that changes your squad's ceiling overnight. Mikel Arteta's side, defending Premier League champions heading into the new season, are clearly not content to stand still. The Guimarães deal would signal that loud and clear. For Newcastle, though, losing their captain to a domestic rival stings. Make no mistake — this is a serious blow to their top-four ambitions, regardless of the fee they receive.

Chelsea's summer, meanwhile, has been the most frenetic of anyone's. There has been significant change at Stamford Bridge, where Xabi Alonso is aiming to bring much-needed stability and establish a clear identity. The Blues collapsed last season, eventually finishing 10th in the Premier League and missing out on European football altogether. Two of Alonso's most pressing needs have been the goalkeeper position and the left back slot, and he's moving on both simultaneously. On the defensive front, Chelsea have reached a full agreement with Rayo Vallecano to sign Pep Chavarria for €25 million. Since joining Vallecano from Real Zaragoza in 2022, the 28-year-old has made 125 appearances and established himself as one of the best left-backs in La Liga. He also played every minute of Vallecano's impressive run to last season's UEFA Conference League final. Chavarria is not a marquee name — he did not make his debut in Spain's top flight until he was 24 years old — but Alonso clearly values character and work-rate over profile. He ranked among the top dozen players in La Liga for crosses from open play and corners won, and was also among the top dozen for blocking crosses and winning possession in the defensive third — a genuinely two-way fullback, which fits Alonso's system perfectly.

Between the posts, the story is even bigger. FC Porto goalkeeper Diogo Costa is closing in on joining Chelsea this summer, with talks between the two clubs advancing. The Blues, who finished 10th in the Premier League last season under Xabi Alonso, have made him their top goalkeeping priority. Costa has a release clause worth €60 million in his contract with the Primeira Liga champions, and any deal will require a big-money outlay. The logic is sound — Robert Sanchez and Filip Jørgensen have both been underwhelming at Stamford Bridge, and recent reports suggest both shot-stoppers are on the chopping block this summer, with Jørgensen closing in on joining RC Strasbourg. The 26-year-old Portuguese international had a stellar season, helping Porto secure their 31st league title while managing an impressive 26 clean sheets and conceding just 13 goals across all competitions. He also played every minute for Portugal at the World Cup. That's a clean sheet machine. For any fantasy football manager watching Chelsea's goalkeeping situation, Costa's arrival would transform a near-irrelevant position for the club into one of the most bankable clean sheet options in the Premier League. Interest from Bayern Munich and Paris Saint-Germain could strengthen Porto's negotiating position if either club enters the race, so Chelsea need to move quickly. And that's before you even consider that Chavarria is already in London for his medical, making him Chelsea's tenth signing of the summer.

Zoom out and the wider transfer landscape is fascinating. Liverpool are entering a new era under Andoni Iraola, with the post-Arne Slot rebuild at Anfield gathering pace, while at Manchester United, Michael Carrick oversees the club's return to the UEFA Champions League. The Bundesliga and Serie A clubs have been feeding Premier League squads all summer — Transfermarkt data confirms Brazil and Italy among the most active nationalities in July's spending — and the cross-league traffic shows no sign of slowing. Manchester City midfielder Tijjani Reijnders has emerged as a £55m target for Nottingham Forest, suggesting the ambition runs deep beyond just the traditional big six. Spurs are also in contact with Manchester City over winger Savinho and Eintracht Frankfurt's Jean-Matteo Bahoya, as they try to patch a squad that needs creativity. The transfer news cycle will not slow down from here. With the Premier League new season now less than three weeks away, the clubs who identify and fill their weaknesses first will hit the ground running. Right now, Arsenal look the most complete — if they land Guimarães, they are genuinely frightening. Chelsea are the most active, and credit where it's due, Alonso is at least building something coherent. The question is whether there's enough time left to see it through.