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After financial fair play concerns stifled the January transfer market, what is the outlook for this summer? One club who have already strengthened are Real Madrid. The European champions have signed Kylian Mbappé on a free (but with a €125m signing bonus going to the player), while Brazilian sensation Endrick will join up with Carlo Ancelotti’s side this summer, 18 months after a deal was agreed with Palmeiras.

There have been coaching changes at several European heavyweight clubs already this summer. Vincent Kompany (Bayern Munich), Hansi Flick (Barcelona), Arne Slot (Liverpool), Enzo Maresca (Chelsea), Antonio Conte (Napoli) and Juventus’s incoming new manager, Thiago Motta, will all surely be planning to spend money on reshaping their squads.

Other Premier League sides have questions to answer too. Manchester United’s summer plans are uncertain with Sir Jim Ratcliffe apparently eager to rebuild, and Erik ten Hag still in the dugout (at time of writing). Newcastle need to keep balancing the books, Aston Villa have to strengthen for a Champions League campaign, while Manchester City and Arsenal may seek an early advantage in a third title battle.

Tottenham need an overhaul after running out of steam last season, and have already brought in Swedish rising star Lucas Bergvall; Brentford have spent £30m on striker Igor Thiago, which should free up Ivan Toney to move on. The promoted sides – Leicester, Ipswich and Southampton – also have to invest carefully to try and avoid the fate of last season’s trio.

Elsewhere on the continent, questions abound. How will PSG rebuild without Mbappé? Will Xabi Alonso look to upgrade his formidable Leverkusen side? How will Girona approach a first-ever Champions League campaign? And what next for the Saudi Pro League after they reshaped the transfer market last summer? We will have our answers by 30 August, when the window closes across Europe.