Liverpool Secures Spain Winger Victor Munoz for €40 Million After Real Madrid Rejected €8 Million Buyback Option

Liverpool has completed the acquisition of Spanish winger Victor Munoz from Osasuna, meeting his €40 million release clause and beating Newcastle United to his signature. The 22-year-old, currently on World Cup duty with Spain's national team, had been available to Real Madrid for just €8 million through a buyback option, which the Spanish club declined to exercise.

The Academy Path and Madrid's Decision

Munoz graduated from Real Madrid's La Fabrica youth academy before the club sold him to Osasuna for €5 million (plus €1 million in potential add-ons, nearly all of which were triggered) in July last year. The agreement included several buyback options spread across the first three seasons of his five-year contract, with the initial option valued at €8 million this summer. Despite this opportunity, Madrid chose not to invoke the clause, leaving some academy figures at the club with mixed feelings about the decision.

When Madrid parted with Munoz, he had accumulated just 47 first-team minutes across four appearances. His debut came as an 88th-minute substitute in a 4-3 La Liga defeat to Barcelona in May, where he squandered a clear chance to equalize. The miss drew criticism from the Madrid fanbase and affected Munoz personally, leading him to restrict comments on his Instagram account for an extended period afterward.

Breakout Season and International Recognition

Munoz's performance during the 2025-26 campaign transformed his trajectory entirely. Operating for Osasuna, the winger made 34 appearances across all competitions, scoring seven goals and providing five assists while establishing himself as one of La Liga's emerging talents. His form earned him international recognition, and he made his Spain debut in March with a goal against Serbia, collecting two caps for Luis de la Fuente's squad.

Barcelona had shown interest in pursuing Munoz during this period, reflecting his enhanced market value. However, Madrid's positioning—including a right of first refusal clause in the original sale agreement—effectively blocked any move to their direct rivals, even though Munoz was born and raised in Barcelona before joining Madrid's academy in 2021.

Liverpool's Acquisition

Liverpool's move for Munoz marks the first new addition since Andoni Iraola's arrival as head coach. The forward completed his medical at Spain's World Cup base in Tennessee and signed a long-term contract with the Premier League club. He will link up with his new teammates after Spain's World Cup participation concludes, with availability expected for the 2026-27 season. The deal follows Liverpool's earlier acquisition of Jeremy Jacquet earlier in the transfer cycle.