Confirmed: Real Madrid to receive €20 million as Liverpool sign former La Fabrica winger | OneFootball

Former Real Madrid winger Victor Munoz’s future has taken an unexpected turn.

The 22-year-old Spaniard has signed for Liverpool from Osasuna after the Premier League club activated his €40 million release clause.

The move sees the former Real Madrid and Barcelona academy player arrive at Anfield, where new manager Andoni Iraola views him as a key addition following Mohamed Salah’s departure.

€20 million for Real Madrid

For a long time, Newcastle United appeared to be favourites to sign the winger. However, Liverpool moved decisively and hijacked the operation, convincing Munoz to head to Merseyside instead.

The transfer also represents excellent business for Osasuna. The Navarrese club paid €5 million to sign the winger last summer and, after just one season, will pocket a substantial profit.

Half of the €40 million fee goes to Osasuna, while the remaining €20 million goes to Real Madrid thanks to the agreement reached when the player left the Bernabeu.

Including the original transfer to Osasuna, Real Madrid will have earned more than €25 million from a player who made just four appearances for the first team.

The Spanish giants are also believed to have retained a buy-back option, ensuring they can bring Munoz back in the future if they choose, although some sources dispute this claim.

A standout season at Osasuna

Munoz is now a Liverpool player. (Photo by Alex Caparros/Getty Images)

After making his first-tema debut at Real Madrid in 2024/25 under Carlo Ancelotti, the La Fabrica speedster signed for Osasuna last summer.

Munoz enjoyed an impressive campaign with Osasuna which earned him a place in Spain’s World Cup squad. He became one of the club’s most important players, making 34 league appearances, 31 of them as a starter, and scoring six goals.

His performances significantly increased his value and attracted attention from several clubs before Liverpool eventually secured his signature.

And, Real Madrid, having retained 50% of the winger’s economic rights while selling him to Osasuna in 2025, profit handsomely from the operation.