Atletico Madrid are reportedly closing in on the transfer of Sporting Lisbon defensive midfielder Morten Hjulmand in a €40m deal.The Denmark international has shone during his time in Portugal, and it’s no surprise that he’s now been snapped up by a big club in a more competitive league.We’ve previously been informed that Arsenal were among the clubs to ask about Hjulmand, and it makes sense as the Gunners have been in the market for a new midfielder.DOWNLOAD THE OFFICIAL CAUGHTOFFSIDE APP FOR ALL THE LATEST & BREAKING UPDATES – STRAIGHT TO YOUR PHONE! ON APPLE & GOOGLE PLAYWith Hjulmand now moving for just €40m, according to Fabrizio Romano, it arguably looks like Arsenal have missed out on a pretty good deal, with Newcastle’s Bruno Guimaraes likely to cost a lot more than that…???? BREAKING: Morten Hjulmand to Atlético Madrid, here we go! ???Sporting and Atléti agreed all terms and start paperwork exchange today for €40m fee plus add-ons.Danish midfielder joins until June 2031 and he will fly to Madrid TODAY. ?? pic.twitter.com/DoYps2edfJ— Fabrizio Romano (@FabrizioRomano) July 9, 2026Posting on X this morning, Romano said: “BREAKING: Morten Hjulmand to Atlético Madrid, here we go! Sporting and Atléti agreed all terms and start paperwork exchange today for €40m fee plus add-ons. Danish midfielder joins until June 2031 and he will fly to Madrid TODAY.”This can basically be treated as a done deal at this point, barring any late surprises, so Arsenal will now have to hope moves for other targets come off.Want more CaughtOffside coverage? Add us as a preferred source on Google to your favourites list for news you can trustArsenal focusing on Guimaraes but could Hjulmand have been better?Guimaraes is Premier League-proven, and it’s fair to say that clubs might justifiably feel it’s worth paying extra for that as you never know how a player from the Portuguese league will adjust to the big step up in terms of both quality and physicality in the English top flight.Ultimately, it remains to be seen how much AFC end up paying for Guimaraes if they do get him, but in a post yesterday Romano suggested it could go as high as £90m…???? Arsenal prepare new official bid for Bruno Guimarães: Arteta wants him. ??£55m already rejected, second approach at £65m package rejected too — fee in between £65m and £90m could accelerate talks.Bruno told Newcastle last week that he wants #AFC move but won’t create… pic.twitter.com/DPa3QyMJpE— Fabrizio Romano (@FabrizioRomano) July 8, 2026More Stories / Latest News“Here we go” – Arsenal to miss out on bargain midfield transfer after Fabrizio Romano’s morning updateJul 9 2026, 8:29“Agreed terms” – Barcelona make bid for Arsenal & Man Utd transfer target, says Fabrizio RomanoJul 9 2026, 8:08England star’s absence from training is precautionary, he is expected to face NorwayJul 9 2026, 8:05If it’s closer to £65-70m, then that would be good business for the Premier League champions, but any higher than that and it’s a huge sum for a player who’s turning 29 later this year.Hjulmand is younger and a lot cheaper, so could perhaps have been a smart bit of business if they’d followed through with their interest.The post “Here we go” – Arsenal to miss out on bargain midfield transfer after Fabrizio Romano’s morning update appeared first on CaughtOffside.