According to a recent update from Fichajes, Real Madrid are preparing to activate the buy-back clause to regain control of former academy winger Victor Munoz.
Once considered surplus to requirements at the club, the 22-year-old winger has rebuilt his career step by step at Osasuna, leaving behind the disappointment of his departure from Madrid.
As such, his growth has not gone unnoticed, with his performances now attracting renewed interest from his parent club.
It must be noted that Munoz joined Osasuna in 2025 after the La Liga side agreed to pay €5 million for 50% of his economic rights, along with a further €1 million in performance-related variables.
At the time, the deal was viewed as a clean break for a player in need of regular football and confidence. Since then, though, the decision has paid off handsomely for all parties involved.
As reported by the outlet, Real Madrid are now ready to trigger the buy-back clause set at €8 million.
Notably, the club’s intention is not to reintegrate him into the first-team squad, but to regain full control of his contract with a clear financial strategy in mind.
Since arriving at Osasuna, the 22-year-old winger has shown consistent improvement.
Across all competitions, he has registered four goals and four assists in 23 appearances, making him a key contributor in Osasuna’s attacking setup.
One detail that strengthens Madrid’s position is Osasuna’s buyout clause for third parties, which stands at €40 million.
This creates a significant margin for profit if Real Madrid complete the buy-back and then place Munoz back on the market.
The plan, according to the report, is to sell him on for a fee well above the €8 million investment.
Real Madrid see this as an opportunity to generate funds for priority signings without disrupting the current squad.