newcastle united A major move has reportedly been made towards the signing of Victor Munoz, with the Spaniard claiming the Premier League club already has an agreement with the Osasuna winger.
The Magpies have emerged as the strongest contenders for the 21-year-old in recent days, with reports suggesting a deal worth more than €30m (£25.6m) plus bonuses is being discussed.
However, according to local Spanish outlets navarra diaryThe biggest complication is no longer convincing the player or negotiating with Osasuna.
It is Real Madrid who live right in the middle of the story.
Newcastle and the players have already agreed
One of the biggest updates from Diario de Navarra is the claim that Victor Munoz has already agreed a contract with Newcastle that runs until 2031.
According to the newspaper, the attacker believes Newcastle is the ideal place to continue his career. He feels he will get opportunities there, and his high-intensity style of football is considered suitable for the Premier League.
this is a good update from earlier reports Which shows that there are still some issues along the way. Diario de Navarra instead paints a picture of a player who has effectively chosen his destination.
The report also states that other clubs have contacted Osasuna in recent days. However, no one has worked as hard as Newcastle or made as much progress towards a deal.
Mourinho doesn't want him - but Real Madrid still want influence
According to Diario de Navarra, the Spanish giants have already informed those involved that they do not intend to activate the buyback clause they negotiated when selling Munoz to Osasuna last summer.
This option will be valid until July 31 and would allow Real Madrid to bring him back for around €7.5m (£6.4m).
The newspaper says club officials discussed the possibility with Jose Mourinho as part of planning for next season. The Portuguese manager reportedly decided that Munoz was not the player he wanted in his team.
On the surface, this would make Newcastle's job easier.
The problem is that Real Madrid still does not want to lose complete control over the player developed in its academy. The report adds that the club would ultimately be uncomfortable seeing him end up at Barcelona and are therefore trying to ensure some sort of security before pushing the deal forward.
One possibility would be another buyback clause, although Diario de Navarra believe Newcastle would be highly unlikely to accept it. The right of first refusal is considered a more realistic solution.
Newcastle have still not submitted an official bid
Despite all the confidence surrounding this move, there is one important detail. Diario de Navarra report that Osasuna were still waiting Newcastle's official written proposal By Monday afternoon.
Talks have been going on since last Thursday and many important things have been understood. However, formal paperwork has not yet arrived.
Newcastle have reportedly made it clear that they will not pay the full €40m (£34.1m) release clause. Instead, the set fee is expected to start above €30m (£25.6m). The bonus makes up the rest of the package.
Once the offer comes, Osasuna will immediately inform Real Madrid. The Spanish giants will have 48 hours to formally decide whether they want to activate their buyback option or step aside.
🇮🇹David Bartesaghi | From Italy: Newcastle United initiate contacts to potentially sign AC Milan defender https://t.co/VySTlTr4BR #nufc
- Sports Witness (@Sport_Witness) 16 June 2026
Deal could rewrite Osasuna history
There are a lot of moving parts due to the agreement signed when Osasuna bought Munoz last summer.
The Spanish club paid €5m (£4.3m) for the winger. Real Madrid retained 50% of its economic rights.
This means that half of any future transfer fees will be sent directly to Madrid. In addition, 5% of the deal must be distributed to clubs involved in player development through FIFA's solidarity mechanism. That would be Barcelona, Damien, Real Madrid and Osasuna.
Even after those cuts, Osasuna are expected to make more money than they received when Raúl García transferred to Atlético Madrid in 2007. That €13m (£11.1m) transfer remains the club's record sale.
However, for Newcastle, the most encouraging thing is that Victor Munoz already appears confident. The player has been offered a contract until 2031 and believes the move is the right one for his development. Now it's just a matter of waiting for the clubs to complete the deal.
