Real Madrid have already spent more than €100million (£86.5m; $113m) this summer — but their rebuild is only just getting started as they bid to stop the rot of two seasons without a major trophy.President Florentino Perez has put his trust in Jose Mourinho, 13 years after the coach left the Bernabeu, to restore Madrid to the top of La Liga and in Europe.Mourinho, 63, is the coach whom 79-year-old Perez has valued and trusted the most, and his role in this summer’s transfer dealings appear to confirm this.Madrid and Mourinho have been planning the new project since early May, even before Perez unexpectedly called for a presidential election, which he would win.In their first meetings, club and coach agreed on the need to sign a backup to right-back Trent Alexander-Arnold, a left-back to challenge Alvaro Carreras, at least one leading centre-back and a creative midfielder.Mourinho’s plan is to play with a 4-2-3-1 system — and with him having much more say on recruitment than his predecessors Xabi Alonso and Carlo Ancelotti, Madrid quickly made moves.They have positioned themselves to sign Netherlands right-back Denzel Dumfries (paying his €20million release clause to Inter, although this has not been announced), and Spain left-back Marc Cucurella is arriving in a deal with Chelsea worth up to €60m.France centre-back Ibrahima Konate and Portugal midfielder Bernardo Silva have also been signed as free agents after they did not renew their contracts with Liverpool and Manchester City.Taking into account the €15million release clause Madrid paid for Mourinho, and the signing bonuses for Konate and Bernardo, Madrid’s spending stands at more than €100m.The focus is now on another centre-back and midfielder, while adding a striker has not been ruled out. All of this brings repercussions for the existing squad, with several Madrid players now on the market.The Athletic has spoken to multiple sources at Madrid, and those close to their players (all of whom spoke anonymously to protect relationships), to bring you the latest on Mourinho’s rebuild.GoalkeepersA quick and easy one to start with. This is the most stable area, with No 1 Thibaut Courtois, 34, and understudy Andriy Lunin, 27, both expected to stay.Courtois, who signed for Madrid in 2018 and is at the World Cup with Belgium, extended his contract last summer until 2027, although this has not yet been officially announced, while Ukrainian Lunin’s contract runs until 2030.Thibaut Courtois has been Real Madrid’s No 1 since 2018 (Angel Martinez/Getty Images)DefendersHere’s where things begin to get busy. Real Madrid’s defence is already experiencing an overhaul — and there should be more to come.First of all there were the departures — without offers of contract extensions — of long-serving captain Dani Carvajal and the versatile David Alaba, both 34. Dumfries, 30, is set to take Carvajal’s place, theoretically behind Alexander-Arnold, but he is seen as someone capable of providing stiff competition for the 27-year-old Englishman.On the left, the arrival of Cucurella, 27, means there will be a departure. Ferland Mendy, 31, is not in Mourinho’s plans, but the fact he is out with a thigh injury until November makes a move difficult.Carreras, 23, or Fran Garcia, 26, are expected to leave. Carreras’ profile does not convince Mourinho, but those closest to him say he will be going nowhere, given that it has only been a year since his €50million signing from Benfica.Garcia wanted to join Bournemouth in January, but Madrid blocked a potential deal. He is now weighing up his options. The Athletic has reported that Real Betis are among his suitors.Mourinho favours asymmetrical full-backs and he has envisaged the right-back (Alexander-Arnold or Dumfries) having more attacking freedom than the left-back (Cucurella or Carreras).In central defence, Madrid will try to sell Raul Asencio, who renewed his contract until 2031 last year. The 23-year-old academy graduate’s priority is to stay, but his agent, Manuel Diaz, has a close relationship with Mourinho’s agent, Jorge Mendes, who is expected to assist with a transfer.Asencio’s camp’s stance is that the player wants to win over Mourinho, but his departure is considered necessary to make way for another centre-back to arrive.Raul Asencio does not want to leave Real Madrid (Juan Manuel Serrano Arce/Getty Images)Inter’s Alessandro Bastoni, 27, and Borussia Dortmund’s Nico Schlotterbeck, 26, are highly rated. It is unclear to what extent Schlotterbeck’s ankle ligament injury — which has ruled him out of the World Cup with Germany — may affect that interest.A source close to Madrid’s sporting planning told The Athletic that the option of signing Ruben Dias is highly unlikely because Manchester City do not want to sell the 29-year-old.MidfieldersThe club wants Dani Ceballos to leave. As reported by The Athletic, the midfielder wants to do so on a free transfer. Further talks are expected between to find a solution, as the 29-year-old’s contract expires in 2027 and this is the third summer in a row both sides have explored a move.Madrid and Mourinho are open to hearing offers for 23-year-old midfielder Eduardo Camavinga, but those close to the player say it is “impossible” for him to leave.This has led to situation where offers for Aurelien Tchouameni, 26, would be considered. He could be of interest to Manchester United. Federico Valverde, meanwhile, is not on the market (and nor does he want to leave) — despite his dressing-room fight with Tchouameni in May.A departure in midfield is seen as necessary to make room for the creative player Madrid feel they are lacking.Mourinho’s preferred choice is Enzo Fernandez, for whom Chelsea are expected to ask for around £120million. The 25-year-old Argentina international is looking for a new start, and his preferred destination is Madrid.West Ham United’s Mateus Fernandes has also been discussed, but there is competition from Manchester United, Paris Saint-Germain and Tottenham Hotspur for the 21-year-old Portugal midfielder.There are positive reports regarding midfielder Ayyoub Bouaddi. Lille want to keep him as they qualified for next season’s Champions League, but they are aware of the impact of his performances at the World Cup. If they were to sell, they would be asking for around €80million for him. The Morocco international, 18, is not Madrid’s top priority at present. Bouaddi himself is concentrating on the World Cup, and if he were to leave would favour joining a team where he can consistently play a key role.Sources in the Netherlands have told The Athletic that 20-year-old Dutchman Kees Smit, for whom AZ are seeking a fee in the region of €60million, remains an option. The same sources indicate that agent Mendes is handling this matter on behalf of the Dutch club.Chelsea and Argentina’s Enzo Fernandez is a player Jose Mourinho would like to sign (Justin Setterfield/Getty Images)There is the option of Nico Paz, too. In early June, there was an expectation Real Madrid would take up their €9million buyback option for this summer. Mourinho has spoken to the 20-year-old Argentina midfielder, but no formal steps have been taken to trigger the clause, which has a deadline of June 30.Developments are expected this week. Paz has told Como, who have qualified for the Champions League, that he would be happy to stay there for another year if he does not have a prominent role in the Spanish capital. He is under contract at the Serie A club until 2028.Mourinho sees Jude Bellingham as a key player in the No 10 role in a 4-2-3-1 formation and, less frequently, as a box-to-box No 8. The manager spoke to the England international in an initial introduction in which he wished him well for the World Cup. Sources close to the coach say Bellingham is expected to be important to Mourinho.ForwardsIn attack, Kylian Mbappe, Vinicius Junior and Rodrygo — who is out with a knee injury, potentially until next year — are assured of their places.Mourinho has faith in Mbappe, who is having a superb World Cup with four goals in two matches after ending the season to a chorus of boos from the Santiago Bernabeu crowd.Vinicius Jr was also the target of criticism from fans and his situation has been stalled for some time. Madrid and his agents began talks in January 2025 over the renewal of his contract, which expires in 2027, but no agreement has been reached.Madrid had a player on their radar in case Brahim Diaz were to leave, but the Morocco international wants to stay, and Mourinho and the club believe he is a valuable asset.Brahim Diaz, at the World Cup with Morocco, is expected to stay at the Bernabeu (Daniela Porcelli/Sports Press Photo/Getty Images)Madrid were keen to hear loan offers for Franco Mastantuono, signed from River Plate for €63.2million last summer. However, Mourinho is a fan so his departure is now less likely.Mourinho’s arrival may change the fate of Gonzalo Garcia, too. The manager wants to assess the 22-year-old academy graduate during pre-season, which has put the brakes on a possible departure.Meanwhile, Madrid decided months ago that Brazil forward Endrick would stay at the club for next term, following his half-season loan at Lyon over 2025-26.Mourinho is also keen for the club to sign a pure striker in the mould of Joselu, but it is not a priority and would require at least one player to leave.
Real Madrid transfers state of play as Jose Mourinho’s summer rebuild gathers pace
Four high-profile signings have been made but there will be plenty more business - in and out - at the Bernabeu this summer
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