Man United transfer news: Red Devils suffer midfield blow as PSG 'agree' £59m deal

The 19-year-old has developed a reputation as one of Europe's brightest midfield targets following his emergence from Benfica's academy system.

The teenager has already made 75 competitive appearances for Benfica's first team, chipping in with four goals and three assists.

Neves, who helped Benfica win the 2022-23 Primeira Liga title, has also earned nine caps for the Portuguese national side, including appearances at the recent European Championships in Germany.

Having impressed for club and country, Neves emerged as a target for some of Europe's biggest clubs, including Man United and PSG.

Man United lose out in Neves race

The Red Devils are looking to bolster their midfield options, with uncertainty surrounding the futures of Casemiro and Scott McTominay.

However, they will have to consider alternative targets to Neves following reports that PSG have won the race to sign the Portugal international.

According to L'Equipe, the Ligue 1 champions have reached an agreement with Benfica to sign Neves for €70m (£59m) including bonuses.

The French giants have been able to persuade Benfica to agree a deal below the player's reported €120m (£101m) release clause.

The report claims that Renato Sanches will move in the opposite direction, with the Benfica academy product set to join his former club on a season-long loan deal.

Why could Neves's transfer benefit Man United?

While PSG may have won the race for Neves's signature, the imminent transfer could actually help Man United in their bid to sign a new midfielder this summer.

The Red Devils are keen to sign PSG midfielder Manuel Ugarte, who could depart just one year after joining the French side from Sporting Lisbon.

Man United have already agreed personal terms with the Uruguayan, but are yet to reach an agreement with PSG over a transfer.

The Red Devils will hope that Neves's arrival could help speed up Ugarte's departure, with the 23-year-old set to drop further down the pecking order at the Parc des Princes.

However, Man United may need to make a sale before they can push forward with their pursuit of Ugarte as they look to stay within the Premier League's Profit and Sustainability Rules.