Leeds United are approaching the January transfer window with a familiar sense of anxiety, uncertainty and necessity — a combination that has become almost synonymous with the modern era at Elland Road.

The club know that action is required. Results have been inconsistent, performances remain uneven, and while there are clear signs of progress under Daniel Farke, there is also a growing awareness that standing still could be just as dangerous as overreaching. All of this is unfolding against the backdrop of Profit & Sustainability Rules (PSR), which continue to dictate every meaningful decision made behind the scenes.

PSR, perception and the January balancing act

Recent comments from former Leeds defender Robbie Evans suggested that even a single new signing could push Leeds “over the edge” financially. Those remarks sparked concern among supporters already weary of financial mismanagement from previous regimes. However, LeedsUnited.News understands that such claims do not reflect the reality of the club’s current position.

Sources insist that Leeds still have headroom within PSR parameters. More importantly, the 49ers ownership group are willing to provide Daniel Farke and sporting director Adam Underwood with money to spend — but only if that spending is supported by sensible outgoing business.

January, therefore, is not about reckless investment. It is about recalibration.

A squad in need of trimming

Leeds’ squad has gradually become bloated, particularly with players who are either no longer central to Farke’s plans or whose roles have diminished due to form, fitness or tactical evolution. As a result, the club would welcome interest in several senior figures if it allows wages to be cleared and funds recycled.

Joel Piroe’s situation is a prime example. Signed with high expectations, the forward has struggled to impose himself consistently and may benefit from a change of environment. Sam Byram, respected internally for his professionalism, has found minutes hard to come by and could be tempted by a move offering greater regularity.

Seb Bornauw, meanwhile, has yet to fully convince since his arrival, while Jack Harrison’s name continues to hover around transfer speculation. Once a fan favourite and attacking talisman, Harrison’s role has gradually diminished, and a permanent departure may be viewed as the cleanest solution if the right offer arrives.

Yet despite all of those possibilities, none carry the same urgency or consequence as the situation surrounding Illan Meslier.

From prodigy to problem asset

Meslier’s story at Leeds United is one of promise, pressure and decline. Thrown into the deep end as a teenager, he quickly established himself as a fearless shot-stopper capable of keeping Leeds competitive against elite opposition. His performances during the club’s Premier League spell earned widespread praise and placed him firmly on the radar of Europe’s biggest clubs.

At one stage, Meslier was spoken of in the same breath as Europe’s top young goalkeepers, with valuations reaching figures that now feel almost surreal.

But football moves quickly.

A combination of defensive instability, individual errors and confidence issues gradually eroded Meslier’s standing. Changes in management did little to help, and as Leeds’ fortunes dipped, so too did his form. Now, in a stark reflection of how far things have fallen, Meslier finds himself third choice at Elland Road.

Worse still for Leeds, his contract expires next summer.

That single detail has turned Meslier from a potential asset into a looming liability.

Interest builds as Celtic circle

Meslier’s representatives are acutely aware of the situation and have been actively sounding out options. According to TeamTalk, both Inter Milan and Celtic have already held talks about a possible move, with the January window fast approaching.

Inter Milan’s interest speaks to the reputation Meslier still holds on the continent, but the reality of a move to the San Siro is far from ideal for the player. At Inter, Meslier would almost certainly be a rotational or backup option — a scenario he is desperate to avoid after months spent on the sidelines at Leeds.

Celtic, however, present a very different proposition.

The Scottish champions can offer Meslier regular football, domestic dominance, European exposure and — perhaps most importantly — trust as a clear number one.

Turmoil in Glasgow creates an opening

Celtic’s recent week has been nothing short of chaotic. After an impressive interim spell from Martin O’Neill, which yielded seven wins from eight matches and briefly restored optimism, the club opted to appoint Wilfried Nancy as head coach in a bold, forward-thinking move.

Nancy arrived with a strong reputation forged in MLS, where his teams at Montreal and Columbus Crew were admired for their attacking philosophy and tactical innovation. Celtic fans were cautiously optimistic.

Those hopes have quickly faded.

Defeats to Hearts and Roma set the tone before Sunday’s League Cup final at Hampden Park delivered a crushing blow. Celtic’s 3-1 loss to St. Mirren not only ended their hopes of silverware but also exposed deep-rooted issues across the squad.

In the aftermath, scrutiny has intensified — and Kasper Schmeichel has found himself firmly in the spotlight.

Schmeichel under pressure

Schmeichel’s arrival was supposed to bring calm, experience and leadership. Instead, recent performances have raised uncomfortable questions. Errors, questionable positioning and a lack of authority have drawn criticism from supporters who are unaccustomed to seeing such uncertainty between the posts.

While Schmeichel is far from Celtic’s only problem, goalkeepers are often judged more harshly — and the calls for change are growing louder by the week.

In that environment, Meslier’s name has begun to circulate more prominently among Celtic circles.

Why patience may suit Celtic

From Leeds’ perspective, the ideal outcome is clear: sell Meslier in January, recoup a fee — however modest — and reinvest. Even a reduced sum would be preferable to losing him for nothing.

But the problem is leverage.

From January 1, Meslier is free to sign a pre-contract agreement with any non-English club. Leeds would have no power to block such a move, nor would they be entitled to a transfer fee.

This reality puts Celtic in a position of strength.

Rather than rushing into negotiations, they may choose to wait. Keeping Schmeichel until the summer, despite his struggles, allows Celtic to address other areas of the squad while securing Meslier on a free transfer once his Leeds contract expires.

From a financial standpoint, it is a strategy that makes sense.

Leeds staring at a familiar dilemma

For Leeds United, the situation is deeply uncomfortable — and painfully familiar. Once again, the club risks seeing a valuable asset leave for nothing due to contract mismanagement and poor timing.

Unless a club suffers an immediate injury crisis and requires a goalkeeper in January, Leeds may find it impossible to force a sale. Meslier, aware of his options, holds the upper hand.

He wants to play. He wants stability. And after years of turbulence at Elland Road, the prospect of a move to Celtic — where he would be trusted, supported and central to a rebuild — is increasingly appealing.

Whether Leeds can salvage a fee, or whether Celtic decide to wait and strike later, remains to be seen. But one conclusion feels inescapable.

Illan Meslier’s Leeds United career is nearing its end.

And for a club trying desperately to balance ambition with financial reality, the ticking clock on his contract may yet become one of the most frustrating subplots of the January transfer window.

The countdown has begun.