Mikel Merino has emerged as an unlikely transfer target for Real Madrid, according to a report by Spanish outlet Fichajes, with the Arsenal midfielder's recent run of form drawing attention from Los Blancos as they look to strengthen their squad under manager Jose Mourinho.
Mourinho's Madrid struggling to find their best form
Real Madrid have endured a difficult start to the season under the returning Mourinho, falling behind in La Liga and still searching for a system that can unlock the full potential of Kylian Mbappe and Vinicius Jr in attack, with Jude Bellingham and Yan Diomande operating in deeper roles behind them.
Against that backdrop, Merino's versatility and eye for goal have reportedly caught Madrid's eye as Mourinho seeks fresh options to revitalise his side.
A midfielder who can do it all
Arsenal brought Merino to the club primarily as midfield cover for Martin Odegaard and Declan Rice. However, an injury crisis in February 2025 that ruled out both Gabriel Jesus and Kai Havertz gave the Basque midfielder a chance to operate further forward, and he took it — scoring twice away at Leicester City.
The goals kept coming. Merino netted against Real Madrid in the UEFA Champions League, contributed five goals and assists while filling in during an injury to Viktor Gyokeres last season, and then shone at the World Cup — scoring twice in brief appearances off the bench in the knockout rounds as Spain lifted the trophy.
Most recently, Merino produced another four goals and assists during the international break with Spain, a run of form that Fichajes say has placed him firmly on Madrid's radar for future transfer windows.
How Merino fits Mourinho's thinking
The Fichajes report highlights a lack of consistent playing time at Arsenal as a key factor in Madrid's interest. The outlet notes that Mourinho would be acquiring a player capable of operating as an attacking midfielder or central midfielder, with the physical presence and ability to arrive late into the box from deep positions.
Although Merino is predominantly a midfielder — and even featured as a centre-back under Thomas Tuchel at Borussia Dortmund earlier in his career — his return of 13 goals in his last 24 internationals suggests his profile has evolved considerably. The 30-year-old has become a reliable option for Mikel Arteta when Arsenal play direct, offering the kind of physical presence and link-up play normally associated with Havertz.
Gyokeres remains a rival for attacking minutes at the club, and Arteta has generally preferred the Swedish striker when both players have been fully fit. With Havertz potentially sidelined for Arsenal's next league fixture, Merino could find himself with an opportunity to push his case at the Emirates — though Transfermarkt currently values him at just €25 million, a fee unlikely to test Real Madrid's budget. Arsenal host Leeds United this weekend when the Premier League resumes following the international break.
