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Liverpool FC has activated the €40 million release clause for CA Osasuna winger Víctor Muñoz, with club staff reportedly already in the United States to complete the 22-year-old’s medical. If finalized, the deal would represent one of Liverpool’s most aggressive summer moves in recent memory, and a brutal blow to Newcastle United, who had been in advanced negotiations for the Spanish international.
The transfer, first reported on June 17, 2026, has all the hallmarks of a classic last-minute hijack. Newcastle had reportedly been working on a deal valued in the mid-€30 million range, negotiating directly with Osasuna rather than triggering the full release clause. Liverpool, it seems, chose the more expensive but more decisive route: paying the full buyout and removing any room for negotiation.
A breakout season that caught everyone’s attention
Muñoz’s trajectory from Real Madrid academy product to World Cup-bound winger has been remarkably swift. Born on July 13, 2003, the right-footed left winger spent the 2025/26 La Liga season establishing himself as one of the league’s most exciting young attackers.
Across 34 appearances for Osasuna, he tallied 6 goals and 2 assists. His performances earned him 2 caps for Spain’s senior national team and, more notably, a spot in the squad for the upcoming 2026 World Cup.
Osasuna had clearly anticipated this moment. The club acquired 50% of Muñoz’s rights from Real Madrid for €5 million, plus €1 million in variables, back in July 2025. They then secured him on a contract running through 2030, with the €40 million release clause specifically applicable to clubs other than Real Madrid.
Newcastle’s near-miss and the hijack narrative
Competing reports paint two very different pictures of how this transfer unfolded.
One version suggests Liverpool effectively swooped in and hijacked a deal that Newcastle had nearly completed. Newcastle had reportedly agreed terms in the mid-€30 million range, a fee below the release clause that would have required Osasuna’s cooperation. Some reports indicate Muñoz had actually rebuffed Liverpool’s initial approaches in favor of moving to St. James’ Park.
The alternative version is simpler and more clinical. Liverpool paid the clause. When a release clause is triggered, the selling club has no say in the matter. It doesn’t matter how far along Newcastle’s negotiations were, or what personal terms the player had discussed.
No official confirmation has been issued by Liverpool, Osasuna, or Newcastle as of the latest reports.
What this means for the clubs involved
For Osasuna, the math works out clearly. They paid roughly €5 million for 50% of Muñoz’s rights a year ago. A €40 million exit, even after accounting for Real Madrid’s share of the proceeds, represents a massive return on investment.
The Real Madrid angle is worth noting. The €40 million release clause was specifically structured to apply to clubs other than Real Madrid, suggesting Los Blancos retained some form of preferential terms or buyback option. The fact that they apparently chose not to exercise whatever rights they held indicates they either didn’t rate Muñoz highly enough for their current squad or are comfortable banking their share of the transfer fee instead.
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