Hojlund transfer sparks valuation questions
Rasmus Hojlund’s move to Napoli this summer brought Manchester United a £43.2million fee, but new analysis suggests the club may have left money on the table. According to the CIES Football Observatory, the Danish striker’s current market value stands at £110m—a figure that, if accurate, means United could have charged £66.8m more than they received.
Hojlund joined United from Atalanta in 2023 in a deal worth up to £72m. His first season at Old Trafford showed promise, with 10 Premier League goals in 30 appearances, but the 2024/25 campaign proved far more difficult. He scored just four times in 32 league games, while strike partner Joshua Zirkzee managed only two in 24, as United finished 15th in the table.
Loan obligation triggered by Serie A form
After a challenging second season, Hojlund was loaned to Napoli for 2025/26. The agreement included an obligation for the Italian club to make the move permanent for £43.2m, subject to conditions being met. Those conditions were fulfilled—Hojlund scored 12 goals and provided six assists in Serie A—and Napoli confirmed the permanent transfer.
CIES’s valuation methodology takes into account the financial capacity of the most likely buyer, a margin of 7.5% above or below the player’s value, 100% of economic rights including add-ons, and the same level of inflation as the past two transfer windows. The observatory does not factor in potential buy-out clauses.
The gap between the £43.2m fee and CIES’s £110m estimate has led some to question whether United short-changed themselves in negotiations, though the club may factor in the player’s inconsistent Premier League form when assessing the deal.
Kambwala’s Como loan could yield future profit
In a separate development, Manchester United could receive a financial boost from the departure of a former defender. Willy Kambwala, a 21-year-old centre-back, left United for Villarreal in 2024 after making just ten senior appearances for the Red Devils. His time in Spain has been difficult—he managed only 23 first-team appearances for Villarreal—and he is now set to leave the club.
According to Fabrizio Romano, Italian side Como have reached a verbal agreement to sign Kambwala on loan. Como, managed by Cesc Fabregas, are preparing for the 2026/27 UEFA Champions League season and have inserted a €10m (£8.6m) buy option into the loan deal, though the clause is not mandatory.
Should Como trigger the option, Manchester United would receive a cut of the profit from any permanent transfer. That could happen during the winter transfer window or next summer.
United’s summer business continues
The Kambwala loan comes as United continue their summer transfer activity. The club recently completed a third midfield signing, Carlos Baleba, and are reportedly prioritising moves for another central midfielder and a left-back. While Hojlund has been their biggest sale this summer, the future of Marcus Rashford remains uncertain, with the forward more likely to stay than leave as the transfer window approaches its final week.
United’s preparations for the new season were dealt a setback on Saturday with a 2-0 loss to Hull City, but the club’s focus remains on strengthening the squad before the window closes.