Real Madrid Transfer DealSheet: What to expect in the January window

Madrid enter the January transfer window with plenty of questions about their squad depth. But will they make any moves?

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Real Madrid are going into the January transfer window with plenty of questions about their squad strength. Serious knee injuries to Dani Carvajal and Eder Militao have left the team short in defence. Lucas Vazquez has been their only senior right-back since October and Antonio Rudiger their only senior centre-back since November due to a host of injury problems for Carlo Ancelotti’s side.

Ancelotti and his staff, the players and their entourages, the fans and the press all agree reinforcements are needed. But that does not necessarily mean Madrid will make January signings, as they have shown in the past. GO DEEPER Real Madrid's internal tensions: 25 injuries, concerns over running stats and divisive Pintus The Athletic explains what to expect in January, with input from sources who asked to remain anonymous to protect relationships.



.. What positions will they be looking at in January? There is a general consensus within the club about the need for a centre-back and a right-back to be signed in the coming transfer windows.

Since October, chief executive Jose Angel Sanchez, chief scout Juni Calafat, director of football Santiago Solari and Ancelotti have been thinking along the same line. This depends on whether any good options can be found in the always difficult January market and in anticipation of the green light to bring in new players from president Florentino Perez. The prevailing view at the club now is not to make signings, as Carlo Ancelotti and his staff have long feared from talks with the board and information in the media.

The Italian has suggested there could be new arrivals in several press conferences, having previously ruled out that option to publicly side with the club. Advertisement Madrid have historically been wary of making new additions in January — their last first-team signing in that window was Brahim Diaz in 2019. They signed the winger from Manchester City because the deal was a market opportunity, with his City contract set to expire in June of that year.

They still think that it would take too much time for a new player to arrive, adapt, perform immediately and, moreover, not be a mere stopgap and be a financially beneficial move. Which players do they want? There is no standout player who Madrid are targeting in central defence — but a few names have been mentioned behind the scenes. These include Al Nassr’s Aymeric Laporte or 18-year-old Palmeiras centre-back Vitor Reis .

Some even saw Napoli ’s Rafa Marin as an interesting option. The Madrid academy graduate who left the club in the summer for an initial €11million ($11.5m; £9.

1m at current exchange rates), with an option for the Italian club to pay an additional €10m during the 2024-2025 season to confirm their long-term ownership of the player, is not getting much game time in Italy. The club argue the better solution is to keep counting on academy player Raul Asencio , who has made nine appearances since being elevated to the first team as an emergency measure last month, or the returning 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 see him returning to the bench and playing little by little from mid-January.

The management points out how in recent years the results have been very good following their ideas and disregarding opposing views from inside and outside the club. Liverpool ’s Trent Alexander-Arnold is Madrid’s preferred signing at right-back. There is some optimism among those connected to the Spanish club about his arrival, which would lessen the potential for more serious moves in January — although multiple sources have told The Athletic that the Englishman moving from Liverpool next month seems unfeasible.

Advertisement Alphonso Davies is another player worth paying attention to from a Madrid perspective. The Canada left-back finishes his contract with Bayern Munich in June and will be allowed to negotiate and sign a deal with any of his suitors — including Real Madrid, Barcelona , and clubs in the Premier League — from January 1. Bayern have made good progress in their goal of renewing his deal and are optimistic, but Madrid could still make a move.

They reached an understanding with Davies’ agency in February on what the terms would be if he were to sign for them in 2024 or 2025, as a free agent with a signing-on bonus. GO DEEPER Bayern renewal? Real Madrid? Premier League? What we're hearing on Alphonso Davies Who will they be looking to sell? There is no expectation Madrid will sell anyone. Dani Ceballos asked to leave in the summer but the club are counting on the 28-year-old midfielder and his increased involvement in recent weeks means he will continue at the Bernabeu until the end of the season.

Players who are not featuring as much as they would like — such as youngsters Arda Guler and Endrick — are not thinking of leaving and the club are not planning on letting them leave on loan or permanently at this point. Will anyone move out on loan? No, as explained above. What moves have they made already? None.

Who will make the key decisions in January? The four key figures in Madrid’s transfer policy are president Perez, CEO Sanchez, chief scout Calafat and director of football Solari, who has gained prominence recently. Sanchez and Calafat are most closely involved in the process. Calafat and his team produce reports on potential targets and Sanchez only gets involved when one is labelled ‘FICHAR’ — the Spanish word for ‘sign’.

The final say always comes down to Perez, however. Ancelotti is sometimes consulted but does not dictate decision-making. What is the manager’s priority? Ancelotti believes his team need at least a centre-back and a right-back, with growing concern about Madrid’s full-backs.

Vazquez is filling in for Carvajal and is highly valued for his commitment, professionalism and leadership, but voices close to Ancelotti point out the potential for 81 matches this season if they go all the way in every competition. They see it as too demanding to count on Vazquez for all of those games. Advertisement There are also doubts about Fran Garcia at left-back, which is why Ferland Mendy remains ahead of the academy product, despite his performances having noticeably dropped since the summer.

It is a position which is covered for now but remains a cause for concern. Even so, it is worth remembering Ancelotti’s wishes are rarely taken into consideration. He asked for Harry Kane to replace Karim Benzema in the summer of 2023 and the board did not make a serious move for him, while no centre-back arrived after serious knee injuries suffered by Militao and Alaba in the second half of that year.

That continued into the summer, when Madrid failed to sign Leny Yoro and no serious attempt was made to find an alternative. (Top photos: Getty Images).