Liverpool sign Victor Munoz; Real Madrid to receive €20m

Liverpool have completed the €40 million signing of 22‑year‑old Spanish winger Victor Munoz from Osasuna, triggering a €20 million payment to Real Madrid under the clause agreed when he left the Bernabeu. The transfer follows a season in which Munoz made 34 league appearances, 31 as a starter, and scored six goals for Osasuna.

Newcastle United had been seen as the leading candidate for Munoz, but Liverpool acted swiftly to secure the winger. New Liverpool manager Andoni Iraola described Munoz as a key addition to replace Mohamed Salah, who has left the club.

Osasuna originally paid €5 million for Munoz last summer. Half of Liverpool’s €40 million fee, €20 million, goes to Osasuna, delivering a substantial profit.

Real Madrid will receive the remaining €20 million from the transfer, bringing its total earnings from the player to over €25 million. The club retained 50 % of Munoz’s economic rights and reportedly kept a buy‑back option, although some sources dispute the latter.

Munoz made four first‑team appearances for Real Madrid before moving on. He debuted for the senior side in the 2024/25 season under Carlo Ancelotti.

During his season with Osasuna, Munoz featured in 34 La Liga matches, starting 31 of them. He also scored six goals, performances that earned him a place in Spain’s World Cup squad.