Liverpool just pulled off the transfer window equivalent of swiping right on someone else’s date. The club activated the €40 million release clause for CA Osasuna’s Spanish winger Victor Munoz, completing a deal that Newcastle United had spent weeks carefully assembling.

The 22-year-old is set to sign a long-term contract reportedly running through at least 2032, giving Liverpool a promising attacking weapon for the better part of a decade. Newcastle, who had been considered the frontrunner with an offer estimated at around €30 million plus add-ons, were left watching from the sidelines as Liverpool swooped in with the full release clause figure on June 17.

How Liverpool outmaneuvered Newcastle

Liverpool went straight to the player, agreed personal terms, and then triggered the clause. No haggling, no counteroffers, no room for Osasuna to redirect the conversation. Just a clean €40 million payment that made the entire negotiation process irrelevant.

Journalist Fabrizio Romano confirmed that Liverpool secured personal terms with Munoz, suggesting the player himself preferred the move to Anfield.

Who is Victor Munoz?

Munoz came through Real Madrid’s famous La Fabrica youth academy before making his way to Osasuna, where he developed into one of La Liga’s more exciting wide attackers. At 22, he sits in the sweet spot of the transfer market: young enough to have significant development ahead, old enough to have proven himself in a top-five European league.

One wrinkle worth noting: Real Madrid reportedly retains a stake in Munoz’s future. That could take the form of a buy-back clause, a sell-on percentage, or some combination of both. It’s a common arrangement when Spanish clubs sell academy products, and it means Madrid could theoretically reclaim Munoz down the line.

What this means for Liverpool and Newcastle

The €40 million price tag, while substantial, looks reasonable by current Premier League standards for a player of Munoz’s age and profile.

For Newcastle, this is a genuine setback. The club had clearly identified Munoz as a priority target, invested time and resources into negotiations, and came away with nothing. Newcastle had been seeking a replacement for outgoing winger Anthony Gordon, and will now need to pivot to alternative options. Liverpool’s dramatic late entry was driven by sporting director Richard Hughes and executive Michael Edwards.