Real Madrid enter the summer at a crossroads. A trophy-less 2025-26 season, which ended with the club finishing second in LaLiga on 86 points behind Barcelona, prompted the appointment of Jose Mourinho, and the new head coach now faces the task of rebuilding trust and momentum at the Bernabeu.

The most pressing internal concern is Vinicius Junior's contract situation. Negotiations have reportedly hit a stumbling block over financial terms, and the club is treading carefully to avoid upsetting Kylian Mbappe and Jude Bellingham in the process. Losing Vinicius would represent a significant blow to Mourinho's plans before his tenure has even properly begun.

On the transfer front, Michael Olise has emerged as the primary target to reinforce the attack. Claude Makelele has personally urged president Florentino Perez to sign the Bayern Munich winger, while club legends including Ivan Zamorano have publicly backed a move. Olise himself has reportedly requested a meeting with Bayern to discuss his future, with Real Madrid's interest intensifying following his World Cup performances. A deal in the region of 223 million euros has been mooted. Chelsea's Enzo Fernandez also remains linked, though Xabi Alonso has made clear he wants to keep the midfielder at Stamford Bridge.

Aurelien Tchouameni's new contract extension offers some stability in midfield after Manchester United's pursuit was rebuffed. Real Madrid's next competitive outing is a friendly against Fiorentina on August 1, giving Mourinho time to shape his squad before the new season begins.