Liverpool didn’t just dip into the transfer market on Wednesday — they hijacked a deal Newcastle had spent weeks building. The target: Victor Munoz, the 22-year-old Spanish winger who’s been turning heads at Osasuna and, more recently, at the 2026 World Cup in North America.
According to journalist Fabrizio Romano, the Reds triggered Munoz’s €40 million release clause — roughly $44 million — after swooping in during advanced talks between the player and Newcastle. Personal terms have been agreed upon, and Munoz has already completed his medical. He becomes the first signing under new Liverpool manager Andoni Iraola, who took over at Anfield just a few weeks ago.
Munoz’s rise has been rapid. He bagged seven goals and five assists in 36 appearances across all competitions last season, but it’s his style that has scouts buzzing. He completed 2.2 dribbles per game in La Liga last year — the sixth-highest rate in the league — and ranked second among Osasuna players in both total shots and shots on target per game. He’s direct, he cuts inside with intent, and he’s got a reputation for dangerous crossing on the counterattack.
He also scored on his senior debut for Spain in a March friendly against Serbia. He’s currently with La Roja at the World Cup, where he’s expected to see minutes off the bench as part of a deep Spanish attack.
Why Liverpool Made This Move — And What It Means for Newcastle
Newcastle had been in pole position for weeks. The Magpies were deep in negotiations with Osasuna and believed they had a clear path to Munoz’s signature. But Liverpool’s decision to activate the release clause — and Iraola’s personal knowledge of La Liga — flipped the race. Iraola, who coached Rayo Vallecano before taking the Liverpool job, has long admired Munoz’s versatility. The Spaniard can play across any frontline or in midfield, which gives Liverpool tactical flexibility Iraola plans to exploit.
The club has not confirmed whether Munoz’s arrival affects Cody Gakpo’s future, but speculation has followed the Dutch forward all summer. Tottenham Hotspur has been linked with Gakpo, and while Liverpool insists no decision has been made, the signing of another wide attacker creates obvious questions.
Meanwhile, Liverpool’s pursuit of RB Leipzig forward Yan Diomande remains active — the club is reportedly targeting two forwards this window. Munoz is expected to slot into a rotation that already includes Mohamed Salah, Luis Diaz, Darwin Nunez, and Diogo Jota. How Iraola distributes minutes will be one of the early storylines of his tenure.
For Newcastle, this is a sting. The club had identified Munoz as a long-term piece of Eddie Howe’s rebuild. Losing him to a direct Premier League rival in a late hijack will test how quickly the Magpies can pivot to alternative targets.
Munoz’s medical was completed in secret, sources say, and the deal is expected to be officially announced after Spain’s World Cup run ends. Until then, Liverpool fans will have to wait — but the message is clear: Iraola isn’t wasting time reshaping this squad.
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