Transfer business this summer is likely to be delayed for the month Euro 2016 is underway, as selling clubs hope to see their coveted participating players drive up their value, and buying clubs enjoy a month's bonus scouting. However, once the tournament finishes, there ought to be a flurry of movement as teams look to consolidate their squads in time for preseason, and there are a couple of reunions on the table for Swansea:
Will it help the Swans: Almost certainly.
There's an obvious romance in the former Swansea youth product returning to his boyhood club, but even cynics would find it difficult to argue he couldn't help his old side. Allen has improved at Liverpool, undoubtedly benefiting from superior training facilities and playing alongside a higher standard of player. Swansea wouldn't be getting the same player they sold for £15m in 2012 but rather an improved model, while Allen would see a lot more first-team action, so the move would be far from a backwards step for either party.
The asking price might seem steep, but Liverpool would like to recover as much of their original outlay as possible. Swansea know exactly what they'd be getting with Allen, and will be comfortable paying a premium for a player they know will fit in. However, Jack Cork is perhaps an even better player than Allen and cost only £3m, while Leicester's capture of N'Golo Kante last summer for less than £6m proves there are better bargains to be found if the club wanted to restock its midfield more frugally.
Is the move likely: If Allen has an outstanding Euro 2016, he might play his way to either a new Liverpool contract or an offer from another big side. Failing that, Swansea will be happy to pay for the risk-free return of one of their own. It seems more likely to happen than not.
Will it help the Swans: More than just about any other move the club could make. Bony was an enormous success in Swansea, scoring 0.5 goals per game in his 18-month stay. The Swans struggled to score last season, with Bafetimbi Gomis suffering a season-long drought and new man Alberto Paloschi struggling to adapt to life in Wales.
Bony's stock has nose-dived since his lucrative move to City, where he struggled to find enough game time to thrive. He was never likely to shine playing in the shadow of Sergio Aguero, and at this point other big clubs will likely be cautious about meeting City's rumoured expectation of £20m for a potential flop.
Swansea have an advantage in the market: a buy-back clause that will allow the club to secure their former top scorer for just £15m, while agreeing to write-off around £8m of future payments City would have paid as part of the original deal. All told, that means Swansea would more or less break even financially on the sale and return of Bony, which isn't a bad deal for a proven goal scorer.
Is the move likely: Wages are said to an obstacle. Swansea can't match what City were paying, but if a Bony reunion means Swansea finish just a single place higher in the table, that will earn the club an extra £1m; enough to cover an extra £20,000 a week in wages, which could sweeten the pot. Striker is the most important and difficult position to fill in football, and Bony would solve that problem in one stroke. This is the one player worth Swansea taking a financial risk over, but it seems more likely the club will err on the side of caution. If the club's new owners wanted to make an extravagant gesture to win the fans' adoration, this would do nicely.