Newcastle United have submitted a formal offer for Osasuna winger Víctor Muñoz, with the proposed deal set to comfortably surpass the Spanish club's all-time transfer record, according to transfer expert Fabrizio Romano.

The Magpies are understood to have formalised their interest in the 22-year-old attacker, who has emerged as a priority target in the wake of Anthony Gordon's departure earlier this summer. Negotiations are said to be ongoing at both the club and player level as all parties work toward a final agreement.

A record-breaking bid with a Real Madrid twist

The proposed fee sits in the range of €30–35 million (£26–30m) plus add-ons — a figure that would dwarf Osasuna's previous record sale. That benchmark has stood for nearly 20 years, when Raul Garcia moved to Atletico Madrid for €13 million (£8.5m) back in 2007.

However, the deal carries a significant financial complication. When Real Madrid sold Muñoz to Osasuna in July 2025 for €5 million, the LaLiga giants reportedly retained a 50 percent sell-on clause. That means Real Madrid are entitled to half of whatever Newcastle ultimately pay for the winger — a windfall for the Spanish capital club and a factor likely to inflate the overall fee Osasuna seek.

Who is Víctor Muñoz?

Born in Barcelona, Muñoz came through the renowned La Masia academy before making a controversial move to Real Madrid's youth setup in 2021. He went on to excel for Real Madrid Castilla, their reserve side, before earning a permanent transfer to Osasuna.

Capable of operating on either flank or as an advanced forward, Muñoz is known above all for his pace and direct running. Last season he contributed seven goals and five assists across 36 appearances for a struggling Osasuna, establishing himself as one of their most influential players.

His form was rewarded at international level when he received a senior debut for Spain in early 2026, marking the occasion with a goal in a 3-0 friendly win over Serbia.