Newcastle CEO Reveals Club Outbid Liverpool in Summer Transfer Battle

Parma rejected a more lucrative proposal for Giovanni Leoni from Newcastle United before the young defender's prominent transfer to Liverpool, according to the Serie A outfit's CEO.

Liverpool finalized an initial £26 million ($34.9 million) agreement for Leoni in mid-August, with the potential to reach £30 million. The prospect has not yet featured in Premier League action, but the Reds chose to retain him in their roster instead of arranging an immediate loan move.

Leoni's sole squad inclusion to date came as an unused bench player during the 3–2 victory against Newcastle, coincidentally the same team that had offered Parma superior financial terms.

"I've consistently stated our desire to retain him, and he's always expressed contentment about remaining here. We actually rejected Newcastle's proposal, which was financially superior to Liverpool's eventual bid," Parma executive Federico Cherubini informed local publication Gazzetta di Parma.

"When Liverpool approached us, our strategy shifted: partly due to the appealing nature of their offer and partly because the player clearly indicated his enthusiasm for seizing this chance."

Parma gambled on Leoni the previous summer after observing his mere 12 outings in Italy's second division and have now reaped substantial rewards for their leap of faith.

"While it's regrettable to part with such a talented young prospect, we take pride in backing him during quieter periods, when his experience was limited to just a handful of Serie B matches," Cherubini noted.

Failing to secure transfer targets became a familiar pattern for Newcastle throughout the window, as they witnessed players like Matheus Cunha, Bryan Mbeumo, Benjamin Šeško, Liam Delap, João Pedro, Mohammed Kudus, Hugo Ekitiké and apparently Leoni choose alternative destinations.