Welcome to today’s edition of Slide Rule Pass — your concise, sharp read on the most pivotal European transfer activity as the 2025 summer window heats up. Let’s dive in.

Manchester United have reportedly agreed a £71 million deal for Brentford midfielder Bryan Mbeumo. They met Brentford’s valuation (a £65 million initial fee plus up to £6 million add-ons), choosing him over rivals like Arsenal and Spurs. Mbeumo joins to bolster their attacking midfield, operating as the right-sided No. 10 in Amorim’s system. The 26‑year‑old Cameroon forward, fresh off a 20-goal Premier League season, is set to bolster United’s attack ahead of the new campaign.

Liverpool are advancing on Eintracht Frankfurt's Hugo Ekitike, with a six-year contract reportedly agreed and a bid imminent. Simultaneously, they remain in the hunt for Real Madrid’s Rodrygo, targeting a €100 m move as they await clarity on Luis Díaz’s future.

Bayern Munich continue their summer evaluation, tracking Manchester United’s Marcus Rashford—though his £40 m valuation could be a hurdle. Meanwhile, they’re open to selling João Palhinha, drawing interest from Inter Milan.

Chelsea are reportedly preparing a swap deal involving Bayern’s highly rated centre-back Kim Min‑Jae and emerging talent Renato Veiga. Bayern’s chilly transfer activity is stirring debate behind the scenes.

Barcelona are pursuing creative midfielder Xavi Simons this summer, looking to rejuvenate their midfield after missing out on other targets.

Giovanni Reyna is reportedly set to complete a €6 m move to Parma from Borussia Dortmund, delivering on a unique echo of his father Claudio Reyna's history in Serie A.

Spurs have made their interest known in Bournemouth centre-back Illia Zabarnyi after PSG’s £55 million offer was rejected. This would mark their fourth defensive signing this summer. Deals for Morgan Gibbs‑White remain in limbo following Forest’s confidentiality concerns.

Bayern Munich’s market activity has been characterized by interest and inertia. They remain active on targets such as Luis Díaz and Marcus Rashford, but nothing has materialized yet. Meanwhile, Leverkusen target Malik Tillman is set to join on a permanent deal imminently.

AS Roma have submitted a formal offer for Hellas Verona’s 22‑year-old centre-back Daniele Ghilardi as part of a broader rebuild of their defensive ranks. With key defenders uncertain or departing, Gasperini is prioritizing a youthful addition with long-term potential.

Rayo Vallecano are preparing to offload one of their longest-serving forwards to a Qatari club as they gear up for Europa League competition. This emotional departure marks an early exit amid significant squad changes.

Manchester United make a statement with Mbeumo — but interest is frenzied across all top clubs. Arsenal’s attack is shaping up, Spurs continue rebuilding at the back, Liverpool eye major forwards, and Roma turn to youth solutions. Bayern remain unpredictable. The pace is picking up.