Another club has come knocking this week. Once again, Southampton have said no, and their refusal looks shrewder than it first appears.
The maths behind the stand-off
The £24m that Fulham are readying, first reported on the 22nd July, still falls below what Southampton will accept for Shea Charles, the midfielder half the division suddenly seems to want.
Leeds United have tried three times and been turned away on each occasion. Their opening approach began at £20m before climbing to a £23m package they now call their best and final offer.
Crystal Palace and Manchester United have circled, too, but Southampton are refusing to blink.
Their asking price stays at £25m plus add-ons; some reports even push it towards £30m.
Back in 2023, Southampton paid Manchester City £10.5m for Charles, a fee that could have climbed to £15m with add-ons. There is a catch, though.
City kept a 15 percent sell-on clause, so close to £4m of any £25m sale would travel straight back to the Etihad.
Even after that slice is taken, more than doubling the original outlay would be smart business. His deal expires in June 2027.
It represents good business, but Sport Republic have not moved an inch.
Why the refusal looks smart
On the pitch, Charles offers a buyer plenty. He made 31 Championship appearances last season and earned a 7.16 average match rating on his FotMob profile.
Three goals and two assists from defensive midfield undersell how much ground he covers. Transfermarkt puts his market value at around £13m.
Set against that, £25m is a clear premium for a Championship holding midfielder.
There is a football case for holding firm as well. Sell Charles and the engine room thins out fast.
Flynn Downes, Caspar Jander and the academy's Cam Bragg would be among the only senior midfielders standing. A rushed exit could throw youngsters like Romeo Akachukwu and Barnaby Williams in before they are fully ready.
Saints Marching has laid out the stakes around Fulham's move and framed it as the bid that could settle his future. The site has also drawn a cautionary comparison with big-money exits the club got wrong in the past.
Charles played in the second half of the 1-0 pre-season victory against Eintracht Braunschweig and looked a little rusty.
His own preference is said to lean towards Leeds. The Saints will let the bidding decide.
The longer they wait, the stronger their hand becomes.
Southampton open next season in the Championship on minus four points. Every incoming fee will help fund the rebuild that follows.
A sale still looks likely before long, yet each rejected bid drags the final number closer to the one Southampton wanted all along.
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