Liverpool are set to sign winger Víctor Muñoz from Osasuna after activating his €40m (£34.5m) release clause.
The 22-year-old, who is part of Spain’s World Cup squad, underwent a medical on Wednesday, with Liverpool reportedly sending staff to the United States to complete the process.
Muñoz, who made his international debut in March, is capable of playing on both flanks and is expected to sign a six-year contract at Anfield. Liverpool will pay the transfer fee in two instalments.
Newcastle United were also in advanced talks to sign the forward, having explored a deal following the sale of Anthony Gordon to Barcelona. However, Liverpool have now won the race for his signature.
Muñoz enjoyed an impressive season with Osasuna, scoring seven goals and providing five assists in 36 appearances.
The Spaniard will become Liverpool’s first signing since Andoni Iraola replaced Arne Slot as head coach earlier this month.
When previously linked with Newcastle, La Liga expert Phil Minshull described Muñoz as “one of the pearls of Spanish football,” praising his high work-rate both in attack and defence.
Muñoz came through Barcelona’s famed La Masia academy before joining Real Madrid, where he made two brief substitute appearances. He later moved to Osasuna in July 2025 for €5m.
Real Madrid retained a 50% sell-on clause and a matching rights option on the player, but ultimately decided against bringing him back due to concerns over regular playing time under José Mourinho.
Barcelona had also shown interest before eventually signing Gordon in a deal worth more than £69m.
