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Football Italia Transfer Show: July 19, 2026

It’s been another day with plenty of juicy updates from Serie A, starting with Corriere dello Sport’s report that Nico Paz’s decision to stay at Como for one more season has upset Real Madrid, who still want to bring the Argentine back to the Bernabeu and have warned Cesc Fabregas’ side that they’ll need to pay €60m to remove Madrid’s buy-back option.

According to Gazzetta, Juventus have sounded out Paulo Dybala’s availability to return to Turin as contract extension talks between La Joya and the Giallorossi are still stalling and the striker’s contract expires on June 30, 2026.

Inter are keen on Liverpool’s Curtis Jones, but the Reds are reluctant to let the Englishman leave for less than €30m.

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Genoa have officially announced the return of Tommaso Baldanzi in a permanent deal from Roma following a successful loan spell under Daniele De Rossi in the second half of the 2025-26 season. 

The 23-year-old has returned to Genoa on another initial loan, although this time for the whole of the 2026-27 season, in a deal that also includes an obligation to buy. 

Reports earlier this week indicated that Genoa’s obligation to buy clause will be in the region of €9.5m. It is believed that Baldanzi will sign a contract until the end of the 2029/30 season once his obligation to buy clause has been triggered. 

This is the third time that De Rossi has signed Baldanzi: Initially bringing him to Roma from Empoli almost immediately after his appointment as Giallorossi head coach in 2024. De Rossi also brought Baldanzi to Genoa on loan in January and he is now back for a third stint for the 2026-27 season onwards. 

He will continue to wear the no.8 shirt for Genoa heading into the 2026-27 campaign. 

Baldanzi returns to Genoa on a permanent deal from Roma: Club statement 

“Genoa CFC announces the completed return of Tommaso Baldanzi from AS Roma,” read a statement. 

“The transfer will consist of a loan and an obligation to buy. The 2003-born midfielder, who arrived on loan with an option to buy from the Giallorossi during the January transfer window, proved to be an important figure in the team’s attacking play during the second half of the season, racking up eight appearances and two assists for the Rossoblu. 

“Tommaso will be a big player for the Grifone in the 2026-27 season.” 

Baldanzi himself added: “I’m thrilled to be able to continue this adventure in the Grifone shirt. I can’t wait to get back on the pitch in these colours. 

“I feel like I have a lot to give, and I know that I still have a lot to prove in front of the Rossoblu fans, who made me feel right at home from my first day here in Genoa.”

Fabio Capello is celebrating his 80th birthday on Thursday and has named the best players he has worked with in his career to date, the best ‘pupil’ that he has taught and has looked back on his most memorable highlights from a career that spanned over 50 years. 

Capello’s 80th birthday interview: ‘Herrera lightyears ahead, Cassano made me too angry’

As a player, Capello was a four-time Scudetto winner and lifted trophies with Roma, Juventus and Milan, before embarking on a managerial career that would take him back to Milan, Roma, Juve but also to Real Madrid, and the England and Russia national teams. 

Capello won nine trophies while in charge of Milan, including the 1993-94 Champions League, two league titles with Real Madrid, two trophies with Roma and two league titles with Juventus that were later revoked. 

Speaking in an interview with La Gazzetta dello Sport, Capello says that there are three main coaches that have given him the most inspiration. 

“I tried to take something from all of their methods. I copied a lot from (Helenio) Herrera, a great motivator, lightyears ahead of the rest. I won my first trophy with him, the Coppa Italia in 1969, beating Cagliari with Riva, the greatest striker around by some distance. 

“(Nils) Liedholm, on the other hand, made you believe that you wanted to do something, even if it was actually just him who wanted you to do it. 

“(Nereo) Rocco understood football brilliantly. He was very direct, no beating around the bush.” 

And what are Capello’s favourite memories from his playing career?

“The early days,” he replied. “The first trophies: The first Coppa Italia, the first Scudetto with Juve, putting the star on the shirt with Rivera’s Milan, the strongest team I played in. 

“As a coach, the best feeling of all was the 1994 Champions League which we won against all odds, so that was even more beautiful.” 

Capello says that De Rossi was his best ‘student’, i.e. players that he has coached that have gone on to have their own coaching career. 

“If I have to name one, I would say De Rossi. I gave him his debut at Roma, I invested a lot in him, so out of affection, I would say Daniele.” 

And who is the best player that Capello has had the honour of coaching?

“Ronaldo, o Fenomeno. He was an absolute champion. It’s a shame he didn’t want to make any more sacrifices. And in Madrid, they forced me to sell him. 

“Another out-of-this-world talent was Cassano, but he made me too angry: A talent that was lost.” 

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Italy international Marco Palestra is expected to join Inter by next week, as the newly crowned Serie A champions had a positive meeting with Atalanta on Thursday and are close to reaching an agreement over the full-back’s transfer fee.

Inter have moved quickly to replace Denzel Dumfries, who will move to Real Madrid for €20m.

Serie A transfer round-up June 18

Inter’s city rivals Milan are still looking for a director of football and a sporting director, and the uncertainty regarding the club’s management has unsettled some key members of the team, such as Mike Maignan and Adrien Rabiot, according to Gazzetta and Corriere dello Sport.

Both Frenchmen are reportedly considering leaving Milan this summer, even though they have not yet made any public statement about their intentions, unlike their teammate Rafael Leao.

Jonathan David, on the other hand, wants to stay at Juventus to prove his worth in 2026-27, and according to Gazzetta, the Canadian’s stance complicates the Bianconeri’s search for a new centre-forward.

Roma remain keen on Mason Greenwood, and it is cheaper for the Giallorossi to sign the Englishman by the end of the month than from July 1.

As reported by Gazzetta, Marseille might be forced by financial difficulties to accept a €50m fee, including add-ons, to sell Greenwood before June 30, while, from July 1, a €60m clause will activate for the ex-Manchester United winger.

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Reports in Italy claim that Roma are prepared to increase their current offer for Mason Greenwood, but there is a race against time to strike a deal with Marseille, who must raise funds before the end of the month to comply with FFP regulations. 

Where Roma stand in negotiations for Greenwood

Roma have been targeting the signing of former Manchester United forward Greenwood for several weeks and recent updates claim that there is an agreement in principle on personal terms with the 24-year-old for an initial salary of €4.5m per season, which could rise over the years. 

Roma have not yet come to an agreement with Marseille as things stand, though. Reports in Italy claim that Marseille value the Englishman in the region of €50m-€55m, while the Giallorossi have tabled an offer of €40m made up of an initial €5m loan fee, a €25m transfer fee and guaranteed bonuses of €10m. 

According to Thursday’s reports from the Corriere dello Sport, Roma are prepared to raise their offer to €45m including bonuses. 

Marseille, meanwhile, have been left needing to sell players in order to raise funds to comply with FFP regulations. Roma themselves learned on Wednesday that they will be fined €6m for failing to comply with the terms of an FFP settlement agreement during the financial year ending in 2025, but for Marseille, the situation is more severe and the club risk being excluded from UEFA competitions for the next three years if they do not raise funds before the end of June. 

From a budgeting perspective, it is important to remember that if Marseille were to sell a big-name player like Greenwood, they would be able to record a capital gain in full on their accounts for the current season, Meanwhile, if Roma were to sign Greenwood, they would be able to spread the cost of his purchase over several years of the player’s contract in the club’s accounts. 

Roma hope that the deadline for Marseille to raise funds will play into their hands and that the French side may be forced into lowering their asking price within the next few days. 

There is still pressure on Roma to get a deal done, as there have been suggestions that Atletico Madrid are also interested in a potential deal for Greenwood this summer.

Wednesday’s reports indicate that Tommaso Baldanzi is all set to join Genoa on a permanent basis after spending the second half of the 2025-26 season on loan from Roma. 

Genoa set to sign Baldanzi on loan with obligation to buy from Roma

Baldanzi joined Genoa on loan with an option to buy during the January transfer window, and despite making just eight appearances under Daniele De Rossi in the second half of the 2025-26 season, the Grifone have renegotiated with Roma and are set to sign the 23-year-old in a permanent deal. 

According to reports from TMW, Baldanzi will rejoin Genoa on another loan deal, but this time with an obligation to buy for a fee of €9.5m. 

This is a slightly lower figure than the option to buy that Genoa negotiated during the January transfer window. 

Wednesday’s reports claim that Baldanzi will sign a contract that will keep him with Genoa until the summer of 2030. 

Baldanzi was originally brought to Roma from Empoli by Genoa head coach De Rossi during the winter transfer window in 2024 in a deal reported to be worth €10m plus bonuses. 

UEFA have confirmed that Roma will be fined for a breach of FFP rules during the financial year ending in 2025, but Milan and Inter have met the terms of their agreements with European football’s governing body and will not be punished. 

Roma fined €6m by UEFA

UEFA imposed a series of restrictions upon Roma for the years spanning from 2022 and 2026 following a breach of financial fair play regulations during the 2021-22 season. The exact terms of the settlement agreement can be read on the UEFA website. 

UEFA have confirmed that in the financial year ending in 2025, Roma ‘slightly exceeded’ their interim financial targets and as a result, have been handed a €2m fine. 

Additionally, Roma broke UEFA’s squad cost ratio in the financial year ending in 2025, exceeding the required 70% limit, and for that breach, the Giallorossi have been fined a further €4m. 

Inter and Milan have also been operating under settlement agreements with UEFA, but according to Sky Sport Italia, they have fully complied with the regulations set out to them and will not face any further punishments.