Víctor Muñoz has emerged as one of the breakout names of the season, and his recent call-up by Luis de la Fuente only confirms the level he’s been showing at Osasuna.

The winger, who joined Osasuna last summer from Real Madrid, remains closely tied to Los Blancos. The club retained key control mechanisms over his future: a buy-back option, right of first refusal, and 50% of his economic rights in any future transfer.

At Valdebebas, one thing is clear—Madrid will not allow him to end up at FC Barcelona, despite growing rumors in recent weeks. Thanks to their contractual control, the club can intervene decisively in any potential move.

This situation mirrors other academy cases such as Nico Paz and Jacobo, where Real Madrid maintain significant influence over their next steps. The policy has been consistent in recent years: no major decision is made without approval from the club.

Interest is already building across Europe, with clubs from the Premier League and Serie A monitoring his progress. Muñoz currently has a €40 million release clause, but Madrid can re-sign him for just €8M, €9M, or €10M over the next three summers. If they choose not to activate that clause, they still hold the right of first refusal—and would receive 50% of any future transfer fee.

In short, while Muñoz’s rise continues to attract attention, the final word on his future still lies firmly in Madrid.

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