Osasuna has reopened discussions about the future of winger Víctor Muñoz, confirming that Real Madrid retains a buy-back option that can be activated starting this summer. The club’s sporting director, Braulio Vázquez, made the comments in an interview with MARCA on April 23, 2026, emphasizing that Osasuna will not negotiate below the player’s 40 million euro release clause.
“We are not listening to offers; we are sticking to the clause,” Vázquez stated. “Real Madrid has three years of a buy-back option already agreed upon. We will enjoy Víctor until the end of the season. Football is very changeable.”
The comments come amid growing interest in Muñoz following his rapid rise to prominence. The 22-year-old Spain international made his senior debut for Real Madrid in May 2025 and has since become a regular for Osasuna, scoring five goals in 29 appearances since joining the club last summer.
Muñoz’s journey to the top began in Barcelona’s La Masia academy before moving to CF Damm and then joining Real Madrid’s youth system in June 2021. After spending time with Real Madrid’s satellite club RSC Internacional and their reserve team Castilla, he made his La Liga debut as a substitute for Vinícius Júnior in El Clásico against Barcelona on May 11, 2025.
Osasuna acquired 50% of Muñoz’s economic rights last summer, but Real Madrid retained the other half along with a buy-back clause that allows them to reacquire the player under pre-agreed terms. Vázquez confirmed that 50% of any future transfer fee would go to Real Madrid due to their retained stake.
Muñoz himself has acknowledged the whirlwind nature of his ascent. “It changed my life very fast and there’s no time to absorb it,” he said in a recent interview, reflecting on his progression from prospect to Spain international in under a year.
His international debut came on March 27, 2026, and he has since earned two caps for Spain, scoring one goal. The winger’s versatility—capable of playing as a wide attacker or central midfielder—has made him a valuable asset for both club, and country.
Despite interest from other clubs, including reported inquiries from Sunderland and links with Barcelona as a potential replacement for Marcus Rashford, Osasuna maintains that any discussion must begin at the 40 million euro valuation. Vázquez dismissed rumors of flexibility, reiterating the club’s position.
Real Madrid’s ability to activate their buy-back option adds a layer of complexity to Muñoz’s situation. While Osasuna hopes to retain his services, they acknowledge that the final decision may not rest solely with them if Madrid chooses to exercise their contractual right.
The player’s contract with Osasuna runs until 2029, but the existing agreement between the clubs means his immediate future is subject to the buy-back clause. As of April 2026, Muñoz remains an Osasuna player, with his focus on finishing the current La Liga season strongly.
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