The days of the Galácticos may be over, but a new two-tier policy is keeping Los Blancos ahead of the pack for the top talents in Europe and South America
Trent Alexander-Arnold in action for Liverpool against Southampton in Marh 2025 (Picture: Carl Recine/Getty Images)
It is almost four years since Real Madrid president Florentino Pérez outlined plans for a new European Super League and issued a stark warning about the game’s future. Speaking on Spanish sports showEl Chringuito, he said: “It’s a league to save all the clubs. Otherwise, football will die.”
Football has not died and since those words, Real Madrid have not done too badly, either. Los Blancos have gone to add another two La Liga titles and two more Champions League crowns. In total, eight trophies. Surprise? Not really. But the clubhas changed its transfer policy to stay at the forefront of European football.
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Between 2000 and 2013, Madrid broke the world transfer record on five occasions – all with Pérez as president – with the signings of Luís Figo (€62m), Zinédine Zidane (€77.5m), Kaká (€67m, but a record in pounds at £56m), Cristiano Ronaldo (€94m) and Gareth Bale (€100m). “The most expensive players end up being cheap,” Florentino later said, due to success on the pitch and commercial opportunities. Eden Hazard, signed for an initial €100m in 2019, was definitely not “cheap” or a success, with just 76 appearances across four injury-interrupted seasons before retirement in 2023.
That same summer, Madrid spent €103m to sign Jude Bellingham from Borussia Dortmund. But such outlays are now an exception for Real, no longer the rule – and the fee is not among the top 10 transfers. It is nowhere near the €222m Paris Saint-Germain paid for Neymar, nor the €180m PSG shelled out for Kylian Mbappé.
Kylian Mbappé celebrates after scoring a hat-trick for Real Madrid against Manchester City in the Champions League in February 2025 (Picture: Fantasista/Getty Images)
Mbappë is now a Madrid player, of course, but the French forward joined on a free transfer last June. Had it been down to a bidding war, signing the World Cup winner might have been more difficult. In 2021, David Alaba was brought in on a similar deal after his contract at Bayern Munich expired and it now looks like Liverpool’s Trent Alexander-Arnold will follow suit at the end of the current campaign.
Previously known for signingGalácticos on huge fees, Pérez has abandoned that policy in favour of a new two-tier strategy to keep Madrid ahead of the pack in recruiting the world’s finest footballers. One part of that involves identifying players who could move on a free transfer at the end of their contracts, with funds instead going towards wages and a signing-on fee. The other? Get them in early.
Bellingham, although still expensive, would have been worth much more as he approaches his mid-20s. Others, like Vinícius Júnior, Rodrygo and Endrick, were brought in as teenagers for fees of aroud €45m apiece. Not nothing, but nothing like what they would be worth now (or likely in future, in Endrick’s case.)
Vinícius Júnior (right) and Rodrygo celebrate a goal for Real Madrid against Espanyol in September 2024 (Picture: Antonio Villalba/Real Madrid)
Madrid’s chief scout, Juni Calafat, was born in Spain and grew up in Brazil. As well as signing several of Brazil’s best attackers in recent years, Madrid have brought in some of Europe’s top talents in cut-price deals. Midfielder Eduardo Camavinga joined from Rennes for just €31m, while Arda Güler arrived from Fenerbahçe for €20m.
In order to compete with mega-rich projects like Manchester City and PSG, Madrid have had to up their game in the transfer market. Alexander-Arnold is the next part of the puzzle and given the club’s appeal and aura, this new two-tier stratgey looks set to serve them well in the years ahead. And it may mean that, if the right player becomes available in future (Erling Haaland, maybe?), Los Blancos may have the funds available to smash the transfer record once again.
Football by Ben is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber.