Borussia Dortmund and 1. FC Köln Clash Over Said El Mala Valuation

The €50 Million Valuation Gap and Rejected Bids

The protracted transfer saga surrounding Said El Mala has intensified as Borussia Dortmund test Köln’s resolve with multiple offers. According to reporting from Sky Sports in Germany, BVB submitted two offers for El Mala, but both proposals were rejected by Köln. The club is holding firm on a valuation of up to €50 million for the talented 19-year-old forward.

Reports differ on the exact construction of Dortmund’s latest financial proposals.

Köln sporting director Thomas Kessler made it clear that the club will not part ways with their prized asset below their set price. Meanwhile, BVB sporting director Ole Book dismissed swirling figures as a flood of false information following a pre-season friendly defeat.

Lothar Matthäus Weighs in on El Mala’s Ambitions

Lothar Matthäus has injected himself into the transfer poker, expressing firm belief that the young winger is pushing for the switch. Writing in his Sky column, Matthäus argued that the sporting pull of Dortmund outweighs fighting near the bottom of the table.

“El Mala wants to join Dortmund. He may not be saying that out loud. But of course it is more interesting to play in the Champions League and for the top CL places than to avoid the bottom third with Cologne.”

Lothar Matthäus, via Sky column

Matthäus also pointed to international ambitions as a driving factor for the teenager. With Julian Nagelsmann having omitted the winger from the 2026 FIFA World Cup squad, Matthäus believes that working under consideration of new national team coach Jürgen Klopp makes a move to a Champions League regular imperative for El Mala’s development.

To put the steep asking price into perspective, Matthäus compared Köln’s €50 million demand to recent market movements, noting that Karim Adeyemi recently joined FC Barcelona for €22 million. That is a lot of money, that is basically two Adeyemis, Matthäus remarked, while acknowledging that a fee in the region of €40 million should at least force open the negotiating door.

Breakthrough Campaign and Competing Suitors

The intense interest from Borussia Dortmund follows a breakthrough season in the Bundesliga. El Mala featured in all 34 league matches for Köln, registering 13 goals and five assists. His exceptional dribbling and creative abilities have kept scouts circling for months.

The player’s contract runs through 2030, giving Köln considerable leverage despite the player signaling his willingness to move to Borussia Dortmund. Earlier in the transfer cycle, Brighton tested Köln’s resolve with opening proposals before Brentford had an offer accepted, though that move was rebuffed by the player.

While AS Roma were initially linked with a willingness to spend significantly past the €40 million threshold, reports indicate the Italian side has since withdrawn from the race. Premier League clubs have also monitored the situation, but Dortmund remain a persistent domestic suitor.

Pre-Season Focus Amid Unresolved Future

Despite the persistent speculation and the protracted nature of the negotiations, El Mala has maintained professionalism on the training ground. Köln coach Rene Wagner has praised the youngster’s focus during pre-season preparations.

The forward recently demonstrated his on-field quality by scoring his first goal of the campaign during an 8-0 friendly victory over Bergisch Gladbach. Whether Borussia Dortmund and Köln can bridge the valuation gap in the coming weeks remains uncertain, leaving open the possibility that El Mala will begin the new campaign wearing the red and white of Köln.