Why Marc-Andre ter Stegen could see Barcelona loan exit scuppered as out-of-favour goalkeeper faces transfer limbo

The January transfer window was supposed to offer Ter Stegen a lifeline, but it has instead delivered a fresh injury nightmare. The German goalkeeper, who has fallen down the pecking order at Barcelona, was forced to withdraw from the club’s Spanish Super Cup squad in Saudi Arabia this week after sustaining a knee problem during a training session.

While his teammates prepared for their semi-final clash in the Middle East, which they won 5-0 against Athletic Club, the 33-year-old was put on a plane back to Catalonia to undergo urgent medical tests. The club acted swiftly to call up reserve goalkeeper Diego Kochen as a replacement, but the focus remains firmly on the severity of Ter Stegen's condition.

Although Mundo Deportivo reports the injury is not expected to be a serious one, the timing could not be worse. Ter Stegen only returned to action in December following extensive back surgery, and clubs are naturally wary of signing players with recurring fitness issues. Any diagnosis that requires a layoff of more than a few weeks would effectively kill any chance of a transfer before the window slams shut on February 1, leaving him stranded on the bench at Camp Nou.

His fitness woes are particularly devastating because the latest setback comes just as Ter Stegen had made a decisive call on his future. For months, the shot-stopper had resisted the idea of leaving the club he has called home since 2014. However, the reality of his situation has finally set in. With the 2026 World Cup in North America looming this summer, Ter Stegen knows he cannot afford to spend the second half of the season as a spectator.

Germany national team coach Julian Nagelsmann has made it clear that regular minutes are a prerequisite for inclusion in the tournament squad. Faced with the prospect of missing what would likely be his final chance to represent his country on the global stage, Ter Stegen reportedly softened his stance this week, informing the Barcelona hierarchy that he is "open" to a loan move.

His preferred destination is understood to be Girona. The move appeals on a logistical level, allowing him to remain in Catalonia without uprooting his family, while offering him regular La Liga football. It seemed like the perfect solution for all parties, until his knee gave way on the training pitches of Saudi Arabia.

Even if medical scans clear Ter Stegen of serious damage, a move to Girona is far from a formality. In fact, the financial complexity of the deal threatens to scupper the move just as much as any injury.

Barcelona are desperate to trim their wage bill to comply with La Liga’s strict financial fair play regulations. Offloading a high earner like Ter Stegen, even temporarily, is a priority for sporting director Deco. However, Girona’s financial reality is vastly different from that of their neighbours.

Reports indicate that Girona have a strict salary cap structure and can only contribute approximately €1 million towards Ter Stegen’s wages for the remainder of the season. This figure represents a fraction of his substantial salary package. For the loan to proceed, Barcelona would be forced to continue paying the vast majority of his wages while he plays for a local rival.

This presents a dilemma for the Barcelona board. While they want to respect the player’s wish to play and appreciate his years of service, subsidising his salary to such a degree makes little economic sense, especially when the primary goal of his exit is to save money.

Ter Stegen now finds himself in a state of professional limbo. He must wait nervously for the results of his scans, knowing that a clean bill of health is only the first hurdle. If he is fit, he then faces a tense negotiation period where he must hope that Barcelona agree to swallow the financial hit to facilitate his exit.

If the move collapses due to either the knee injury or the wage dispute, the consequences for the goalkeeper would be severe. He would likely remain stuck as a backup option for the remainder of the campaign, a scenario that would almost certainly cost him his place in the Germany squad for the World Cup.

For a player who has won the Champions League and multiple La Liga titles, the prospect of watching the season fade away along with his World Cup hopes from the treatment room or the substitutes' bench is a bitter pill to swallow. The next few days will determine whether his Barcelona career ends with a new adventure or a quiet, frustrating fade into the background.