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Liverpool have beaten Newcastle United to the signing of Osasuna forward Victor Munoz, after triggering his release clause.
The Magpies were said to be in advanced talks for the 22-year-old, who scored seven goals and provided five assists in 36 appearances last season, but Liverpool moved decisively to secure the deal.
The move continues a pattern of competition between the two clubs in the transfer market, following previous battles involving Hugo Ekitike and Alexander Isak.
Interest in Munoz also came from Manchester United and Bayer Leverkusen, but the forward is understood to have chosen Anfield, with the deal accelerating after the appointment of Andoni Iraola.
Munoz is a graduate of Barcelona’s La Masia academy and later joined Real Madrid, where he made two brief substitute appearances in La Liga before moving to Osasuna in July 2025 for €5m. Madrid included a 50% sell-on clause in the deal, along with a matching rights option for the forward.
Although Madrid explored the possibility of bringing him back, concerns about guaranteed playing time under Jose Mourinho ultimately led Munoz to rule out a return.
Newcastle have since turned their attention elsewhere. According to The i Paper, Eddie Howe’s side are now considering moves for Lille forward Matias Fernandez-Pardo and Real Betis winger Abde Ezzalzouli after missing out on Munoz.
The Magpies have already made enquiries for Fernandez-Pardo but face competition from Aston Villa, who are also targeting a left-sided attacker. No deal is believed to be close, with the ongoing World Cup slowing transfer activity across Europe.
Fernandez-Pardo is also reportedly on Liverpool’s shortlist as an alternative to RB Leipzig star Yan Diomande. The 21-year-old impressed for Lille last season, scoring eight goals and registering seven assists in all competitions.
Diomande, meanwhile, recorded 12 goals and eight assists in the Bundesliga. He is also at the World Cup representing the Ivory Coast.
We can reveal that Liverpool are planning a new improved offer of around €115m for Yan Diomande. Leipzig signed the winger from CD Leganes for just €20m last summer, meaning a potential sale would represent a profit of close to €100m for the Bundesliga club.
Liverpool are understood to have received positive feedback from the player’s camp, with the club not expected to make a formal bid without prior encouragement over personal terms.