Real Madrid declines €8m buyback, Liverpool signs Munoz €40m

Real Madrid declined to activate a €8 million buy‑back clause for winger Victor Munoz, allowing Liverpool to trigger his €40 million release clause and sign the player. The decision, made in summer 2024, reflects the Spanish giants’ assessment of squad depth and financial return.

When Munoz moved to Osasuna, Real Madrid negotiated a buy‑back clause that would let the club re‑sign him for €8 million. The clause remained valid throughout his two‑year spell in Pamplona.

Liverpool exercised Munoz’s full release clause, paying €40 million to Osasuna and securing the winger’s services.

According to Mario Cortegana in The Athletic, the decision was rooted in sporting priorities, squad planning and financial considerations.

Coach Jose Mourinho’s squad already features a crowded attacking line‑up, with Vinicius Jr., Rodrygo, Brahim Diaz, Endrick and Franco Mastantuono all expected to feature prominently once fully available, limiting opportunities for Munoz.

Barcelona had shown interest in Munoz, and Real Madrid aimed to prevent a former academy product from joining their chief rivals.

The original deal with Osasuna included a 50 percent sell‑on clause, meaning Liverpool’s €40 million fee translates into an estimated €26 million return for Real Madrid after add‑ons.

Real Madrid considers the profit and the maintained squad stability a satisfactory outcome.