Liverpool have once again beaten Newcastle United to a summer transfer target, securing the signature of Osasuna winger Víctor Muñoz for a fee of £34 million — his release clause triggered in what looks set to be the first major move of the Andoni Iraola era at Anfield.

Transfer expert Fabrizio Romano broke the news, confirming that Liverpool entered negotiations late, struck a verbal agreement with the player, and activated the €40 million release clause, leaving Newcastle — who had been in advanced discussions for days — empty-handed.

The development follows a familiar pattern for the two clubs. Liverpool pulled off a similar move last summer when they snatched Hugo Ekitike from under Newcastle's noses, and now Muñoz becomes the second high-profile target the Reds have plucked away from St James' Park in consecutive windows.

Who is Víctor Muñoz?

Muñoz, 22, established himself as one of La Liga's more intriguing attackers last season, making 31 starts for Osasuna and contributing six goals. His game is built on tenacity rather than flair: he averaged more than two dribbles per game at a completion rate above 40 percent, and won nearly nine duels per match.

He is not a player who dominates any single statistical category, but his willingness to press, win the ball back, and operate in tight spaces makes him an attractive profile for a side rebuilding its attack. Creativity remains an area where he can grow — few young attackers excel at both scoring and creating — but the raw ingredients are present.

In the short term, Muñoz is expected to provide serious competition on the left flank, where Cody Gakpo endured a difficult 2025/26 campaign. Should Gakpo's form fail to recover, Muñoz could quickly move from squad option to starter.

Bigger picture at Anfield

Liverpool's business this window carries additional weight given the scale of the rebuild Iraola faces. Arne Slot's tenure ended after a troubled 2025/26 season, and the club also lost Mohamed Salah — widely regarded as the finest player in their modern history — at the end of that campaign, leaving a significant void across the forward line.

The Reds are understood to be active on multiple fronts, with reports placing them in contention for Yan Diomande, among others. Muñoz's medical was completed in the United States, a detail that underlines the speed of the pursuit orchestrated by sporting director Richard Hughes and chief executive Michael Edwards.

Transfer expert David Ornstein has independently corroborated the deal, adding further weight to what represents a swift and decisive piece of business from a club in transition.