Preston North End may have been lucky to miss out on £5m transfer based on Sheffield United evidence | OneFootball

History reflects kindly on Preston North End after missing out on £5 million deal

Preston North End were part of an extremely tight fight for the play-offs in January 2023, and the temporary addition of Tom Cannon nearly tipped it in their favour.

The Lilywhites famously didn’t concede a goal for the first seven games of the 2022/23 season but were struggling to score at the other end.

Then-manager Ryan Lowe looked to the January transfer window as an opportunity to bolster his attack and got to work quickly.

PNE secured Everton youngster Tom Cannon on loan until the end of the campaign, a player who had little senior experience, with hopes that the talent could provide the difference they needed to finish in the top six.

Preston North End were beaten to permanent Tom Cannon deal – but they may have dodged a bullet

The striker quickly got to work on Deepdale, netting eight times for the Lilywhites and becoming a fan favourite in the process.

PNE didn’t achieve their play-off goal, but the summer of 2023 began with a clear determination from both supporters and the club to bring Cannon back.

It soon became apparent that this wouldn’t be another loan deal, with Everton opting for a permanent sale as the weeks dragged on closer to the deadline.

North End eventually stumped up £5 million to try and secure the forward’s services, which would’ve smashed PNE’s previous transfer record of David Healy in 2000 and represented a significant investment for the club.

Cannon was even spotted in the director’s box at Deepdale during pre-season against Aberdeen, which led many to think a transfer was in the works.

However, recently relegated Leicester City managed to better North End’s offer and the Everton forward was on his way to the King Power Stadium, despite Ryan Lowe confirming that everything had been agreed with the Toffees in regards to a transfer fee before being gazumped by the Foxes.

Although Enzo Maresca’s side clinched the Championship title that year, Cannon arrived injured and had to settle for a rotational role, and he would be loaned out to Stoke City for the first half of last season, where he scored nine times in 22 league matches - although four of those came in one game against Portsmouth.

Sheffield United eventually forked out £10 million for the attacker in January, but the 22-year-old didn't manage to get going at Bramall Lane in the second half of the 2024-25 campaign, netting just once in 17 games for the Blades despite being expected to make a massive impact.

Cannon would more often than not play backup to Kieffer Moore and Tyrese Campbell under Chris Wilder, and whilst a change in head coach to Ruben Selles may unlock the Republic of Ireland international's potential, he certainly didn't show many positives in his first few months at Bramall Lane.

At this moment in time, Cannon has regressed since his standout loan move to North End, which in hindsight reflects fondly upon the Lilywhites.

If North End had invested £5 million into the striker and he had a similar downturn in form, it could’ve been catastrophic to their future transfer plans - and they may have invested better anyway into the striker they ended up bringing to Deepdale.

Preston North End bought Milutin Osmajic – He has turned out to be a deadly goalscorer

Instead of outlaying such a large amount of money on Cannon, PNE used some of that capital to sign Milutin Osmajic from Cadiz.

The striker did break the Lilywhites’ transfer record for £2.15 million, but for a significantly smaller fee than what Cannon was going to arrive for, and has turned out to be a lethal frontman.

His time at Deepdale has been showered in controversy, but the 25-year-old’s goalscoring record doesn’t lie.

After sending the Alan Kelly Town End into raptures with his first goal against Birmingham City, the striker from Montenegro has come on leaps and bounds, netting 15 times in all competitions last term after a slow but steady first season, where he scored eight goals.

Last season's exploits included a hat-trick at Harrogate Town alongside crucial strikes against Burnley in the FA Cup and Bristol City on the final day to ensure PNE’s survival.

At the time, North End felt like missing out on Cannon may have cost them the chance of making that next step and finishing in the play-offs.