Manchester City chairman Khaldoon Al-Mubarak has no interest in a bidding war. That's the clearest signal yet that City could walk away from Elliot Anderson entirely — and Forest's stubbornness might be the thing that kills the deal.
City's second bid, worth £120 million structured as £100m upfront plus £20m in performance-related add-ons, was rejected by Forest owner Evangelos Marinakis, who wants the full fee paid in cash, no conditions attached. For a 23-year-old who has never played a Champions League minute, that's a significant ask — and Al-Mubarak apparently agrees.
The Van Dijk precedent
This isn't the first time City's chairman has pulled the plug on a deal he felt was being inflated beyond reason. When Liverpool moved for Virgil van Dijk in 2018, City were in the running — until they decided the price and the process weren't worth it. Liverpool paid up. City moved on. The Van Dijk parallel is one Al-Mubarak's camp is apparently referencing directly, which tells you where the headspace is.
If City do walk, they're leaving behind a player they've tracked for months and a midfielder Enzo Maresca specifically wants to rebuild around following Bernardo Silva's departure. Anderson is also viewed as the long-term heir to Rodri. That's not a casual recruitment target — that's a structural signing. Which makes the willingness to walk away either a serious negotiating position or a genuine warning Forest should take seriously.
For context on the numbers: £120 million would make Anderson the most expensive English player in history, ahead of Jude Bellingham (£117m to Real Madrid) and Declan Rice (£105m to Arsenal). Forest bought him from Newcastle for £35 million in 2024. The markup is eye-watering, and City's argument that it represents fair value for a player yet to prove himself at elite European level isn't unreasonable.
Anderson isn't distracted — Tuchel made that clear
Anderson is currently on World Cup duty with England, and Thomas Tuchel shut down any suggestion the transfer noise is affecting him. "It was an amazing performance against Costa Rica, he's fine," Tuchel said after England's 3-0 win. "What I see on the training pitch is no distractions, full commitment."
Anderson himself has reportedly made his preference clear — City over United, City over Chelsea. But preference doesn't resolve a £20 million structural disagreement between two clubs with very different negotiating philosophies.
- City's bid: £100m upfront + £20m in performance add-ons
- Forest's demand: full £120m paid upfront, no conditions
- Anderson's current value vs. purchase price: bought for £35m in 2024
- What's at stake for City: Maresca's midfield rebuild, long-term Rodri succession
The ball is firmly in Forest's court. If Marinakis doesn't blink, City's next move might not be a higher offer — it might be a phone call to someone else entirely.
