Real Madrid's pre-season is being shaped as much in the transfer market as on the pitch, with Jose Mourinho's squad facing significant movement in both directions before the new LaLiga campaign begins.

The most pressing development is the club's pursuit of RB Leipzig midfielder Yan Diomande. According to reports, Real Madrid used speculation around Bayern Munich's Michael Olise as a smokescreen to advance talks over a deal worth up to €120 million for the Ivory Coast international, who impressed at the 2026 World Cup. That move places Diomande at the centre of one of the summer's busiest transfer sagas, with Arsenal, Liverpool, and Manchester City all reportedly willing to match similar offers.

While Real Madrid push to bring players in, questions remain over who stays. Vinicius Junior's contract stand-off has drawn serious attention from Arsenal, who are monitoring the situation as his future at the Bernabeu remains unresolved. Aurelien Tchouameni is also attracting firm interest from Manchester United, and the club appears to have softened its stance on a potential £68 million sale. Eduardo Camavinga, by contrast, is resisting a move to Old Trafford, with the appeal of working under Mourinho keeping him committed to Madrid.

On the leadership front, former France midfielder Emmanuel Petit has urged Mourinho to build around Jude Bellingham and Kylian Mbappe as genuine on-pitch leaders, channelling the anger both players carried out of the World Cup. With a friendly against Leganes scheduled for July 28, the squad's shape this summer will matter well beyond pre-season.