Arsenal may have to strike an alternative agreement with Bayer Leverkusen for defender Piero Hincapie due to a lack of "wiggle room" with UEFA's financial rules, Charles Watts believes.
Earlier this week, it was claimed that the Gunners were working on a deal to bring the wantaway Ecuador international to the Emirates, a surprise development following the capture of Eberechi Eze from Crystal Palace in a £67.5m transfer.
The signing of Eze took Arsenal's spending for the summer window close to the £250m mark, while they have only brought in £10.6m through the sales of Nuno Tavares and Marquinhos to Lazio and Cruzeiro respectively.
While the Gunners are optimistic of signing Hincapie for less than his £52m release clause, Watts has told Sports Mole that Arsenal might have to look at a loan agreement with an option or obligation to buy in 2026, as the club will have to balance the books to stay in line with UEFA regulations.
“It's not a bad deal financially," Watts said. "I thought after Eze it was all going to be about recouping some money. If you're selling Jakub Kiwior, it looks like you're going to be spending that money and more to bring in a replacement straight away. It has surprised me, but Mikel is very keen to have two players in every single position in this squad.
“The whole summer has been about not just raising the level of the XI, but the level of the squad. You can understand the appeal in it. It is dependent on a couple of departures; Kiwior to Porto sounds like it is getting closer to being agreed.
Arsenal have little "wiggle room" in UEFA's financial rules
Piero Hincapie of Bayer Leverkusen during his side's match against Stuttgart, on November 1, 2024
“Arsenal spent an awful lot of money, and it's not going to leave them that much wiggle room going forward. They’re fine with the Premier League, but UEFA is a lot tighter. There’s going to have to be some balancing of the books when you look sheer level of investment Arsenal have made this summer.
“But he looks like a very good signing. He’s quick, can play as an overlapping left-back, can play as that left-sided centre-back. It’s perfect cover for Kiwior. It does sound like he's more of a traditional left-back than what Arsenal have got in terms of hugging the touchline. If you’re planning to play Eze on the left and he likes to come inside, that's reasonable for accelerating this move.
“Whether they can get it done in some sort of loan agreement and then pay the money for him in next season's books, that might be a way around it. There’s some dealing to be done by Andrea Berta in the last days of the window. It will be interesting to see what he can get done.”
Arsenal have already reinforced their defensive ranks this summer with the signing of Cristhian Mosquera, who can operate as a left-sided centre-back, but the former Valencia man is seen as William Saliba's deputy in the right centre-back role first and foremost.
Instead, Bundesliga Invincible Hincapie would likely provide cover and competition for Gabriel Magalhaes in the left centre-back position - a role that Kiwior currently plays - as Riccardo Calafiori and Myles Lewis-Skelly are battling for left-back minutes.
Kiwior excelled in Gabriel's absence with a hamstring injury last season, but the Poland international is now expected to join Porto on loan with an obligation to buy, and he is likely to be one of a few players on the chopping block before the September 1 transfer deadline.
However, with Reiss Nelson, Fabio Vieira and Albert Sambi Lokonga still on the books, Arsenal currently have 29 players in their first team, while teams can only have a maximum of 20 players in a Premier League matchday squad - 11 starters and nine substitutes.
Has Arteta's Arsenal squad become too bloated?
Arsenal manager Mikel Arteta pictured on August 23, 2025
Nevertheless, Watts does not feel that size will be an issue, so long as Arteta does not revert to old ways and refuse to play players whom he has lost trust in.
“I don't think it's too bloated," he added. "There's definitely some - I hate describing players as this - but deadwood. Your Sambis, your Fabio Vieiras. They should get good moves and get their careers going again.
“We’ve seen good signs from Arteta so far. Both Premier League games, he's made five substitutions, some of them being injury-enforced but he's used his bench to the max. Martinelli started against Man Utd, doesn't play at all in the next game. Leandro Trossard doesn't play at all against Man Utd, comes on in the next game.
“As long as he gets everyone minutes constantly, uses these players that he's looked at and he's pushed to bring in, then I don't really see too much of an issue. The issue comes if he suddenly goes back to what we've seen, loses trust in players and then he's got to choose from a squad of 15, 16, 17, rather than 20, 21.
“What’s going to be important is whether Mikel does trust these players enough to really be able to use them, give them the minutes that they need to stay in rhythm and not become a problem or disillusioned behind the scenes.”
Hincapie has come up with seven goals and five assists in 166 matches for Leverkusen in all competitions, and the 23-year-old made 26 Bundesliga appearances during Leverkusen's 2023-24 Invincibles year.
> Click here to listen to the full discussion on Arsenal's rumoured interest in Hincapie
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