Estupiñán and Aston Villa: Talks Enter the Final Stage
AC Milan’s outgoing transfer market is beginning to take shape, and the first deal likely to be completed involves Pervis Estupiñán. The Ecuadorian left-back, represented by Jorge Mendes‘ agency, has already reached a personal agreement with Aston Villa under Unai Emery: according to the latest reports, the player has given his green light to a return to the Premier League, where he previously worked under the Spanish manager.
It comes as no surprise that negotiations are progressing smoothly: the relationship between Estupiñán and Emery is well established, and the English football environment is familiar territory for the defender. His personal consent is a crucial piece of the puzzle, but it’s not yet enough to seal the deal.
The Financial Sticking Point: Milan and Aston Villa Still Apart
The real battleground now is financial. Milan are asking for between €18 and €20 million for the player, while Aston Villa — despite recently cashing in on Digne’s sale to Paris Saint-Germain — would prefer to spend less. Both clubs are working to bridge the gap, and a compromise figure of around €15-17 million, potentially with add-ons, appears to be the most likely outcome.
There is, however, a threshold Milan cannot ignore: to avoid registering an accounting loss in the 2025-26 financial year, the Rossoneri cannot sell Estupiñán for less than €13.6 million. This figure represents the residual book value of his registration rights and acts as a hard floor in negotiations.
The Minimum Threshold Table: Understanding Milan’s Transfer Strategy
The issue of accounting losses is central to Milan’s summer window, as the club must handle multiple exits with close attention to financial fair play. An analysis published by Milan News offers a clear picture of the minimum sale fees required for the main players on the market:
- Santiago Giménez: minimum threshold €20.1 million — the highest on the list, due to significant residual amortisation. Given a season without a league goal, ankle surgery, and a disappointing World Cup campaign, finding a buyer above €20m will not be straightforward.
- Youssef Fofana: minimum threshold €13 million — Milan are asking between €20 and €25 million for the French midfielder.
- Pervis Estupiñán: minimum threshold €13.6 million.
- Rafael Leão: minimum threshold just €11.2 million — though of course Milan would never sell him at that price, with expectations far higher.
- Samuel Chukwueze: minimum threshold €8.7 million — the Nigerian winger is in his fourth season at the club and his residual book value has dropped considerably.
- Yunus Musah: minimum threshold €8.5 million.
- Fikayo Tomori: minimum threshold €5 million — among the easiest to sell without impacting the balance sheet.
These figures don’t reflect market value, but rather the residual accounting value of each player’s registration: any offer below them would produce a book loss. Milan must navigate this carefully, aiming to maximise transfer income while avoiding any financial write-downs.
A Busy Summer: Milan Working on Multiple Fronts
Estupiñán could therefore be the first to leave Milanello this summer window. With Jorge Mendes already active on several fronts — the same agent recently brought Gonzalo Ramos to Milan — the transfer machine is in full motion. The hope is that the gap between the two clubs is bridged quickly, allowing Milan to bank a satisfactory fee and reinvest in reinforcing the squad under manager Rúben Amorim.
