The summer transfer window is going to be unlike any other but clubs across Europe have had plenty of thinking time. The coronavirus pandemic has seen uncertainly across the world, especially in the financial markets, as leagues have been postponed, then restarted while adhering to safety protocols.
As a result, clubs have had to change their transfer plans significantly. The days of the £100 million transfer could be gone (for now), with cut-price deals, loans and swap deals a way for teams to save money and improve their squads. There will still be some business this summer, though it won't be "business as usual" for anyone.
ESPN's writers bring you everything you need to know about the top European clubs' hopes and delve into the deals which might be on the cards. Who will come in? Who will depart?
Budget: £40m -- Jurgen Klopp has made it clear that transfer business will be kept to a bare minimum at Anfield this summer, with the Liverpool manager citing the failure to beat Chelsea to the £47.7m signing of RB Leipzig striker Timo Werner as an example of the financial restraints caused by the impact of COVID-19.
What does the team need? Having won the Premier League with ease this season, there is clearly little wrong with the Liverpool machine. In every position, Klopp's side are a match for any opponent in the world. But there is an argument that Liverpool lack depth in key areas, with no obvious cover for left-back Andy Robertson or centre-back Virgil van Dijk.
In midfield, both Jordan Henderson and James Milner are in their 30s and up front, Liverpool's limited options beyond Mohamed Salah, Roberto Firmino and Sadio Mane prompted the interest in Werner prior to his move to Chelsea.
Who are the major targets? Liverpool sources have told ESPN that there is no interest in Bayern Munich midfielder Thiago Alcantara, despite ongoing speculation linking the former Barcelona player with a move to Anfield. Age, wages, transfer fee and his injury record have all been cited as reasons why the 29-year-old Thiago does not fit Liverpool's profile.
The consistent message from those within Anfield is that no major deals will happen unless a significant player leaves the club. There is no expectation of a big star leaving, so it is likely to be a quiet window for the champions.
Who could be leaving? Dejan Lovren has been told he can leave the club this summer, with the centre-back almost completing a move to Roma 12 months ago. He has been linked with Russian champions Zenit.
Midfielder Adam Lallana and full-back Nathaniel Clyne will leave Anfield after their contracts have expired and the club will also listen to offers for goalkeeper Loris Karius, who is set to return to Liverpool following the end of a loan spell with Besiktas.
Milner has two years to run on his contract, but the 34-year-old could move on for the promise of regular football elsewhere, while Liverpool will listen to offers for Xherdan Shaqiri.
Any new contracts coming? Georginio Wijnaldum is the only player likely to be handed a new deal, with the Dutch midfielder's contract due to expire in June 2021. Aside from Wijnaldum, all of Liverpool's top stars are secured to long-term contracts which expire from 2023 onwards. -- Mark Ogden.
Nicky Bandini explains why a swap deal involving Barcelona and Lautaro Martinez would be a mistake for Inter.
Budget: Unlimited. They will have to spend within UEFA's financial fair play regulations, but after avoiding a Champions League ban, they still have a bottomless pit of cash.
What does the team need? The priority is a centre-back after missing out on Harry Maguire last summer. Vincent Kompany has still not been replaced and that, combined with the serious knee injury suffered by Aymeric Laporte, hurt City's chances of retaining their title. Pep Guardiola will also look to sign another attacking player with David Silva leaving after 10 years at the Etihad Stadium and Leroy Sane already sold to Bayern Munich for €49m.
Who are the major targets? Nathan Ake is expected to leave Bournemouth if they are relegated to the Championship. Sources have told ESPN that contact has already been made with Bournemouth about a proposed £35m deal but City are likely to face competition from Manchester United. Spanish winger Ferran Torres, 20, is another target and reports in Spain have suggested Valencia are ready to sell for around €40m with his contract running down.
Who could be leaving? Silva is going and Sane has already gone. Defenders Nicolas Otamendi and Joao Cancelo could also leave if the right offers come in, but Guardiola's aim will be to strengthen his squad in the next transfer window rather than weaken it.
Any new contracts coming? Sergio Aguero has a contract until 2021, but City are keen to extend it for at least another year. Aguero has repeatedly said he would like to end his career back in Argentina but, at 32, he is still a regular goal scorer in the Premier League. -- Rob Dawson.
Budget: £120m -- Chelsea are the ones making all the early moves as they have the resources to do so and their budget can be upped to over £200m if we include deals already done for Hakim Ziyech (£33.3m) and Timo Werner (£47.7m).
What does the team need? Frank Lampard is convinced Chelsea require another attacking option -- namely Bayer Leverkusen midfielder Kai Havertz -- despite having already signed striker Werner from RB Leipzig and forward Ziyech from Ajax, but surely they need to strengthen defensively to challenge for the title. A left-back and at least one centre-back would provide greater solidity, while there is a big call to make on their No. 1 goalkeeper: persevere with the erratic Kepa Arrizabalaga or cut their losses on the world's most expensive goalkeeper.
Who are the major targets? Sources have told ESPN that the club are expected to make an offer for the £90m-rated Havertz. Leicester City are also standing firm over their valuation of Ben Chilwell, with Ajax's Nicolas Tagliafico a cheaper alternative. Chelsea made initial contact with West Ham about Declan Rice but are yet to make an offer and are also keeping tabs on possible goalkeeping options including Manchester United's Dean Henderson and Ajax's Andre Onana. A loan deal for Barcelona midfielder Philippe Coutinho looks unlikely but hasn't been ruled out. However, interest in Borussia Dortmund winger Jadon Sancho has ended.
Who could be leaving? Pedro will join Roma once his contract expires this summer, while Chelsea are willing to allow several squad players to depart including Emerson Palmieri, Michy Batshuayi, Davide Zappacosta, Tiemoue Bakayoko and Victor Moses. Midfielder Jorginho has been repeatedly linked with a move back to Italy and a deal is possible but Lampard would prefer to retain him.
Any new contracts coming? Willian's future remains in the balance. Lampard wants to keep him; the Brazilian winger wants to stay but only on a three-year contract and Chelsea are yet to offer more than two years. The urgency around striker Tammy Abraham's contract receded when the club triggered an additional year extension meaning he now has three years left, but the 22-year-old is likely to seek recognition for his fine contribution this season and reassurance over the future following Werner's arrival. -- James Olley.
Budget: Between £100m and £150m.
What does the team need? You can argue that there are still a number of areas of the squad that need strengthening but the priority is a right-sided forward and a centre-back, preferably left-footed. Manager Ole Gunnar Solskjaer has put together a strong starting XI but if United are going to challenge for major trophies, he needs more strength in depth.
Who are the major targets? United want to sign Jadon Sancho from Borussia Dortmund and they are convinced the England winger wants to move to Old Trafford if they can agree a fee. In a post-coronavirus transfer window, that will be the major sticking point. Sancho still has two years on his contract and Dortmund are under no pressure to sell.
United are reluctant to spend £100m on a player while they are yet to discover the full effect of COVID-19 on the club's finances but so far Dortmund have not budged from their £118m valuation. Sources told ESPN that they are hoping to make a deal at around £80m, plus add-ons. Solskjaer is also a fan of Bournemouth defender Nathan Ake but United will have to compete with Manchester City. Napoli's Kalidou Koulibaly, Aston Villa's Tyrone Mings and Milan's Alessio Romagnoli are among the names also being monitored in defence.
Who could be leaving? United are open to agreeing new loan deals for Chris Smalling and Alexis Sanchez after the pair spent the season in Italy with Roma and Inter Milan, respectively. Phil Jones has barely played this season and will have to move if he wants regular first-team football. Barcelona have shown an interest in Diogo Dalot and the Portuguese has fallen behind Aaron Wan-Bissaka, Luke Shaw, Brandon Williams and Timothy Fosu-Mensah in the pecking order for the two full-back positions. Marcos Rojo left on loan in January and Boca Juniors are interested in signing the defender permanently.
Any new contracts coming? United's priority is to tie down Paul Pogba, but the club are relaxed about the Frenchman's future. He has a year left on his contract at Old Trafford and United have the option to extend by another 12 months until 2022, which they will exercise at some point next season. United are also open to offering goalkeeper Dean Henderson fresh terms to reflect his development on loan at Sheffield United and to ward off interest from Chelsea. -- Rob Dawson.
Budget: £20m -- Manager Brendan Rodgers has admitted that transfer funds are likely to be limited and he could have as little as £20m to spend on new players this summer. That figure will rise if Leicester raise funds with player sales but they missed out on the cash for Champions League football.
What does the team need? The focus will be on bolstering the squad's attacking options, with Rodgers and director of football Lee Congerton targeting forwards and wingers. Leicester's heavy reliance on the goals of the 33-year-old Jamie Vardy was borne out this season, with the team's lengthy slump since the turn of the year coinciding with the former England forward's goal drought.
Only Vardy was able to take his Premier League goal tally into double figures and Rodgers has made it a priority to find a reliable goal scorer to take the pressure of his most important player.
Real are prepared to sell or loan Serbia international Jovic following his dismal first season at the Bernabeu after arriving in a €60m move from Eintracht Frankfurt last summer. Jovic scored just two goals last season for Real, but his track record from his time at Frankfurt has ensured that he still has admirers, with Napoli, AC Milan and West Ham all linked with the 22-year-old.
Benrahma, 24, is also attracting Premier League interest, with Arsenal and Chelsea both monitoring the Algerian, who has been a key figure in Brentford's push for promotion to the Premier League. Predominantly a left-winger, who can also play as a central striker, Benrahma is rated at £30m by Brentford.
Who could be leaving? Rodgers has repeatedly insisted that Ben Chilwell is not for sale, but the England left-back is a priority for both Chelsea and Manchester City, so Leicester could significantly bolster their transfer funds by selling the £80m-rated defender.
Demarai Gray may also be allowed to leave following the former Birmingham forward's failure to earn a regular starting spot under Rodgers. Islam Slimani and Adrien Silva, both on loan at Monaco, are available for transfer, with both suffering nightmare spells at the King Power Stadium since completing big moves to the club in 2016 and 2018 respectively.
Any new contracts coming? Leicester are keen to extend the contracts of James Maddison and Caglar Soyuncu in a bid to stave off interest in the pair, despite both having three years left to run on their deals. Rodgers also wants to reward Jonny Evans with a new deal as the 32-year-old former Manchester United defender has played in every league game for Leicester this season. -- Mark Ogden.
Budget: £50-60m. Jose Mourinho is still looking to get a few players to strengthen his squad and will have money to spend.
What does the team need? When he joined Tottenham to replace Mauricio Pochettino in November, Mourinho said that he didn't want to spend any money in January as he was very happy with his squad. Yet, he still signed Steven Bergwijn for £25m, made Giovanni Lo Celso's loan permanent for £30m and took 21-year old Portuguese midfielder Gedson Fernandes on loan for 18 months with an option to buy. Now, Mourinho is saying that his squad "doesn't need major investment." Though one position he really wants to invest in is in midfield, and he could also do with a right-back, centre-back and backup striker.
Who are the major targets? Mourinho is a long admirer of Pierre-Emile Hojbjerg. Everton are also chasing the Southampton midfielder so Tottenham will have to be quick and table a £30m offer if they want to get him. Sources have told ESPN that they will try to incorporate in the deal full-back Kyle Walkers-Peters, who has been on loan with the Saints this season. If they can't get him, another midfielder Mourinho and his team are keen on his Boubakary Soumare from Lille. The France U21 international has been on Spurs' radar for a while but his price (around £50m) could be too high.
At right-back, Serge Aurier could leave with two years left on his deal and Mourinho personally called Thomas Meunier to try to hijack his free transfer to Dortmund but didn't succeed. Timothy Castagne (Atalanta) has been scouted a few times, while sources have told ESPN that Mourinho likes Norwich's Max Aarons. At centre-back, the Portuguese manager would like to be reunited with Chelsea's Kurt Zouma, if the club let him depart.
Up front, Harry Kane will not leave this summer and he needs a backup. Sources said that Leicester's Islam Slimani has been offered to Spurs, while Napoli's Fernando Llorente is an option to return to the club as well. Tottenham spoke to Lille striker Victor Osimhen's agent before the Nigeria international agreed to join Napoli, but his £75m price tag was too much for Tottenham.
Who could be leaving? Jan Vertonghen and Michel Vorm are leaving the club on a free when their contracts expire this summer, while Juan Foyth could be sold. But the biggest issue is Tanguy Ndombele. The France international has clashed with Mourinho many times this season and has told the club he won't play for the manager again. Ndombele is the club's most expensive signing (£65m last summer) and the second highest earner behind Kane. It will be hard to find a club ready to pay those numbers, so a loan with an option to buy or obligation to buy seems the only possibility. A few clubs like him, such as PSG, but there is still a long way to go.
Any new contracts coming? The club has recently extended Toby Alderweireld's contract until June 2023 and Eric Dier's until June 2024. Sources have told ESPN that talks with goalkeeper Hugo Lloris, whose deal expires in June 2022, could start in the coming months. -- Julien Laurens.
Budget: Less than £30m -- if they win the FA Cup and gain entry to the Europa League next season it may be a little more.
What does the team need? Centre-backs and a central midfielder. David Luiz silenced some of his critics in Arsenal's FA Cup semifinal win over Manchester City but even allowing for William Saliba's arrival from Saint Etienne, Arsenal's current crop has to be improved upon. Arsenal have also lacked a powerful, physical presence in central midfield for years and this is known to be an area manager Mikel Arteta has identified. They will also need another forward if Pierre-Emerick Aubameyang does not sign a new deal and is sold.
Money is tight and although qualification for the Europa League by winning the FA Cup would help, the club are relying on swap deals, loan deals and player sales to maximise their budget.
Who are the major targets? The Gunners have been tracking Atletico Madrid's Thomas Partey for some time but the latest noises from Spain suggest the €50m-rated midfielder will sign a contract extension. If so, sources have told ESPN that Porto midfielder Danilo Pereira is viewed as an alternative option they may pursue. Arsenal have scouted several centre-backs including Barcelona's Samuel Umtiti and RB Leipzig's Dayot Upamecano, but they won't come cheap. Celtic striker Odsonne Edouard is one possible option as a replacement for Aubameyang.
Who could be leaving? Arsenal will encourage offers for Mesut Ozil but the midfielder would prefer to stay in north London and clubs will struggle to meet his £350,000-a-week wage for any loan deal. Matteo Guendouzi's future is also uncertain after falling out of favour under Arteta, while Alexandre Lacazette's situation is linked to Aubameyang's. He has two years remaining on his deal and Arsenal will not allow both the Frenchman and Aubameyang to leave in the same summer. Back-up goalkeeper Matt Macey could be allowed to depart given he has 12 months remaining.
Any new contracts? With his contract expiring in 2021, Aubameyang's future is in the balance but both parties are working towards a deal. It is not an exaggeration to say the 31-year-old's decision will set the tone for Arsenal's summer. If he stays the Gunners can build around him, but if no agreement is reached Aubameyang could be sold to help fund a rebuild. Dani Ceballos is expected to extend his loan stay from Real Madrid for the 2020-21 season, while Emiliano Martinez could be rewarded for his fine form deputising in goal for the injured Bernd Leno towards the end of the season. -- James Olley.
Budget: Barcelona will only be able to use money from sales to make signings or via swap deals. Every summer the Catalan club have between €60-75m to be spend on new players, in addition to any money generated by departures, but it has been wiped out due to coronavirus pandemic's impact on the financial markets. But they had already agreed to sign forward Francisco Trincao from Braga for €31m before the coronavirus crisis hit, which may affect their budget.
What does the team need? Having already signed Miralem Pjanic from Juventus (in a swap deal with Arthur Melo which saw them net €12m) to bolster the midfield, they are still looking for a top forward, a left-back to replace Junior Firpo if he leaves and a centre-back who could become the long-term replacement for Gerard Pique. They might also need a right-back if Nelson Semedo is sold, or swapped.
Who are the major targets? Lautaro Martinez is the top priority to bolster the attack ahead of Neymar as they have identified the Inter Milan striker as the perfect man to replace Luis Suarez long term. The problem is that Inter will only let him go for his €111m release clause, so they will have to creative if a deal is to be done. Meanwhile, Barcelona are also closely monitoring the situation of 19-year-old Manchester City centre-back Eric Garcia and could try to re-sign him as his contract at the Etihad Stadium will expire in 2021.
Who could be leaving? Philippe Coutinho, Samuel Umtiti, Junior Firpo, Arturo Vidal, Martin Braithwaite, Ivan Rakitic, Jean-Clair Todibo, Ousmane Dembele ... Almost every player in the squad is up for sale if the right offer comes along, except for the trio of Lionel Messi, Marc-Andre ter Stegen and Frenkie de Jong.
Any new contracts coming? Messi is out of contract in 2021 and Ter Stegen in 2022 so the club are keen to tie them to new deals soon. Rakitic has only one year on his contract but Barcelona don't plan to offer him a new deal and will try to sell him this summer to avoid losing him for free in 2021. Semedo's situation is a tricky one as Barcelona are willing to listen to offers for the Portugal international, but if he doesn't leave this summer then the club will try to extend his contract as his deal expires in 2022. -- Moises Llorens and Sam Marsden.
Budget: None. The club expect total losses of €200-300m due to the pandemic and have no plans to spend.
What does the team need? Madrid had hoped to add a central midfielder and ideally a centre forward to their ranks this summer, but those plans have been put on hold. Fortunately, they already have an impressive squad with remarkable strength in depth, boasting as many as 36 first-team players including those who have been out on loan.
Who are the major targets? Plans to sign Napoli's Fabian Ruiz (first reported by ESPN in November) have been postponed, while moves for megastars Kylian Mbappe or Erling Haaland will have to wait until 2021 at the earliest. President Florentino Perez confirmed in the aftermath of Madrid's La Liga title win that there would be no significant signings this summer. The club's efforts will instead be focused on departures and managing the roster of loanees.
Who could be leaving? There's plenty of work to be done here. Madrid will look to bring cash in where they can, with Achraf Hakimi's €40m sale to Inter the first deal to be motivated primarily by finances. Coach Zinedine Zidane would love to get rid of Gareth Bale and James Rodriguez, although Bale's agent Jonathan Barnett continues to insist that the Welshman is happy and intends to see out his deal until 2022. Finding a buyer for James should be more straightforward with interest from the Premier League and Serie A.
In attack, Zidane isn't keen on either Luka Jovic or Mariano Diaz, but may have to keep at least one of them to provide competition for Karim Benzema. Playmaker Brahim Diaz should go out on loan, Martin Odegaard is expected to spend a second year at Real Sociedad, and the exciting Takefusa Kubo will go on loan to another Primera club after impressing at relegated Real Mallorca. Decisions must also be made on Dani Ceballos, Oscar Rodriguez, Sergio Reguilon and Alvaro Odriozola.
Any new contracts coming? Sergio Ramos and Luka Modric, both now 34, each have a year left on their deals, although sources have told ESPN that both players and club are calm about their situations. Ramos is expected to agree a bumper new contract this summer, while Modric has said he would like to retire at the club and will stay until at least June 2021. -- Alex Kirkland and Rodrigo Faez.
Budget: Will be dictated by how much is raised from player sales.
What do they need? Juventus need to lower the average age of their squad and desperately get some of the high-earning fringe players off the wage bill. Last summer, they tried unsuccessfully to sell off some of their squad players on big money and that will likely be the aim again this time around. In terms of where they can improve, they will be looking at the central midfield area as well as perhaps the full-back slots.
Who are the major targets? Arthur Melo is already arriving from Barcelona, in a €72m swap deal for Miralem Pjanic (valued at €60m), and the Brazilian midfielder will likely have the same role Jorginho had at Napoli and Chelsea under Maurizio Sarri. In January, Juve signed forward Dejan Kulusevski for €35m from Atalanta, but he remained on loan at Parma for the rest of the campaign. Other than that, it will likely be a summer where deals will be done only if the right opportunity presents itself.
Who could be leaving? Federico Bernardeschi and Daniele Rugani have not kicked on, while Blaise Matuidi could be allowed to leave if the right offer comes along. Meanwhile, Gonzalo Higuain's high wages mean the club are keen for him to leave, despite impressing when called upon this season, and question marks remain over midfielders Aaron Ramsey and Adrien Rabiot.
Any new contracts coming? Despite being on verge of joining Tottenham last season, Paulo Dybala's incredible form means he will be offered a new deal. Both veterans Gianluigi Buffon and Giorgio Chiellini have signed one-year extensions. -- Andrew Cesare Richardson.
Budget: The club have a maximum budget of around €140m to spend, while the players leaving will free around €40m in wages.
What does the team need? It has already been quite an eventful summer at PSG. With the permanent signing of Mauro Icardi for €50m, the loss of the two most talented prospects of their academy (Tanguy Kouassi and Adil Aouchiche) and the departures of Thiago Silva, Edinson Cavani, Thomas Meunier, Sergio Rico and Eric Maxim Choupo-Moting at the end of their contracts, the club have been really busy.
Sporting director Leonardo wants to make adjustments to the squad more than changing everything. A right-back, a defensive midfielder and, if there is money left over, a centre-back as well are required. Depending on Alphonse Areola's future once he returns from his loan at Real Madrid, a reserve goalkeeper might be also needed.
Who are the major targets? Sources have told ESPN that the club want RB Leipzig right-back Nordi Mukiele; while Adam Marusic (Lazio), Timothy Castagne (Atalanta) and Sergino Dest (Ajax) are also of interest in that position. In midfield, Leonardo is keen on Milan's Ismael Bennacer, but other clubs like Manchester City are following him closely. Tanguy Ndombele (Tottenham), Lorenzo Pellegrini (Roma), Wilfried Ndidi (Leicester) and Thomas Partey (Atletico Madrid) are also on the shortlist. Lazio star Sergej Milinkovic-Savic has always been on the radar but he is very expensive at €100m and is a different profile to the others. At centre-back, Milan Skriniar (Inter Milan), Kalidou Koulibaly (Napoli) and David Alaba (Bayern) fit what PSG are looking for.
Who could be leaving? After losing Kouassi and Aouchiche on free transfers, the club are trying to sell Julian Draxler and Jese. Leo Paredes has some support inside the club but could be sold if another midfielder arrives.
Any new contracts coming? The best news so far this summer is that Kylian Mbappe and Neymar will be at PSG next season. They have confirmed it publicly and to the club too. PSG are hoping to extend their deals which come to an end in June 2022 at some point in the next year. Talks are yet to start with Angel Di Maria or Juan Bernat whose contracts expire in June 2021, while Presnel Kimpembe, Marquinhos, Marco Verratti and Layvin Kurzawa have all extended their deals in recent weeks and are now tied to the club until June 2024. -- Julien Laurens.
Budget? Dependent on player sales, but there's about €30m available.
What does the team need? With Leroy Sane already signed from Manchester City for €49m, much will now depend on who leaves Bayern. With Thiago Alcantara and David Alaba both weighing up their futures, Bayern's summer plans will be steered by this. Regardless of departures, the club have targeted a new right-back. They moved quickly in January to snap up goalkeeper Alexander Nubel from Schalke and promising young centre-back Tanguy Nianzou Kouassi from PSG, both on free transfers.
Who are the major targets? Sergino Dest is their No. 1 target at right-back, with the Ajax defender on a number of teams' radars. With Bayer Leverkusen's Kai Havertz closing in on a move to Chelsea, Bayern's recruitment will be influenced by who leaves with Leipzig's impressive young defender Dayot Upamacano frequently linked.
Who could be leaving? This is going to be fascinating. Midfielder Thiago has been linked with a move to Liverpool, but Bayern are holding out for his full transfer value of close to €50m. Bayern CEO Karl-Heinz Rummenigge is adamant players will not be sold on the cheap which may price some out of a move, but Alaba could also be leaving if the price is right, with Manchester City monitoring.
If Thiago leaves then Bayern will likely turn to French midfielder Corentin Tolisso to step into his shoes. If Alaba departs, they'll want Lucas Hernandez to fulfil his promise after last summer's €80m arrival from Atletico Madrid. Javi Martinez, whose contract is up in 2021, looks set to move on, but Jerome Boateng is expected to stay for next season.
Then there is Bayern's loan contingent. They did not take up the €120m option to sign Philippe Coutinho from Barcelona and it looks unlikely they will meet Inter's asking price for winger Ivan Perisic. Alvaro Odriozola, who arrived in January from Real Madrid, will likely return to the Spanish giants but his long-term future there is uncertain.
Any new contracts coming? All major players are contracted for next season but Bayern will be mindful of Boateng, Martinez, Alaba, Sven Ulreich and Thiago's long-term futures with all of their deals up in June 2021. -- Tom Hamilton.