Welcome to the second edition of The Athletic’s Transfer DealSheet for the summer 2025 transfer window. Our team of dedicated writers, including David Ornstein, will take you inside the market to explain the deals being worked on in this window,

Arsenal have agreed a new fee to sign Spain midfielder Martin Zubimendi ahead of Real Madrid, according to reports. Mikel Arteta has made Zubimendi, 26, one of his top transfer targets this summer. The Real Sociedad star came close to joining Arsenal’s Premier League rivals Liverpool last summer but ended up rejecting the move.

Money is already flowing for the summer 2025 transfer window, so here are the most expensive signings that have been made so far.