Nottingham Forest are bracing for Newcastle United to return once more with an offer for Anthony Elanga, with a specific sum required for negotiations to become serious.
Nuno Espírito Santo’s side could shape up very differently come August as the stars of the Forest squad begin to garner interest from elsewhere.
Neco Williams has caught the eye of AC Milan and remaining in the Serie A, Napoli are looking at Callum Hudson-Odoi to build on their title-winning campaign.
Elanga looks to be next on the list to be offered a move away from the City Ground, but Evangelos Marinakis won’t entertain Newcastle’s advances without a sizeable fee.
Photo by Michelle Mercer/Newcastle United via Getty Images
Photo by Michelle Mercer/Newcastle United via Getty Images
Nottingham Forest set price for Anthony Elanga
In what has been a lengthy pursuit, Newcastle showed interest in Elanga back in the summer transfer window, but Marinakis wasn’t willing to discuss the deal.
Reports at the time suggested that Newcastle were willing to pay £35m for Elanga, which, according to the latest update on the Magpies’ fresh interest, won’t come close to meeting Forest’s valuation.
According to the Daily Mail: “Newcastle have made an enquiry to Nottingham Forest over a deal for Anthony Elanga. […] While discussions are at an early stage, the Magpies are now pursuing a move for the 23-year-old winger.
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“Sources say Forest would demand a sizeable fee for the Sweden international – who has three years to run on his contract – if he indicated he wanted to go. […] It would take upwards of £50m for movement this time.”
Elanga was brilliant for Forest last season, delivering 18 goal contributions in the most productive campaign of his career. Newcastle will have to cough up a serious sum, then, one that could push Eddie Howe’s side to the brink of their PSR limit.
How Newcastle’s PSR status could impact a move for Anthony Elanga
Forest’s PSR struggles are behind them going into the transfer window this summer, but Newcastle’s situation is less comfortable, especially if they’re serious about a move for Elanga.
The Premier League’s profit and sustainability regulations have added a new level of intrigue to the transfer market.
Your club might have the cash, but do they have the PSR wiggle room?@CWeatherspoon_ looks at every Premier League side.
— The Athletic | Football (@TheAthleticFC) June 5, 2025
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According to The Athletic, Newcastle would be able to lose a projected £83m and still fall below the line of a PSR breach, so signing Elanga would represent the only significant transfer fee they could spend comfortably.
There’s no doubt that Marinakis will know this as well, so if Newcastle are truly set on a move for the Swedish international, the Forest owner will make sure to stretch their budget as thin as possible