Atletico Madrid are closing in on the signing of Sporting Lisbon defensive midfielder Morten Hjulmand in a deal worth €40m plus add-ons.
Transfer expert Fabrizio Romano confirmed the news on X this morning, declaring the move a “here we go” situation as both clubs agreed to begin paperwork exchange immediately.
Romano posted: “BREAKING: Morten Hjulmand to Atlético Madrid, here we go! Sporting and Atléti agreed all terms and start paperwork exchange today for €40m fee plus add-ons. Danish midfielder joins until June 2031 and he will fly to Madrid TODAY.”
The deal represents a significant capture for Atletico, who have secured the Denmark international on a contract running until June 2031.
Arsenal had previously been linked with Hjulmand, with the Gunners known to have asked about his availability as they searched for midfield reinforcements this summer.
With the transfer now essentially done, barring any late surprises, Arsenal will have to turn their attention to other targets in their pursuit of a new midfielder.
The primary alternative on Arsenal’s radar is Newcastle United’s Bruno Guimaraes, though securing his services looks set to cost significantly more than the €40m Atletico are paying for Hjulmand.
Romano reported on July 8 that Arsenal had already seen bids of £55m and a £65m package both rejected by Newcastle, with the journalist suggesting a fee between £65m and £90m could be needed to accelerate talks.
Romano wrote that Guimaraes had already told Newcastle he wants to make the move to Arsenal, though the player will not be creating any unrest at the club in order to force a transfer through.
Guimaraes is Premier League-proven, which gives Arsenal some assurance about his ability to handle English football’s physicality and quality, something that cannot be guaranteed with a player arriving from Portugal.
Hjulmand is younger than Guimaraes and available at a considerably lower price point, meaning Arsenal could be reflecting on a missed opportunity to secure a highly-rated midfielder on the cheap.
Guimaraes turns 29 later this year, which raises questions about whether Arsenal should be committing close to £90m for a player entering the latter stages of his prime years.
If a deal for Guimaraes can be agreed in the £65m to £70m range, it would represent reasonable business for Arsenal, but any figure significantly beyond that makes it a substantial financial commitment.
Arsenal manager Mikel Arteta is clearly keen to strengthen the engine room this summer, and the club will now be pushing hard to get a Guimaraes deal over the line after missing out on Hjulmand.
