The English centre-back's transfer highlights how smart player trading can function like a leveraged bet, with Leeds United also cashing in through a sell-on clause.
Toulouse FC is about to flip a defender for roughly six times what it paid. Charlie Cresswell, the 23-year-old English centre-back who arrived from Leeds United for around €4.5 million just two years ago, is set to join Stade Rennais FC in a deal valued at approximately €28 million, including €3 million in potential bonuses.
The deal structure and who gets paid
Rennes has agreed in principle to a €25 million base fee plus €3 million in performance-related bonuses for Cresswell. He’s expected to undergo a medical before signing a five-year contract with the club.
But Toulouse isn’t the only winner here. Leeds United, Cresswell’s former club, holds a 15% sell-on clause from when they sold him in July 2024. That entitles Leeds to approximately £2.6 million, or around €3 million, from this transaction.
Why Cresswell’s value exploded
When Cresswell left Leeds for Toulouse in July 2024, he was a promising but unproven talent looking for regular first-team minutes. Ligue 1 provided exactly that.
His performances in France were strong enough to attract attention from some of England’s biggest clubs. Brighton, Crystal Palace, and Manchester United all reportedly showed interest in the young defender. But Rennes moved fastest, emerging as the frontrunner for his signature.
His market valuation on Transfermarkt now sits at approximately €25 million, up from €4.5 million in the span of roughly two years. Cresswell is an England U21 international, which signals that the national setup sees long-term potential.
What this means for the clubs involved
For Rennes, a five-year contract spreads the amortization of the transfer fee, making it roughly €5 million per year on the books.
For Leeds, the sell-on clause delivers £2.6 million they’ll receive from a player who was no longer in their plans.
