Sunderland actually could afford huge Fermin Lopez deal – here’s how
Written by Andrew Beharie on 19th November 2025
Christmas is coming and the Premier League transfer rumour mill is starting to churn out its first festive ‘forecasts’ – with Sunderland high on the list.
Andrew Beharie gives us a financial reality check.
Fermin Lopez of FC Barcelona: turns out Sunderland could afford his transfer fee.
The January transfer rumours are already flying like Christmas crackers, with the Black Cats heavily mentioned in dispatches.
Sunderland do have money to play with during the January transfer window, but what’s the financial reality check for their fans, amid talk of European superstars?
The Black Cats were one of the biggest spenders in the summer, lavishing £155m on 14 new additions, including the likes of super-cool Dutch goalie Robin Roefs and ex-Arsenal midfield general Granit Xhaka.
This spending is paying dividends for majority owner Kyril Louis-Dreyfus, as the Wearsiders find themselves in the Champions League places after 11 games.
Sunderland owner Kyril Louis-Dreyfus in the stands at the Stadium of Light.
However, it appears Sunderland’s spending hasn’t stopped there, as Louis-Dreyfus suggested on Sky Sports that he is preparing for the January window to help his side achieve a top-half finish.
Sunderland owner Kyril Louis Dreyfus says his club are targeting a top 10 Premier League finish:
️ “The stats showed that unless we do anything extraordinary (in the transfer window) we go back to down to The Championship.
️ And fortunately we were able to conclude many of… pic.twitter.com/UKWxpOiGLh— Keith Downie (@SkySports_Keith) November 3, 2025
But how are Sunderland able to spend even more?
The Premier League’s PSR financial rules state that over a three-year rolling period, clubs’ losses must remain within £105m if owners inject equity to cover part of them.
Clubs can get around these rules through amortisation, where transfer fees are spread out over the length of a player’s initial contract, as well as by selling off assets such as training grounds and women’s teams.
The sustainable way to keep head above water is to sell high-value players at their peak, and replace them with cheap, young talent.
Sunderland achieved this by selling Jobe Bellingham to Borussia Dortmund for an initial £27.8m.
Selling the 19-year-old meant the club could record a considerable profit, which was key to their summer spending.
According to the Ingenuity Fantasy Football (IFF) website, the Black Cats’ net spend over the summer was £110.9m, ranking them sixth in the league.
IFF estimates that under the PSR rules, Sunderland have around £20m of spending power left, which complicates some of their rumoured targets.
The biggest of these is Barcelona’s Fermin Lopez, with the Wearsiders said to be weighing up a bid of upwards of £70m for the teenage star, according to Spanish sports newspaper Mundo Deportivo.
Amortisation would need to come into play for this deal to happen: a five-year amortised deal, for example, would see Sunderland pay just £14m this winter.
Sunderland are making a move for Fermín López to bolster their squad and secure points in their surprise quest for European football.
The Wearside club currently sit in 4th in the Premier League, and are preparing to offer €80M for the young Barcelona talent, who is capable… pic.twitter.com/81jqyf6xiZ
— Transfer News Live (@DeadlineDayLive) November 11, 2025
There are also rumours circulating around the future of Gonzalo Garcia, with Sunderland reportedly considering a loan move for the Real Madrid youngster, according to the Daily Mail.
However, these signings would require an outgoing, and although rumours over a departure for Xhaka have been shut down by Sky Sports’ Keith Downie, recouping fees for players not in Regis Le Bris’ plans need to be considered.
