Newcastle United have made an enquiry about Nottingham Forest winger Anthony Elanga as they look to resurrect a failed transfer from last summer.
Newcastle were in talks with Nottingham Forest last summer over Elanga as they looked to find a beneficial solution to their Premier League Profitability and Sustainability Rules problem.
Last June, Forest were unwilling to part with Elanga, who had enjoyed a positive first season at the City Ground following his £15million arrival from Manchester United.
Newcastle ended up striking a swap deal of sorts with Forest as they sold Elliot Anderson for a club-record fee of £35million while goalkeeper Odysseas Vlachodimos went in the opposite direction for the inflated fee of £20million.
Although technically two separate transfers, the effective player swap plus cash deal helped both clubs comply with PSR and avoid a points deduction. Forest had already been handed a points deduction during the 2023/24 season for breaching PSR.
Newcastle United in talks with Anthony Elanga over a potential move
Newcastle made an enquiry about Elanga earlier this month as they look to sign a right-winger this summer. The club have also sent representatives down to Nottingham to work on a potential transfer for the Sweden international.
But The Magpies face major hurdles when it comes to striking a deal for Elanga, who is a fan favourite at the City Ground.
The Sweden international contributed six goals and 12 assists during the 2024/25 season to help the club claim a seventh-place finish while also reaching the FA Cup semi-final. As such, the winger won’t come cheap for Newcastle.
But he already has several strong relationships at St James’ Park. He is international teammates with Alexander Isak and Emil Krafth and has a good friendship with William Osula, which developed through the pair sharing the same agency.
But after agreeing a swap deal of sorts with Forest last summer, Newcastle could entertain adding a player to negotiations to help sweeten the deal.
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Newcastle United have what Nottingham Forest need
Nottingham Forest will be competing in the Conference League next season and, as such, will have to adhere to UEFA’s squad rules.
Newcastle have found out first hand how European football can take its toll on a smaller squad. UEFA squad rules require clubs to name four club-trained players in order to fulfil a full 25-man roster.
The Magpies are set to be limited to just 22 players in the Champions League next season with Sean Longstaff, who has been linked with a move away from St James’ Park, the only senior club-trained player.
Newcastle have been linked with a move for former academy goalkeeper Fraser Forster to help bolster the squad and fill the club-trained player quota.
Forest are also facing a similar struggle with Ryan Yates the only senior club-trained player in their squad. Given, Forest aren’t used to European football and will be expecting to reach the latter stages of the competition while also remaining competitive in the Premier League, their squad may need bolstering.
And in that respect, Newcastle have just what Forest could be looking for.
The bizarre Newcastle United & Nottingham Forest swap deal that could unlock doors for both clubs
Newcastle want Elanga but the winger won’t come cheap with an asking price of around £60million.
The Magpies could facilitate a deal by agreeing another PSR swap with Forest that they can amortise over several years.
Forest will be open to signing club-trained players in order to bolster their European squad. And Newcastle have a Nottingham Forest club-trained player in their ranks in the form of club captain Jamaal Lascelles.
Lascelles, 31, joined Newcastle from Forest as a 20-year-old and has gone on to make over 250 appearances for the club. But a serious knee injury has prevented him from playing competitive first-team football since March 2024.
With just a year left on his contract, he holds no significant value to Newcastle in terms of a transfer fee. But he could prove a valuable player to Forest in their Conference League campaign.
While Lascelles hasn’t played competitive football in over a year, he would be a good rotation or Conference League option for Forest, who are likely to face low-level opposition in the group phase of the competition.
And that would provide Lascelles with an ideal run of games to get back to his best levels. It’s a Forest homecoming that would work for all parties.
Newcastle are looking to sign a right-sided centre-back this summer which will only push Lascelles further down the pecking order. The 31-year-old was replaced as Newcastle captain for the 2024/25 season by Bruno Guimaraes but still lifted the Carabao Cup at Wembley Stadium with the Brazilian despite being out injured.
In theory, Forest could pay a fee for Lascelles, which is more than Newcastle would get from any other club. Then Newcastle could use the Lascelles money to amortise an inflated fee for Elanga, which benefits both clubs.
Newcastle get the player they want, Forest get a significant transfer fee that they can reinvest into the squad and also a solid defensive option that fills a key quota. It unlocks doors for both clubs and the players involved while also breaking the PSR shackles once again.
Genius, or pure fantasy talk? We’ll let you decide.
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