Every transfer window produces clear winners and equally clear regrets. With deadline day fast approaching, here’s how the 2026 summer is shaping up so far.
## Winner: Newcastle United
Rather than cashing in on their best asset, Newcastle committed £75m to keeping Bruno Guimarães at St James’ Park. In a market where top clubs routinely lose their standout players, that kind of statement of ambition deserves credit.
## Winner: Arsenal
The Community Shield hinted at why Arsenal look dangerous this season. A 3-0 demolition of Manchester City, built on a blistering start through Riccardo Calafiori and a dominant midfield performance from Martin Ødegaard, showed a squad that already knows its identity heading into the new campaign.
## Loser (For Now): Manchester City
Enzo Maresca’s first competitive game in charge exposed real problems. Rodri’s continued absence left a gaping hole in midfield that new signing Elliot Anderson could only partly cover. Until City add further reinforcement, question marks will linger.
## Undecided: Liverpool
Liverpool’s chase for Bradley Barcola has dragged on for weeks without resolution. If the deal finally closes before deadline day, it could prove one of the smarter bits of business in the league. If it collapses, Liverpool risk entering the season short of attacking depth following Mohamed Salah’s exit.
## Undecided: Atletico Madrid
Holding onto Julian Alvarez despite his publicly stated desire to leave protects Atletico’s competitive standing in the short term, but a prolonged stand-off with an unhappy star player rarely ends well for either party.
## What’s Still to Play Out
This list will look very different once the window officially closes. For the latest on which deals remain live, check our deadline day predictions, and for the numbers behind this summer’s biggest fees, our breakdown of 2026 transfer spending puts everything in context.
Transfer windows are judged in hindsight, not in real time. Check back after September 1 for the final verdict.