Newcastle have reportedly lodged an official bid for Osasuna's highly-rated winger, Víctor Munoz.
According to football transfer expert Fabrizio Romano, the Magpies have formalised their interest in the Spanish winger, who has emerged as a top target following the departure of Anthony Gordon earlier this summer.
Negotiations are now said to be actively ongoing on both the club and player side as all parties attempt to reach a final agreement.
Newcastle chase £30m deal for Spanish attacker
The proposed package, reportedly worth an initial €30-35 million (£26-30m) plus add-ons, would comfortably smash Osasuna's previous record sale, which has stood for almost 20 years since Raul Garcia joined Atletico Madrid for €13m (£8.5m) in 2007.
However, the financial mechanics of the deal are somewhat complicated.
When Real Madrid sold Muñoz to Osasuna in July 2025 for €5 million, recruitment sources, and now Romano, claim the LaLiga giants retained a 50 per cent sell-on clause.
This means that last season's runners-up in Spain are owed exactly half of whatever Newcastle end up paying for the attacker, presenting a major windfall for the Spanish capital club.
This will also inflate the price Osasuna are likely to command for Munoz, given half of their earnings are expected to be forfeited to Madrid.
Born in Barcelona, 22-year-old Munoz spent his early years developing at the famous La Masia academy before moving away.
In 2021, he made the controversial cross-country switch to join Real Madrid’s youth set-up, eventually thriving for their reserve side, Real Madrid Castilla.
Known primarily for his pace down the flanks, Munoz can operate as a direct winger on either side of the pitch or as an advanced forward.
Last season, he proved a vital spark for a struggling Osasuna side, registering a respectable return of seven goals and five assists across 36 appearances in all competitions.
His stellar domestic performances even earned him a senior international debut for Spain in early 2026, where he caught the eye by scoring in a 3–0 friendly victory over Serbia.
