Real Madrid are navigating a busy summer window with Florentino Perez targeting a record-breaking move for Bayern Munich winger Michael Olise as his primary objective. The club is proceeding carefully to avoid damaging relations with Bayern, and while reports of a €200 million-plus bid circulate, former Bayern captain Lothar Matthaus has dismissed the speculation, insisting Olise will stay in Germany. An advisor to the France international has also urged him to spend another year at Bayern before considering a move to the Bernabeu, meaning this pursuit remains unresolved.

On the outgoing front, Real Madrid face pressure to hold their squad together. Manchester United have made a fresh approach for Aurelien Tchouameni, but Eduardo Camavinga appears committed to staying in Madrid, with reports suggesting the lure of working under Jose Mourinho has cooled his interest in a Premier League switch. Real Madrid also publicly denied approaching Manchester City for Rodri, with the club reportedly fuming over claims of a pre-agreement, insisting his profile does not fit Mourinho's system.

With LaLiga yet to begin, the standings show zero points played across the division. Real Madrid's last competitive outing was a 4-2 home win over Athletic Bilbao in May, and a pre-season friendly against Leganes is scheduled for July 28. The transfer activity suggests Mourinho is shaping his squad with intent, but the window's biggest moves remain unfinished business.