Wesley Fofana keen to upgrade for club and country with move to Chelsea

The going rate for a talented young central defender shoots up and up. Chelsea were reminded of that when they embarked on their summer overhaul of a squad that had lost Antonio Rudiger and Andreas Christensen to Real Madrid and Barcelona. Both were out of contract and, as the club’s new owners were still setting budgets, set off for Spain for free.

Chelsea targeted a precocious 22-year-old to fill some of the gap. After a sustained pursuit, Matthijs de Ligt preferred to go elsewhere, joining Bayern Munich from Juventus, and in doing so taking the total invested in him in transfer fees over his meteoric career past €150 million. De Ligt, a precocious captain of Ajax in his teens, joined Juve for €85m a month before his 20th birthday. Three summers on, Bayern parted with over €65m.

Jules Kounde, 23, and Kalidou Koulibaly, 31, were the next priority targets and Chelsea were successful in luring the older of the pair from Napoli. Early indications are that the authority and confidence that has made Koulibaly one of the most coveted footballers in his position for the past six years will easily translate from Serie A to the Premier League.

But Kounde turned down a transfer to Stamford Bridge, instead joining the procession of new signings at Barcelona. Barca committed €50m to Sevilla, money they have yet to show La Liga’s Financial Fair-Play auditors they can afford to spend while meeting Spanish football’s rules governing allowed expenditure-to-income. Kounde hopes that bureaucratic hurdle will be overcome in time to be properly registered as a Barca player by the weekend, having missed out on a debut in the season’s opening day draw against Rayo Vallecano.

Chelsea had no difficulties in offering as much to Sevilla as the fee Barca paid for Kounde, and are now channelling those funds - and plenty more - towards a chase for Kounde’s French compatriot Wesley Fofana. The player is keen to make the move and his club, Leicester City, had been made firmly aware of his enthusiasm to upgrade to a Champions League club and the chance to develop his game alongside Thiago Silva, the veteran Chelsea centre-back, and Koulibaly. Leicester, who bought Fofana from Saint-Etienne for €35m in 2020, have rejected two Chelsea bids so far, and have told the bidders they value the player at £80m.

Chelsea held by Tottenham - in pictures

It is a vast valuation for a defender who has played just 82 matches of top-flight or European football for his senior clubs, who is only 21 and yet to win a cap for the senior France national team. But so plainly has Fofana shown his potential and maturity since moving to England that Leicester have put the same kind of price-tag on him that attached to the teenaged De Ligt, or for that matter, to another central defender whose career Leicester developed, Harry Maguire.

Maguire’s £78m (around €87m) move to Manchester United set a new benchmark for fees for defenders, in the same summer, 2019, when Bayern paid €80m to Atletico Madrid for Lucas Hernandez and Juventus bought De Ligt from Ajax.

Fofana wants to give himself the platform, in club football, that will push his claims to be considered, alongside Kounde, Hernandez, United’s Rafael Varane and rising stars like Arsenal’s William Saliba, Liverpool’s Ibrahim Konate and Bayern’s Dayot Upamecano for a role in France’s defence of their World Cup title come November.

He appreciates he has catching up to do, given that he missed most of last season for Leicester with injury. After an outstanding first season in English football, his progress was abruptly interrupted when he suffered a broken leg in a friendly against Villarreal. His recuperation took seven months, but there was little delay in his establishing that neither his strong self-belief nor his mobility had been compromised. Fofana scored, in a Uefa Conference League tie, in his first fixture back in mid-March.

By June he was in contention for promotion from the France Under-21 squad up to Didier Deschamps Bleus. “He’s the same Wesley as before,” said the France U21 coach Sylvain Ripoli, echoing his Leicester coach Brendan Rodgers' assessment of Fofana’s character and qualities and the praise he has earned from Kolo Toure, the former Manchester City and Ivory Coast centre-back who assists Rodgers and took Fofana, who has Ivorian heritage, under his wing at the club.

“You feel he loves defending, and it’s important that a defender has that relish for it,” observed Ripoli. “He covers space quickly and he has a fierce side to his game.”

150 summer transfers - in pictures

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Profile of Tamatem

Date started: March 2013

Founder: Hussam Hammo

Based: Amman, Jordan

Employees: 55

Funding: $6m

Funders: Wamda Capital, Modern Electronics (part of Al Falaisah Group) and North Base Media

The Florida Project

Director: Sean Baker

Starring: Bria Vinaite, Brooklynn Prince, Willem Dafoe

Four stars

Zayed Sustainability Prize

Clean water and solar homes: Zayed prize finalists present sustainability solutions

What is the Zayed Sustainability Prize?

The biog

Favourite food: Tabbouleh, greek salad and sushi

Favourite TV show: That 70s Show

Favourite animal: Ferrets, they are smart, sensitive, playful and loving

Favourite holiday destination: Seychelles, my resolution for 2020 is to visit as many spiritual retreats and animal shelters across the world as I can

Name of first pet: Eddy, a Persian cat that showed up at our home

Favourite dog breed: I love them all - if I had to pick Yorkshire terrier for small dogs and St Bernard's for big

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks.

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.

8. Pillar 2 implementation

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Ultra processed foods

- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns

- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;

- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces

- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,

- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.

Moon Music

Artist: Coldplay

Label: Parlophone/Atlantic

Number of tracks: 10

Rating: 3/5

The biog

Age: 19

Profession: medical student at UAE university

Favourite book: The Ocean at The End of The Lane by Neil Gaiman

Role model: Parents, followed by Fazza (Shiekh Hamdan bin Mohammed)

Favourite poet: Edger Allen Poe

The Penguin

Starring: Colin Farrell, Cristin Milioti, Rhenzy Feliz

Creator: Lauren LeFranc

Rating: 4/5

The bio

Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.

Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.

Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.

Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.

MATCH INFO

Uefa Champions League semi-final, second leg result:

Ajax 2-3 Tottenham

Tottenham advance on away goals rule after tie ends 3-3 on aggregate

Final: June 1, Madrid

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Our legal consultant

Name: Hassan Mohsen Elhais

Position: legal consultant with Al Rowaad Advocates and Legal Consultants

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F1 The Movie

Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem

Director: Joseph Kosinski

Rating: 4/5

UAE currency

Company profile

Date started: January, 2014

Founders: Mike Dawson, Varuna Singh, and Benita Rowe

Based: Dubai

Sector: Education technology

Size: Five employees

Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.

Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)

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