Real Madrid Transfer Deal Sheet: Anticipations for the January Window

Real Madrid is entering the January transfer window with numerous inquiries regarding their squad depth.

Severe knee injuries to Dani Carvajal and Eder Militao have left the squad lacking in defensive options. Since October, Lucas Vazquez has been their sole senior right-back, while Antonio Rudiger has been their only senior centre-back since November, due to a series of injury issues affecting Carlo Ancelotti’s team.

There is unanimous agreement among Ancelotti, his staff, the players, their entourages, the fans, and media that reinforcements are essential. However, this does not guarantee that Madrid will pursue signings in January, as has been evident in previous years.

The Athletic outlines the expectations for January, featuring insights from sources wishing to remain unnamed to preserve their relationships…

What positions will they be considering in January?

There is a broad consensus within the club regarding the necessity of acquiring a centre-back and a right-back in the upcoming transfer windows.

Since October, chief executive Jose Angel Sanchez, chief scout Juni Calafat, director of football Santiago Solari, and Ancelotti have been aligned in their thinking. This is contingent upon whether viable options can be sourced in the notoriously challenging January market and awaiting the approval to sign new players from president Florentino Perez.

Carvajal’s season-ending injury complicated Madrid’s personnel challenges (Burak Akbulut/Anadolu via Getty Images)

The prevailing perspective at the club currently leans against making signings, as Carlo Ancelotti and his staff have consistently expressed concerns stemming from discussions with the board and information circulating in the media. The Italian has hinted at the possibility of new signings in various press conferences, despite previously ruling out that option to publicly align with the club’s stance.

Historically, Madrid has been cautious about making new acquisitions in January — their most recent first-team signing during that window was Brahim Diaz in 2019. They secured the winger from Manchester City as it presented a market opportunity, with his City contract set to expire in June that same year.

The consensus remains that it would require considerable time for a new player to arrive, acclimate, produce effectively, and, importantly, not merely serve as a stopgap while also ensuring financial prudence.

Which players are they interested in?

There is no singular standout target for Madrid in central defence — however, several names have surfaced in internal discussions.

Potential names include Al Nassr’s Aymeric Laporte and 18-year-old Palmeiras centre-back Vitor Reis. Some insiders view Napoli’s Rafa Marin as an appealing option. The Madrid academy graduate transferred to Napoli in the summer for an initial €11 million ($11.5 million; £9.1 million at current rates) with an option for the Italian club to pay an extra €10 million during the 2024-2025 season for long-term ownership, and he is currently not receiving much playing time in Italy.

The club contends that a better approach would be to continue relying on academy player Raul Asencio, who has made nine appearances since being promoted to the first-team as an emergency solution last month, or bringing back David Alaba. The Austrian centre-back underwent surgery on an anterior cruciate ligament (ACL) injury in December last year, and sources at Madrid’s Valdebebas training ground anticipate his gradual return to the bench by mid-January.

Laporte is among the names that have been mentioned as potential centre-back signings (Yasser Bakhsh/Getty Images)

The management emphasizes that in recent years, positive results have followed their strategic thinking, disregarding contrary opinions from within and outside the club.

Liverpool’s Trent Alexander-Arnold remains Madrid’s preferred choice for the right-back position. There is some optimism among those associated with the Spanish club regarding his potential signing, which could reduce the urgency for larger moves in January — although multiple sources have informed The Athletic that a transfer for the English player from Liverpool next month appears highly unlikely.

Alphonso Davies is another player of interest from Madrid’s perspective. The Canadian left-back’s contract with Bayern Munich expires in June, allowing him to negotiate and sign contracts with potential suitors — including Real Madrid, Barcelona, and Premier League clubs — starting January 1.

Bayern has made significant headway in their efforts to renew his contract and remains optimistic, yet Madrid could still consider an approach. They reached an agreement with Davies’ agency in February regarding the terms if he were to join them in 2024 or 2025 as a free agent, which would include a signing bonus.

Who might they look to sell?

Currently, there is no anticipation of Madrid selling any players.

Dani Ceballos had requested a transfer in the summer, but the club count on the 28-year-old midfielder, and his recent increased involvement suggests he will remain at the Bernabeu through the end of the season.

Players who are not getting as much playtime as they desire — such as younger talents Arda Guler and Endrick — are not considering leaving, and the club is not planning to let them depart on loan or through a permanent sale at this time.

Will anyone be moved out on loan?

No, as mentioned previously.

What previous moves have they made?

None.

Who will make the essential decisions in January?

The four central figures in Madrid’s transfer strategy include president Perez, CEO Sanchez, chief scout Calafat, and director of football Solari, who has emerged more prominently in recent times.

Sanchez and Calafat are predominantly involved in the transaction process. Calafat and his team compile reports on potential targets, with Sanchez only becoming involved when a player is designated as ‘FICHAR’ — the Spanish term for ‘sign’.

Perez always has the final decision on transfers (Dennis Agyeman/Europa Press via Getty Images)

Ultimately, all decisions rest with Perez. Ancelotti occasionally provides input but does not have the final say on transfers.

What is the manager’s primary focus?

Ancelotti believes that his squad requires at least a centre-back and a right-back, as there are rising concerns regarding Madrid’s full-back situation.

Vazquez is stepping in for Carvajal and is highly regarded for his dedication, professionalism, and leadership attributes, but those close to Ancelotti highlight the burden of a potential 81 matches this season if they progress fully in each competition. They find it overwhelming to rely on Vazquez for all those matches.

Furthermore, there are uncertainties surrounding Fran Garcia at left-back, which explains why Ferland Mendy remains ahead of the academy graduate, despite noticeable declines in his performance since the summer. This position remains adequately covered for the time being, yet continues to be a concern.

It’s also important to note that Ancelotti’s preferences are frequently overlooked. He advocated for Harry Kane as a replacement for Karim Benzema in the summer of 2023, but the board did not make a serious attempt to secure him, nor did they successfully sign a centre-back following Militao’s and Alaba’s serious knee injuries in the latter half of that year. This trend continued into the summer when Madrid failed to acquire Leny Yoro and neglected to pursue a viable alternative.

(Top photos: Getty Images)