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Real Madrid are reportedly keen on Arsenal and Spain midfielder Martín Zubimendi, although the Premier League champions have no desire to part ways with him.
Madrid have completed six first-team additions this summer, yet have failed to resolve the persistent void in the center of their midfield.
Los Blancos have struggled for presence in that area since Toni Kroos and Luka Modrić departed, and it was widely expected the club would prioritize signing a deep-lying playmaker during this transfer window.
That now appears unlikely. After Yan Diomande arrived as the headline signing at a record-breaking €140 million ($162 million), Real Madrid had targeted Manchester City star Rodri following his World Cup-winning exploits with Spain.
However, the 30-year-old has since made his desire to join Barcelona clear, leaving Madrid without a plan. It has since been reported that José Mourinho's side won't be pursuing alternative options.
During preseason, the new head coach has also spoken about preferring a lean squad, suggesting the majority of the club's remaining activity before the Sept. 1 transfer deadline will involve departures rather than arrivals.
Zubimendi Interest Lingers
Despite all of this, the transfer rumor mill keeps spinning. football.london report that Madrid have their eye on 27-year-old Zubimendi, who claimed the Premier League title with Arsenal in 2025–26 and featured in Spain's victorious World Cup campaign earlier this summer.
That report states Arsenal have no intention of selling, but could be swayed by a substantial offer, particularly following the recent acquisition of Bruno Guimarães from Newcastle.
They are not the only publication linking Zubimendi with Los Blancos, as Mundo Deportivo has also described the deal as "a possibility that seems complicated but not impossible."
Madrid were notably keen on the midfielder last year when he was still at Real Sociedad, but missed out on signing him after making their move too late, by which point he had already committed to Arsenal.
It is reported that Xabi Alonso's Chelsea would compete with Madrid for the player should he become available this summer, and that it would require at least €90 million ($100 million) to push through a transfer—considerably more than a deal for Rodri would have cost.
AS, an outlet with closer ties to Madrid's inner workings, claims that Los Blancos have not "made moves" for the Arsenal man. Instead, the players under observation are Adam Wharton (Crystal Palace), Kees Smit (AZ) and Ayyoub Bouaddi (Lille), along with Chema Andrés—the 21-year-old Stuttgart talent who can be signed via a buyback clause.
The Missing Piece at Real Madrid
Regardless of how serious Madrid's interest in Zubimendi truly is, the Arsenal star would represent an astute acquisition. Los Blancos have long been in need of a top-quality midfielder capable of protecting the backline and controlling the tempo of play. And if Rodri is off the table, why not pursue the next best alternative?
Zubimendi has regularly filled in for the 2024 Ballon d'Or winner in the Spanish national team and has impressed whenever called upon—most notably in the Euro 2024 final, when he came off the bench at the interval during the 2–1 victory over England.
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While not as physically imposing as Rodri, he possesses a comparable tactical awareness and ability to read the game, enabling him to function as the team's heartbeat. Zubimendi ranked 14th among midfielders in the Premier League last season for tackles, and seventh for both interceptions and accurate short passes. At 27, he is at the peak of his powers and would offer greater longevity than Rodri, as well as more proven quality compared to some of the younger candidates being discussed.
As it stands, Madrid will enter the new season with six players competing for two midfield pivot spots in Mourinho's favored 4-2-3-1 system: Aurélien Tchouaméni, Federico Valverde, Eduardo Camavinga, Arda Güler, Thiago Pitarch and summer signing Bernardo Silva.
Some reports suggest Silva is being considered for the 'Rodri role' in the absence of a new signing. However, despite his versatility, Silva's profile does not align with the more defensively-oriented Zubimendi, and the 32-year-old has generally been deployed in more attacking roles throughout his career.