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Real Madrid have financed their summer transfer activity without making a net investment, using income generated from the transfers of former academy players.
The club's spending this summer, including the signings of Marc Cucurella, Denzel Dumfries and the return of José Mourinho, has reportedly been fully covered by revenue from player sales and sell-on clauses. Ibrahima Konaté and Bernardo Silva also arrived on free transfers.
According to the report, Real Madrid have generated up to €108 million from players who did not feature for the first team during the 2025-26 season. Much of that income has come from academy graduates who established themselves elsewhere before being transferred.
Nico Paz has been sold to Como for €60 million, becoming the second-most expensive academy graduate in the club's history after Álvaro Morata, while Real Madrid retained a buy-back clause. Víctor Muñoz's €40 million move to Liverpool also benefited the club, which reportedly received half of the transfer fee.
Additional income has come from the transfers of Mario Gila to Milan and Álvaro Rodríguez to Bournemouth, with each deal generating around €15 million for Real Madrid. The club also received €3.5 million from the sale of Mario Martín.
The total could increase further before the transfer window closes. Benfica continue to pursue Sergio Arribas, and if the forward leaves Almería, Real Madrid are expected to receive another €12.5 million through their sell-on agreement.
The club's strategy has allowed it to strengthen the squad while continuing to benefit financially from the success of its academy graduates across Europe.
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| LA LIGA | CHAMPIONS LEAGUE | |||
| POS | TEAM | M | +/- | P |
| 1 | Barcelona | 38 | 59 | 94 |
| 2 | Real Madrid | 38 | 42 | 86 |
| 3 | Villarreal | 38 | 26 | 72 |
| 4 | Atletico Madrid | 38 | 18 | 69 |
| 5 | Real Betis | 38 | 11 | 60 |
| 6 | Celta Vigo | 38 | 5 | 54 |
| 7 | Getafe | 38 | -6 | 51 |
| 8 | Rayo Vallecano | 38 | -3 | 50 |
| 9 | Valencia | 38 | -9 | 49 |
| 10 | Real Sociedad | 38 | -2 | 46 |
| 11 | Espanyol | 38 | -12 | 46 |
| 12 | Athletic Club | 38 | -15 | 45 |
| 13 | Sevilla | 38 | -14 | 43 |
| 14 | Alaves | 38 | -12 | 43 |
| 15 | Elche | 38 | -8 | 43 |
| 16 | Levante | 38 | -14 | 42 |
| 17 | Osasuna | 38 | -6 | 42 |
| 18 | Mallorca | 38 | -10 | 42 |
| 19 | Girona | 38 | -16 | 41 |
| 20 | Oviedo | 38 | -34 | 29 |
| POS | TEAM | M | +/- | P |
| 1 | Arsenal | 8 | 19 | 24 |
| 2 | Bayern München | 8 | 14 | 21 |
| 3 | Liverpool | 8 | 12 | 18 |
| 4 | Tottenham | 8 | 10 | 17 |
| 5 | Barcelona | 8 | 8 | 16 |
| 6 | Chelsea | 8 | 7 | 16 |
| 7 | Sporting CP | 8 | 6 | 16 |
| 8 | Manchester City | 8 | 6 | 16 |
| 9 | Real Madrid | 8 | 9 | 15 |
| 10 | Inter | 8 | 8 | 15 |
| 11 | Paris Saint Germain | 8 | 10 | 14 |
| 12 | Newcastle | 8 | 10 | 14 |
| 13 | Juventus | 8 | 4 | 13 |
| 14 | Atletico Madrid | 8 | 2 | 13 |
| 15 | Atalanta | 8 | 0 | 13 |
| 16 | Bayer Leverkusen | 8 | -1 | 12 |
| 17 | Borussia Dortmund | 8 | 2 | 11 |
| 18 | Olympiakos Piraeus | 8 | -4 | 11 |
| 19 | Club Brugge KV | 8 | -2 | 10 |
| 20 | Galatasaray | 8 | -2 | 10 |
| 21 | Monaco | 8 | -6 | 10 |
| 22 | Qarabag | 8 | -8 | 10 |
| 23 | Bodo/Glimt | 8 | -1 | 9 |
| 24 | Benfica | 8 | -2 | 9 |
| 25 | Marseille | 8 | -3 | 9 |
| 26 | Pafos | 8 | -3 | 9 |
| 27 | Union St. Gilloise | 8 | -9 | 9 |
| 28 | PSV Eindhoven | 8 | 0 | 8 |
| 29 | Athletic Club | 8 | -5 | 8 |
| 30 | Napoli | 8 | -6 | 8 |
| 31 | FC Copenhagen | 8 | -9 | 8 |
| 32 | Ajax | 8 | -13 | 6 |
| 33 | Eintracht Frankfurt | 8 | -11 | 4 |
| 34 | Slavia Praha | 8 | -14 | 3 |
| 35 | Villarreal | 8 | -13 | 1 |
| 36 | Kairat Almaty | 8 | -15 | 1 |
| LA LIGA | CHAMPIONS LEAGUE | |
| Kylian Mbappé | 25 Goals | Real Madrid |
| V. Muriqi | 23 Goals | Mallorca |
| A. Budimir | 17 Goals | Osasuna |
| Ferran Torres | 16 Goals | Barcelona |
| Lamine Yamal | 16 Goals | Barcelona |
| Kylian Mbappé | 15 Goals | Real Madrid |
| H. Kane | 14 Goals | Bayern München |
| K. Kvaratskhelia | 10 Goals | Paris Saint Germain |
| J. Álvarez | 10 Goals | Atletico Madrid |
| A. Gordon | 10 Goals | Newcastle |
