Sandro Tonali has turned down Manchester City to join Tottenham Hotspur, a decision that will cost Spurs somewhere north of £100 million and signal that the club’s rebuild under Roberto De Zerbi is being taken seriously by the players themselves.

Tonali, contracted at Newcastle United until 2029, has reportedly agreed personal terms with Tottenham following negotiations that began in mid-to-late June 2026. Newcastle had already dismissed earlier approaches in the region of £80 million, and the two clubs are now working through a fee that sits somewhere between £85 million and £116 million.

Why Tonali chose Spurs over City

Manchester City entered the race for Tonali’s signature in June 2026. Tonali said no anyway.

The reported pull toward Tottenham is De Zerbi, the head coach who built his reputation on a style of play that demands technical midfielders operate with both intelligence and freedom.

What Newcastle loses, and what the fee means

Newcastle’s valuation of Tonali reflects how central he has become to their plans. The £80 million bids that were dismissed early in negotiations were not rejected out of stubbornness. A midfielder contracted until 2029, still only 22 years old, with the kind of profile that does not come available very often.

A fee in the £100 million-plus range would make this one of the most significant transfer outlays in Tottenham’s history.

Market implications and the prediction market angle

A prediction market launched on Coinbase in June 2026 allows users to bet on whether Tonali will officially sign with Tottenham before an October 2, 2026, deadline.

Fan tokens associated with both clubs, Tottenham’s $SPURS and Manchester City’s $CITY, also sit in the background here. A confirmed Tonali signing at Spurs would likely generate a bump in $SPURS trading volume, driven by fan engagement rather than any fundamental shift in the token’s underlying value.