What went wrong with Man City’s “agreed” Chelsea full-back deal

A fortnight ago, this one looked close to being done. Now it looks like a stand-off.

Man City’s move for Chelsea right-back Malo Gusto has stalled over valuation, according to Fabrizio Romano, with the club unwilling to meet Chelsea’s £75m asking price despite Enzo Maresca’s well-documented admiration for the player.

Romano’s own framing was clear: City like Gusto, and Maresca knows him, but they are “not planning to spend £75m” at that number.

It’s a notable reversal of tone. City’s interest was always built on a genuine relationship — Maresca worked closely with Gusto during his time at Stamford Bridge and has been described as a firm advocate of his ability to play right-back, wing-back, or step inside into midfield.

That personal connection was the logic behind reports of “personal terms agreed” earlier in the window. A £75m valuation, which would make Gusto the most expensive full-back in history, appears to have been the sticking point City weren’t prepared to move past.

Bayern circling

Chelsea, for their part, aren’t under obvious pressure to sell. Reports out of Stamford Bridge suggest the club isn’t “actively looking” to move Gusto on, even with Marco Palestra’s arrival adding competition for his position. That gives Chelsea room to hold their ground and wait.

Bayern Munich have added a further layer of complication, having made their own enquiries into Gusto’s situation — competition City won’t want to see if the fee comes down later in the window.

Where does that leave Maresca’s right-back search? Unresolved, basically. City are understood to be prepared to explore alternatives if Chelsea’s price doesn’t move, though no names have been reported as advancing in Gusto’s place.

For now, this is a deal that looked like a formality a week ago and now looks like exactly the kind of valuation stand-off City have been willing to walk away from this summer.