Real Madrid are deep into a summer of significant squad reshaping, with Jose Mourinho's influence already being felt across both inbound and outbound transfer activity. The clearest sign of that came this week as reports confirmed Mourinho has taken a firm stance against selling Vinicius Junior, effectively blocking Arsenal's push to sign the Brazilian. The Premier League champions had been monitoring a contract stand-off at the Bernabeu, with Florentino Perez reportedly setting a nine-figure asking price as a deterrent. Mourinho's position makes a sale this summer look increasingly unlikely, regardless of the fee on the table.

On the recruitment side, Madrid appear to have been running a deliberate smokescreen. While speculation around Bayern Munich's Michael Olise dominated headlines, the club had already opened talks with RB Leipzig over a deal worth up to €120 million for Ivory Coast winger Yan Diomande. The 2026 World Cup standout has attracted interest from Arsenal, Liverpool, and Manchester City, but Madrid moved quietly and with purpose. A separate bid for Manchester City midfielder Rodri was publicly denied by the club, who stated his profile does not fit Mourinho's tactical requirements.

Midfield outgoings are also taking shape. Madrid have softened their stance on Aurelien Tchouameni, with Manchester United reportedly in position to agree a £68 million deal. Eduardo Camavinga, by contrast, appears committed to staying, having reportedly rejected United's advances to remain under Mourinho. With a friendly against Leganes on July 28 offering an early pre-season reference point, the squad Mourinho actually has available is still being defined.