Real Madrid to Earn €20 Million from Víctor Muñoz’s Liverpool Transfer
Real Madrid Víctor Muñoz Liverpool transfer brings profit.
Young attacker Víctor Muñoz is set to join Liverpool from Osasuna and will provide Real Madrid with a significant financial injection as a result.
It looked like the 22-year-old Spanish international would be joining Newcastle United, but Liverpool took the deal in the nick of time. It is now believed that Muñoz will be completing his move to Anfield, and signing his contract in the next few days.
However, Osasuna will be the ones to benefit from the main transfer fee, but it’s not just them. Real Madrid, which sold Muñoz to Osasuna last summer, had a 50% sell-on clause in the sale. This will result in Los Blancos getting an immediate €20m, transfer expert Fabrizio Romano says.
Romano also said there is no buyback clause for Real Madrid, but they have a right of first refusal on any future offers (with the player having the final say).
“Understand there’s NO buy back clause for Real Madrid in Víctor Muñoz to Liverpool deal. Real have right of first refusal in case of future proposals (and received €20m from Osasuna), but even in that case the player has final say. Muñoz, 100% #LFC player.” — Fabrizio Romano
This windfall will help Real Madrid to strengthen their squad this summer under Jose Mourinho.
Player Background: From La Masia to the Bernabeu
Victor Munoz Villanueva was born in Barcelona on 13 July 2003 and began his football education at one of the most famous academies in the world. He joined Barcelona’s La Masia at the age of eleven, but his path through youth football was far from straightforward. He left the Catalan club in 2017 to continue his development at CF Damm, a well-known breeding ground for young Catalan talent.
In 2021, Real Madrid came calling. Munoz joined La Fabrica, the Madrid academy, and worked his way through the youth structure, including a spell with the club’s satellite side RSC Internacional, before establishing himself with Castilla, the reserve team. The 2024-25 season was his breakthrough year: he made 34 appearances for Castilla, scoring 11 goals and providing seven assists, and was regarded as one of the standout performers of the side.
His form earned him a reward in May 2025. On 11 May, he made his senior debut for Real Madrid, coming on as a substitute for Vinicius Junior in the 88th minute of a 4-3 defeat to Barcelona in El Clasico. He went on to make further first-team appearances, including outings at the FIFA Club World Cup in the United States that summer.
With first-team opportunities limited at the Bernabeu, a move was needed for his development. On 11 July 2025, he signed a five-year contract with Osasuna. The deal was structured creatively: Osasuna paid around 5 million euros for 50 percent of his economic rights, with a further 1 million due in variables, while Real Madrid retained the other half along with a 50 percent sell-on clause.
Munoz settled quickly in Pamplona. He scored his first goal for the club on 25 September in a 1-1 draw against Elche, and his direct, high-energy style soon made him one of the most exciting young wingers in La Liga. His rise was recognised at international level too: on 27 March 2026, he made his debut for Spain, scoring in a 3-0 friendly victory over Serbia, and he was later selected in Spain’s squad for the 2026 FIFA World Cup.
Why Liverpool Want Him
Liverpool’s interest is easy to understand from a tactical point of view. Munoz is a traditional left winger whose greatest weapon is his speed. In 2024, the American outlet The Sporting News described him as the fastest player in the Real Madrid squad, and that acceleration is central to everything he does on the pitch.
Unlike many modern wide players who drift inside and look for combinations, Munoz is at his most dangerous running behind the defensive line. He stretches the pitch vertically, attacks space without the ball, and forces opposition full-backs to defend on the back foot. For a Liverpool side that has always valued intensity and direct running in wide areas, that profile is a natural fit.
There is also a versatility to his game. While he is most comfortable on the left wing, he can operate as a forward, giving a manager options across the front line. At 22, he combines proven La Liga experience with significant room for further development, which is exactly the kind of profile top Premier League clubs target.
The fact that Newcastle United were deep in talks before Liverpool intervened underlines how highly he is rated. When two ambitious Premier League clubs compete for the same young attacker, it is usually a sign that the underlying numbers and the eye test are pointing in the same direction.
Real Madrid Víctor Muñoz Liverpool transfer: What the Deal Means for Real Madrid
For Real Madrid, the sell-on clause inserted into the Osasuna deal is now paying off handsomely. Sell-on clauses are a standard tool for big clubs when selling academy players: rather than demanding a huge fee up front, which might block the youngster’s move, the club accepts a smaller initial payment in exchange for a percentage of any future transfer. In this case, Madrid’s 50 percent stake turns a 40 million euro move into a 20 million euro windfall.
That is an excellent return on a player who cost the club nothing in transfer fees and developed entirely within its academy system. It is also a reminder of how efficiently Real Madrid have managed outgoing youth talent in recent years, consistently inserting clauses that protect the club’s financial interests.
The reported right of first refusal is another interesting detail. It does not allow Madrid to block the Liverpool move, and the player always has the final say on his future, but it does mean that if Liverpool ever decide to sell Munoz, Real Madrid will be informed of any offer and given the chance to match it. For a club that likes to keep its options open on former academy players, that is a valuable safety net.
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