Barcelona Keep or Dump: What to do with De Jong, Koundé, more

Barcelona are coming off a hugely successful season in which they won a domestic double and came within a whisker of the UEFA Champions League final. That's a huge positive not just for the club and belief in new coach Hansi Flick, but also president Joan Laporta, who faces club elections at the end of next season. Laporta inherited a disastrous financial situation from his predecessor, Josep Maria Bartomeu, and pursued an aggressive strategy of "levers," many of which involved selling off shares of future revenue streams in exchange for immediate cash injections. Whether this will be good for the club long term remains to be seen, but two LaLiga titles in three seasons and renewed faith in the club suggest that on the pitch, the plan has worked.

That said, Barça are still threading the needle to meet LaLiga's stringent financial requirements. We saw this with the Dani Olmo case in January, when the club's ability to register him required the sale of future luxury boxes at Spotify Camp Nou. Trying to divine what their spending limits might end up being is risky (and could, of course, change) but we expect them to be in a stronger position. This is not just due to increased prize money for their success on the pitch, but also the return to Camp Nou (a far more lucrative venue than Montjuic) and some tweaks to LaLiga's regulations. If everything falls into place, their net spend could be as high as €50 million. That's what the club hopes, but recent history suggests the situation is mutable.

The good news is that the squad doesn't need very much to remain competitive. They need a succession plan for Robert Lewandowski, some clarity over the goalkeeper and help at center back. At a push, those needs could be kicked down the road to summer 2026 -- and the even better news is that so many important players are young and likely to improve.

Editor's note: This is the fifth installment in this year's series, Keep or Dump, which will continue over the coming weeks, detailing which players to keep, extend and move on from for all the top clubs in the Premier League and Europe. Find the article on Arsenal right here, Manchester United can be found here, our Liverpool version is here, and Manchester City is here.

Keep/dump ground rules

Remember: This is our assessment of what we think the club should do, player for player, with the squad at its disposal. It's not what we think the club will actually do, though sometimes the two will align. That said, we take into account what we know of the club, coaching staff and player preferences, as well as its financial situation and any other factor that we think will impact personnel moves.

Where we disagree, or where we think our rationale is worth explaining, we've noted below.

Goalkeepers

Wojciech Szczęsny (35 years old, contract expires in 2025)

Marsden: He literally came out of retirement when Marc-André ter Stegen got injured and played extremely well. They're talking to him about a two-year extension. I'd give him only one year and let him compete for the job, given Ter Stegen is returning after another bad knee injury. Don't forget: if you let him go, you still need to spend some money to sign a No. 2.

Marcotti: I really like him, and you can argue he saved their season. But the other keeper has a long-term contract and is your club captain. Szczęsny is 35 and not ideal for a team that plays a high line. I don't think you can justify committing money to a backup keeper. My hope is that he enjoys living in Barcelona and had so much fun that he'll take a tiny wage and some sort of big bonus every time he plays. That's the only way to justify keeping him, as I see it.

Verdict: Split between keep and extend, and release (unless he stays for cheap)

Iñaki Peña (26, 2026)

Marsden: You'll get a little bit for him. He played enough games for Barça: maybe €3 million plus a sell-on clause.

Marcotti: If Flick were comfortable with him as a potential No. 1, they wouldn't have persuaded Szczęsny to unretire. Might as well move him now when you can get some money back.

Verdict: Move on

Marc-André ter Stegen (33, 2028)

Marsden: He has had surgery on his knee and has missed large parts of the past two seasons, but he's the team captain and has a long-term contract. You hope he stays fit ... but the potential arrival of Espanyol's Joan García could push him out.

Marcotti: You have to hand him the starting job. And I think last season showed that you can find a backup keeper if you need him.

Verdict: Keep

Defenders

Álex Valle (21 years old, contract expires in 2026, Como)

Marcotti: He did well at Como, and they paid the pre-agreed €6 million in fee and bonuses to make his deal permanent.

Verdict: Move on

Hector Fort (18, 2026)

Marsden: I thought he would have played more this season, especially as he can cover both flanks, but Flick doesn't seem to trust him just yet. Still, he's very young, so I would extend his contract and loan him out to get playing time. He can always come back.

Verdict: Extend and loan out

Jules Koundé (26, 2027)

Marsden: You'd get a very good fee for him, but he has done very well since his transition to right back, which is ironic since he didn't want to play there initially.

Marcotti: To me, he falls into the category of players you look to extend, but not at any price. He's one of the best in the world at his position, but that also means you could get a huge fee for him. I think a lot here depends on what the spending limits end up being. Assuming we're right, and there's a lot less pressure than there was, it's a no-brainer. But if you get a mega-offer from a club he'd be open to considering ... well, you'd have to consider it.

Verdict: Keep and extend

Alejandro Balde (21, 2028)

Verdict: Keep

Gerard Martín (23, 2026)

Marsden: A lot of people didn't understand why Flick had so much faith in him, but he ended up starting after Balde's injury and got a two-year extension through 2028.

Marcotti: It's not very expensive to keep him, and I think you have to defer to Flick on this one. If he likes him, you keep him.

Verdict: Already kept and extended to 2028

Clément Lenglet (29, 2026, on loan at Atlético Madrid)

Marsden: He actually extended his deal to go to Atlético Madrid; I'm not sure whether he'd do it again, or whether you just give him away to save on wages.

Marcotti: The issue with him is he deferred his wages during the pandemic and remains on a massive salary. If he comes back, Barça are on the hook for €16 million. He was injured at the start of the season and didn't actually play for Atleti until October, but was pretty much a starter since then. You might have to let him go for nothing if Diego Simeone likes him enough and he reaches a multiyear deal with Atlético that he's happy with.

Verdict: Move on

Iñigo Martinez (34, 2025)

Marsden: He triggered a one-year extension back in March. He has done well, but at best, he has only one year left as a starter on this Barcelona side.

Marcotti: He had a fantastic season. Obviously he's 34 now, so that's a concern long term. But he's very valuable.

Verdict: Already kept and extended to 2026

Eric García (24, 2026)

Marsden: He's OK with being a squad player, and as we've seen, he can play midfield, right back and center back. He's a good guy to have in the dressing room.

Marcotti: I'd be open to moving him on if an offer came in, simply because I don't think he's a great player. He's undersized as a central defender and not particularly quick or skillful on the ball. On the other hand, besides his two seasons at City and the year at Girona on loan, he has been at the club since he was seven. There's value in that. Extend him, sure, but obviously without a big pay bump.

Verdict: Keep and extend

Andreas Christensen (29, 2026)

Marcotti: He missed most of the season with injury but was a starter in the 2022-23 title-winning campaign, which was really the only year he was a regular. He arrived as a free agent and is on a big salary, and while there was some logic to keeping him because he can also play central midfield, I think there's enough cover there now. Ideally, you'd move him on, though I doubt you'd get much. Otherwise, if he proves his fitness, you can look to extend him and maybe spread his wages over another year or two.

Marsden: If he can prove his fitness, I think you'll find a Premier League club that will take him. Maybe you get between €10 million and €15 million.

Verdict: Move on

Pau Cubarsí (18, 2029) (renewed this year)

Verdict: Kept and extended to 2031 (renewed this year)

Ronald Araújo (26, 2031)

Marsden: He extended his contract in January and actually lowered his release clause. There are plenty of doubts around him, but I think in the right team he can be effective. I think they'd be looking for a minimum of €30 million for him.

Marcotti: He missed the whole first half of the season and wasn't particularly good when he did return. If Barça sign a central defender to replace Iñigo Martinez either now or next year, he'll slip to fourth choice. The thing is, without him getting a run in the side, I don't think Barcelona would get anything like the €30 million they'd want. It might be one of those situations where you loan him in January and hope he does well elsewhere.

Verdict: Move on

Midfielders

Oriol Romeu (33 years old, contract expires in 2026, on loan at Girona)

Marcotti: He's 34 in September and I think you have enough midfielders. You might not get any money back, but it's time to let him go.

Verdict: Move on

Frenkie de Jong (28, 2026)

Marsden: He was good at the end of the season, and you should extend him to protect his transfer value. Marc Casadó is a squad player, and Bernal is just 17 and coming off a bad injury, so De Jong still has a big part to play.

Marcotti: I agree, plus his enormous salary is down to the fact that he deferred a big chunk of his salary during the COVID-19 pandemic. I think you need to get creative again, and maybe give him more years on lower wages. Considering how often they tried to shift him in the past and he didn't want to go anywhere, I don't think it's going to be that difficult.

Verdict: Keep and extend

Pablo Torre (22, 2026 )

Marsden: He's a dead-ball specialist and very good technically, but there are just too many guys ahead of him and more guys coming through -- guys such as the Fernández cousins, Guille and Toni, who are at Barça Atlètic. I think this is going to be another one of those deals where Torre goes to a team like Real Betis or FC Porto, ideally with a sell-on fee in case he steps up.

Marcotti: There are enough No. 10 types on this team. I doubt you'll get much with a year left, but a sell-on fee is important.

Verdict: Move on

Marc Bernal (18, 2026)

Marsden: Like Lamine Yamal, he will extend his contract soon now he is 18.

Marcotti: It's a no-brainer. He's hugely rated; let's see how he recovers from his injury.

Verdict: Keep and extend

Marc Casadó (21, 2028)

Verdict: Keep

Fermín Lopez (22, 2029)

Marsden: I'd keep him unless someone comes in with a massive offer. That said, he's not going to be a starter when everyone else is fit.

Marcotti: At some point, you'll have an excess of attacking midfielder/winger types among Yamal, Raphinha, Dani Olmo, Ferran Torres, Gavi and him. The others are probably all ahead of him, except for Torres. If someone puts €50 million or more on the table, it's going to be hard to say no. But for now, he's very valuable to the club.

Verdict: Keep

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Pedri (22, 2030)

Verdict: Keep

Gavi (20, 2030)

Marcotti: He's a reclamation project right now. He returned from injury but couldn't get into the side. When he's at his best, he's an automatic starter, even if it means tweaking the way you play a little bit. He's not there yet.

Marsden: I don't see what his place in the team is right now. Flick picks Fermín ahead of him. But, of course, give it another year.

Verdict: Keep (contract renewed this year)

Dani Olmo (27, 2030)

Marcotti: His injury record is terrible. He managed just 13 league starts this season and has had more than 18 just once since he was 20 years old. Given the €60 million they paid to sign him and his long-term contract, he's not going anywhere, so I guess it's good that you have Fermín and Gavi as alternatives.

Verdict: Keep

Forwards

Robert Lewandowski (36 years old, contract expires in 2026)

Marsden: They have given him another season so I guess you park the debate for a year. He scores a lot but doesn't contribute to the press, and at times, he looks clumsy. This is definitely his last season at the club.

Marcotti: It seems mad to question a guy who scored 40 goals in 51 starts this year, but the reality is he's 37 in August, he's on huge wages, and for a team that's so oriented to press high, he's not the best fit at that age. You need to find a central striker, ideally this summer, to split time with him and ease into the team, or next summer to fill his big shoes.

Verdict: Kept and extended

Lamine Yamal (17, 2026)

Marsden: He signed a new contract this summer ahead of turning 18 on July 13. Possibly the best business Barça will do in the current window.

Marcotti: He may have signed through 2030, but they'll probably have to have another conversation in a year or two if his development continues.

Verdict: Keep and extend

Ansu Fati (22, 2027)

Marsden: It feels like he has to leave. They gave him a huge deal and the No. 10 shirt, but he's not going to make it at Barça. He has to go somewhere else. I doubt they'll get money for him though.

Marcotti: You need to get his wages off the books. You'll probably have to pay part of his wages, but it's best to send him somewhere else. There's no room for him right now. I know it's tempting to make a clean break, but the reality is he's on good money and I don't think anyone will give you a fee for him.

Verdict: Move on or loan out

Raphinha (28, 2028)

Marcotti: I think they did very well here. He has had a monster season, but the club needed to be disciplined. By extending him another year, they're not paying for what he produced in 2024-25, but for what they think he'll produce in 2027-28, when he'll be 31. The old Barça might have been tempted to give him a four- or five-year deal. I think they're also leveraging the fact that he's at Barça. There are very few places he can go that are better for him professionally.

Verdict: Kept and extended

Ferran Torres (25, 2027)

Marsden: They tried to move him to a new club before and he did not want to leave. So keep him and make him work for his extension. Have him prove that he can be a reliable alternative to Lewandowski.

Marcotti: I agree. I don't think he has a big market and he can back up three positions. He's a pressing machine, he's hugely durable and he never gets injured. You can have a conversation about extending him later.

Verdict: Keep, do not extend

Pau Víctor (23, 2029)

Marsden: He has loads of interest from LaLiga clubs, just not clubs that can pay any significant money. Overall, he hasn't cut it as Lewandowski's backup.

Verdict: Move on

Overall verdict

There are two bits of good news we need to mention up top. The first is that, other than De Jong and Koundé, there aren't many looming contract extensions to worry about. (Not to mention they have already secured Raphinha and Yamal to extensions.) The other is that, when you're Barcelona, players tend to be happy and not want to leave, so you can take a few more liberties when it comes to keeping a hard line on wages in negotiations. (That's something the Bartomeu regime failed to understand, which is partly how we got in this financial mess to begin with.)

La Masia also continues to churn out talent and even when Barça can't count on the youngsters to be starters, they have generally proved to be reliable squad players who can be moved for a fee. Peña, Valle, Torre and Pau Víctor should still fetch the club a minimum of €15 million among them despite having contributed little or nothing last year, and that's important.

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There are two overriding priorities here. Barcelona need a central defender who can at minimum be their third option, and ideally replace Iñigo Martínez alongside Pau Cubarsí. There isn't much money knocking about, but whatever funds they can find ought to be used for this role. With their high line, they need defenders who have specific characteristics.

The other priority is the center forward role. Maybe Barcelona can muddle through another season of Lewandowski and Torres, but next summer, the former will be gone and the latter will be a year away from free agency. Center forwards are expensive to sign, and if they prioritize a center back, they might need to go for an older, free agent pickup -- unless they manage to get something back for Christensen and/or Araujo, but that will be difficult. (If both go, Barça will probably want to bring in another player, too.)

They could look to raise money by shifting coveted players such as Koundé, Fermín López, and possibly Casadó if Bernal returns to full fitness and lives up to the hype. We don't think it makes sense right now, unless they get huge offers and, in the case of Koundé, contract talks break down. But Barcelona potentially have seven central midfielders on the books. They simply don't need that many, not least because they want to leave pathways for the La Masia youngsters -- moving those players has to be in the back of your mind.

The goalkeeping situation shouldn't be hard to resolve. Barcelona can make Diego Kochen or Ander Astralaga their third choice and pick up a veteran backup (if Szczesny doesn't want to stick around).

Marsden thinks they should also invest in a wide player, because Yamal is the only player who can stay wide and open things up. He worries that they're verging on being too dependent on Yamal. Marcotti isn't so sure, though if the right player came along -- and it was someone who could also fill in at center forward -- it might be worth considering, though it would likely mean Barça sacrificing one of their regulars.

We still worry about the long-term effects of Laporta's levers, but in the short term, 2024-25 showed that this team can be very successful with a combination of incumbent players and youngsters. The key, we think, is maintaining that fiscal discipline and not getting carried away with spending, because that's what got them in trouble in the first place.