Manchester City are preparing to revive their pursuit of Chelsea right-back Malo Gusto in the upcoming January transfer window after the Londoners lowered their hefty summer valuation. The Etihad Stadium outfit previously walked away from negotiations when the Blues demanded a fee that would have shattered the world-record price for a full-back.
Reduced valuation tempts Etihad hierarchy
According to TEAMtalk, City remain keen on bringing the 23-year-old defender to the north-west this winter if Stamford Bridge chiefs soften their financial stance further. Chelsea previously priced their domestic rivals out of a summer move by demanding £70 million, a sum eclipsing the £57m world-record fee for a right-back that Paris Saint-Germain paid for Achraf Hakimi. However, those demands have recently dropped ahead of the mid-season market.
Financial case clouds winter recruitment
Gusto originally penned a seven-year deal with the west Londoners in January 2023 in a €30m (£26m) switch from Olympique Lyon, staying in France on loan before linking up with his new team-mates that summer. Tied down until June 2030, the Frenchman has featured five times in the Premier League and twice in the Carabao Cup during the 2026-27 campaign.
The report notes that City view the versatile full-back as an ideal long-term addition with plenty of room to develop, and they are ready to return to the negotiating table if the financial terms become more favourable.
However, any January approach hinges on the outcome of the club's ongoing financial rule-breaking case. Potential sporting sanctions from that hearing could restrict their ability to register new players and have created wider uncertainty around their winter transfer plans.
Squad depth softens Blues stance
At Stamford Bridge, fierce competition for places under head coach Xabi Alonso could persuade the board to cash in if an acceptable bid arrives.
Club captain Reece James remains the first-choice option when fit, while new Italian signing Marco Palestra, academy graduate Josh Acheampong and winger Pedro Neto, who has frequently filled in at right wing-back this term, all provide cover.
Although James is currently sidelined through injury, Chelsea expect their skipper to return in late January or early February, meaning his temporary absence is unlikely to block Gusto's exit or deter City from testing the waters.
January negotiations depend on price
Whether a winter transfer materialises will ultimately depend on City avoiding a recruitment ban and Chelsea settling on a realistic compromise fee. Having already lowered their initial £70m valuation, the Blues must decide how much is enough to sanction the departure of a reliable Premier League performer to a direct rival. Meanwhile, Gusto will continue battling for minutes under Alonso ahead of the window opening in the new year.