- Barcelona have terms agreed
- Cancelo ready to join the Spanish outfit
- But Barcelona's finances in disarray
WHAT HAPPENED? The Blaugrana have reportedly reached full agreement with Manchester City for a season-long loan including a purchase option for 2024. They have also agreed to personal terms with the player and he is ready to fly from Lisbon to complete his move.
THE BIGGER PICTURE: According to The Athletic, the move is still on track but has been delayed due to Barcelona's ongoing financial difficulties. The Catalan club were due to receive a payment from German firm, Libero Football Finance, for a commercial agreement reached earlier in August but the payment has not yet arrived.
AND WHAT'S MORE: President Joan Laporta and club treasurer Ferran Olive are now in the process of signing a bank guarantee which would see an inflow of €20 million (£17.2m; $21.7m) to the club coffers and enable them to complete the transfer. This would be the third instance that Barcelona chiefs have used this method to raise funds in times of need.
IN TWO PHOTOS:(C)GettyImagesGetty Images
WHAT NEXT? Barcelona are facing a race against time to inject more liquidity as they need to meet La Liga's Financial Fair Play (FFP) regulations. Currently, they do not have room to sign Cancelo but there is optimism that the deal will go through before the transfer window closes on September 1.