How Much Real Madrid Should Bank On Another Galáctico Signing

The current era of Madrid galácticos has a distinct feel.

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With each golden moment—his arms rising in celebration to resemble Brazil’s iconic Christ the Redeemer statue—it’s become clear that Jude Bellingham is more than world soccer’s best young player. He is Real Madrid’s next galáctico.

Attracting the most sought-after individuals has long been closely associated with Real, namely foreign and highly-priced professionals befitting the label. It’s been a feature, almost a sense of entitlement, during club president Florentino Pérez’s two tenures, first apparent in his first between 2000 and 2006. That’s despite the reputation for legends going way back.

Alfredo di Stéfano, Ferenc Puskas and Paco Gento were among the pioneers. Then, Luís Figo, Zinedine Zidane, Roberto Carlos, David Beckham and Gareth Bale, to name a few, popularized the tag. Vinícius Júnior and Golden Boy winner Bellingham are now the main headliners at the Estadio Santiago Bernabéu—scheduled to be fully renovated by the spring.

And yet, Los Blancos seem to have reached a crossroads on the galáctico trail. Ongoing speculation over a Kylian Mbappé or Erling Haaland-like figure rocking up has amounted to nothing so far. The obvious question is whether the side will finally welcome such a proven gem in 2024. Secondary to that is how much Real needs another blockbuster player in the first place.

Just when you think Paris Saint-Germain’s Kylian Mbappé’s future is clear, the narrative takes … [+] another turn, usually back to the French capital.

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According to Diario AS, Real is ready (Spanish) to invest heavily in a new superstar. Based on the club’s accounts, the report suggests a €128 million ($140 million) sum available in the club’s treasury, not to mention €265 million ($289 million) in credit—financing approved should the board need it. On the player side, these figures allow for high salaries over the coming seasons. And nine-figure offers are indeed the going rate for capturing the best of the best stars around.

The money pot has supposedly resulted from some cost-cutting measures, with the squad’s wage bill reduced significantly this year. The stadium revamp, set to bring more revenue in the long term, is also a factor when loosening the purse strings. La Liga limits how much teams can spend each season depending on their financial situations, and Real boasts a better hand than its competitors.

Were Real to bank on Mbappé, let’s say, it would be a slight deviation from the high-profile names recruited over previous seasons. Having won a World Cup and multiple titles in France, Mbappé is unquestionably a galáctico. Whereas, players such as Vinícius, Eduardo Camavinga, Federico Valverde, Aurélien Tchouaméni—and perhaps Bellingham—entered the picture having not hit the same heights.

Interestingly, those five mentioned are now over, or close to, €100 million ($109 million) each in market value, according to valuation tools CIES, Football Benchmark and Transfermarkt. Pérez’s current vision is as much about developing galácticos as taking them ready-made. Regarding quality, it’s not desperate—although there is still room for a prolific striker, with midfielder Bellingham the top scorer, 33-year-old Joselu the only typical forward and no number nine since Karim Benzema left.

Valverde has enjoyed a successful international break with Uruguay.

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Then, there is La Fábrica. For all the quality in Real’s youth ranks, it’s rare for the youngsters to cement a place in the senior lineup, so the academy is a profit-making exercise if little else. That said, there has been a pathway for Fran García and Nico Paz this season. And, especially with a leader like Xabi Alonso potentially taking over from coach Carlo Ancelotti in the future, there will always be options coming through. If Real can buy better in the market, it will. But that doesn’t mean it has to.

What happens this season could force its hand. It’s too early to say league frontrunner Girona will pose a threat to Real or that Barcelona will retain the trophy. Real has Bellingham back, yet is suffering a selection crisis after Vinícius became the latest player sidelined after the international break. Approaching six games before Christmas, it must find a way to keep pace.

Madridistas will expect a reaction if Ancelotti’s men miss out on two consecutive La Liga titles. Only then will a glitzy addition, in his peak years, prove a fully necessary ploy, never mind the dollars required.

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