How Victor Munoz's Shocking Transfer Shakes Up Liverpool, Real Madrid, and Newcastle's Plans

Liverpool are poised to complete the signing of Víctor Muñoz in a €40 million ($46 million) deal from Osasuna, edging out Newcastle in the race for the talented young winger.

The 22-year-old Muñoz, currently representing Spain at the 2026 World Cup, had been widely tipped to join Newcastle this summer, with the two clubs reportedly deep in negotiations. Liverpool, however, have swooped in at the last moment to steal the deal from their Premier League counterparts.

Fabrizio Romano was first to report that Liverpool have "verbally agreed terms" with Muñoz and plan to trigger his contractual release clause. The Athletic and several other outlets subsequently corroborated the report.

Alongside Newcastle's pursuit, there had also been talk of Muñoz potentially returning to Real Madrid during this transfer window.

The young talent, who came through the academies of both Barcelona and Madrid, made four appearances for Los Blancos's senior side in 2024–25 before being offloaded to Osasuna for €5 million ($5.75 million) last summer. That agreement is reported to have contained a buyback clause.

What Type of Player Are Liverpool Getting?

Muñoz is regarded as one of the most exciting prospects in Spanish football, though his professional career began on a difficult note.

In May 2025, the young winger deactivated his social media accounts following online abuse from supporters after he squandered a one-on-one opportunity against Barcelona on his Real Madrid debut. He quickly regained his confidence after departing Madrid that same summer and delivered a standout breakout season in 2025–26.

Across 34 La Liga appearances, Muñoz netted six goals and contributed two assists for Osasuna, who narrowly escaped the drop. Only three players (Lamine Yamal, Vinícius Júnior and Kylian Mbappé) completed more dribbles throughout the campaign, while just one player under 25 (Yamal) attempted more shots.

Víctor Muñoz in 2025–26

Despite his teammates often struggling to impress, the young winger stood out with his direct running and clinical instincts. Sunderland were said to have had a verbal approach of around €25 million ($30 million) quickly turned down in January, and Muñoz went on to secure a spot in Spain's World Cup squad.

Predominantly deployed on the left flank, the right-footed Muñoz has also filled various attacking roles for Osasuna and is capable of playing on the right side or through the middle.

A lack of direct threat from wide areas was a notable weakness for Liverpool in 2025–26 as they struggled to replicate the previous season's title-winning form.

With Mohamed Salah's departure and Cody Gakpo's underwhelming recent performances, the acquisition of Muñoz signals a clear determination to inject pace and dynamism back into the wide positions.

What Does This Deal Mean for Real Madrid?

Although Madrid will not be reclaiming one of their former prospects, the transfer looks set to deliver a significant financial boost to Los Blancos.

When Muñoz moved to Osasuna, Real Madrid inserted a three-year buyback clause into the agreement, along with entitlement to 50% of any future sale fee. Los Blancos have structured similar arrangements with other recent Real Madrid Castilla graduates, including Nico Paz and Jacobo Ramón.

Should Liverpool's move for Muñoz proceed as anticipated at €40 million, Madrid stand to receive €20 million ($23 million)—a handy sum to be channelled back into Florentino Pérez's ambitious summer transfer plans.

In contrast to the situation with Muñoz, Madrid are still expected to exercise their buyback option on Como's Paz.

Newcastle Lose Out Again

Newcastle, for their part, will be left frustrated after once again being pipped by Liverpool to a key transfer target.

Last summer, Eddie Howe's club infamously watched star striker Alexander Isak engineer a record-breaking switch to Merseyside, while transfer target Hugo Ekitike also ended up at Anfield.

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Newcastle will be desperate to avoid repeating their previous failures in finalising transfers, having also missed out on Liam Delap, James Trafford and Bryan Mbuemo among other targets the previous year.

Following a disappointing Premier League season that saw Newcastle finish 12th, Howe and the club's hierarchy face a pivotal summer. Finding and securing a replacement for Anthony Gordon, who has since joined Barcelona, remains a top priority.