Earlier this week we reported Victor Muñoz as a Liverpool target. Now the move is closing in on the finish line. He underwent his Liverpool medical on Wednesday and is set to sign a six-year deal, with Liverpool moving to complete a surprise £34.5m deal.
How the deal is being put together
The structure matters here. Liverpool triggered Muñoz's Osasuna release clause for £34.5m, and 50% of that fee is due to Real Madrid. That is a sizeable outlay for a player who has not arrived as a finished product, but it also tells you Liverpool wanted the deal wrapped up before rivals could get involved.
The reporting also says Andoni Iraola was a driving force in landing the 22-year-old. The club framing is still prospective, though, because the source language says Muñoz will sign rather than that every final registration step has already been confirmed.
Why Liverpool wanted him now
Muñoz's end product at Osasuna was modest but useful. He registered six goals and two assists in 34 La Liga games, which is not elite production, but it is enough to explain why Liverpool see upside in him as a forward-depth signing.
There is also some evidence of recent momentum. He posted a 7.34 average across his five most recent matches, and his best recent rating in the supplied data was 8.5 on 2026-05-17. Liverpool have also moved ahead of Newcastle United, Bayer Leverkusen, Manchester United and Real Madrid for the Spain international.
That combination makes the deal look less like a gamble on reputation and more like a club backing a player whose form has picked up at the right time. The fee is still steep, but Liverpool are not paying for a raw prospect from scratch. They are paying for a winger they think can help quickly.
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