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A better Jadon Sancho? Why Dortmund are shattering all records to sign Said El Mala
It is easy to forget that Jadon Sancho was once the most sought-after youngster in European football.
Now aged 26, the former England international is a free agent after the expiration of his contract at Man Utd - and absolutely no one at Old Trafford was sad to see him go. He was a massive money sink.
After failing with a move in 2020, Man Utd shelled out an eye-watering €85 million in 2021 to belatedly sign him, but they were desperate to get rid of him again after just a couple of years.
Sancho did nothing to justify his gigantic price tag or his massive wage. By 2023, he had fallen out with Erik ten Hag and was forced to embark on a series of loan deals. His first temporary exit took him back to where it all began: Borussia Dortmund.
Much like the player, however, the club had lost its way by 2024, and there was growing discontent behind the scenes - despite reaching a Champions League final that year. And just like Sancho, Dortmund are now desperate to get back on track.
Rediscovering the "Dortmund way"
Niko Kovac has come in and steadied the ship in terms of on-pitch results. He replaced former midfielder Nuri Sahin after a brief but disastrous spell midway through 2024/25, and his first full season in charge was a success.
Although frequently criticised for playing uninspiring football, Dortmund actually enjoyed one of their best-ever Bundesliga campaigns last term as they finished second on 73 points - just two short of their title-winning tally in 2010/11.
With results stabilised, the club have set about rediscovering the "Dortmund way" this summer. Ole Book, who enjoyed amazing success at promoted Bundesliga minnows Elversberg, has replaced Sebastian Kehl as sporting director, and he has only signed teenagers so far.
The Black and Yellow have invested heavily in youth, adding wonderkids Konstantinos Karetsas (€30m), Joane Gadou (€19.5m), Kaua Prates (€7m) and Justin Lerma (€4m), while highly-rated prospects Samuele Inacio, Mathis Albert and Mussa Kaba have been promoted to the first team.
The idea is to get back to the business model that made them one of the most profitable football clubs in Europe by giving youth a chance and selling talent on at significant profits.
However, Dortmund have to contend with a different market landscape now. Transfer fees have become hugely inflated, and because of the proliferation of data analysis and scouting software, there are no more hidden gems.
Premier League clubs are hoovering up talent left, right and centre, and this has led to an explosion in transfer fees, even for realtively unproven prospects. An 18-year-old Karetsas playing at Genk would have cost Dortmund €10m-€15m a few years ago - he is now worth double that.
Dortmund break all records for El Mala
It's the same story for Dortmund's potential newest recruit: Said El Mala. The Black and Yellow are confident of signing the 19-year-old after agreeing to pay Koln an almost unthinkable €55m.
Dortmund's current transfer record has stood for a decade. They spent what was at the time considered a ridiculous €35m on Ousmane Dembele in 2016 and then sold him for €105m (plus bonuses) the following year.
They are now ready to obliterate that record by €20m to sign El Mala after just one season of top-level football. Koln have been steadfast in their stance that the teenager will not leave the club for less than €50m.
They had previously agreed a €55m package with Brentford, but El Mala was not interested in joining the Bees. With Koln more than happy to keep the winger for another year, Dortmund have been forced to match Brentford's offer.
It can't be overstated what a monumental deal this is for Dortmund if they get it over the line. For several years now, the club's upper limit in terms of transfer fees has been around the €30m mark - this has now all gone out of the window.
It is not only a record signing for BVB and a record sale for Koln (the previous one was €29m), but also the Bundesliga's most expensive non-Bayern transfer and the biggest intra-league deal ever - not even the Bavarians have spent more than €50m on a domestic player.
This deal is a huge gamble for Dortmund because it means that they will have to sell El Mala for a massive fee in the future. Should he fail to develop as expected, the club could be financially hamstrung for years.
However, there is confidence that El Mala can become another Sancho or Dembele. A fearless dribbler and emphatic finisher, the 19-year-old has been nothing short of sensational over the past year, starting with his standout performances in the U19 European Championship last summer.
He then immediately established himself as Koln's most dangerous player. The winger bagged 13 goals and five assists in under 2,000 Bundesliga minutes, and he would have played - and scored - more if the club's former coach, Lukas Kwasniok, hadn't been overly protective of him.
The fact that no big Premier League clubs were in for him will raise questions, but this has to do with several factors: his relative lack of experience, Koln's unyielding stance on their €50m asking price and family interference.
The latter is a crucial point. El Mala dropped his agent earlier this year and is now represented by his parents, chiefly his mother. One of the main demands of the family has been that the El Malas must be signed in a bundle - Said has an older brother, Malek, who plays for Koln's reserves.
Some of Said's suitors have been prepared to sign both, others haven't. The move from Cologne to nearby Dortmund eliminates the need to relocate Malek, although there are suggestions that BVB could recruit the 21-year-old anyway because their reserves need more attackers.
El Mala's rejection of a move to Brentford also speaks volumes. The youngster and his family know exactly what they want: take a meaningful step forward (Brentford was perhaps not enough of a step up from Koln), while not completely getting out over their skis.
It is entirely possible that they decided that a transfer to a big Premier League club would have come too soon for him, whereas Dortmund is the perfect intermediate step for him at his stage.
The promising youngster needs guaranteed minutes. He is viewed as the future of the German national team, and although he has yet to make his debut, he was part of last November's camp under Julian Nagelsmann.
New coach Jurgen Klopp is known to be a huge fan of him. In fact, the legendary manager is said to have advised El Mala to join his former club. Not only will he get regular minutes in Dortmund, but he will also play Champions League football pretty much every year.
El Mala joining Dortmund is a transfer that makes perfect sense. He has the potential to become European football's next superstar, but the club have had to move mountains to make this move a reality, so it is also a sizeable gamble.