Liverpool have completed the high-profile signing of Victor Munoz from Osasuna, with the 22-year-old Spanish winger officially becoming Andoni Iraola’s first signing as the Reds’ head coach.
Liverpool triggered the €40m (£33.7m) release clause in the winger’s Osasuna contract, paving the way for a long-term six-year deal at Anfield that keeps him tied to the club until 2032.
The swiftness of the operation has caught many by surprise, as developments came incredibly quickly this week.
Liverpool sporting director Richard Hughes stole in at the 11th hour to wrap up the transfer, navigating complex contract talks effortlessly to seal the deal.
The transfer has left Newcastle United completely stunned once again, following on from a similar situation last summer when Liverpool pipped the Geordies to the signing of French striker Hugo Ekitike.
Eddie Howe’s side thought they had a deal fully finalized for Munoz, who had been identified as their absolute first choice to replace Anthony Gordon on the left side of their attack.
Newcastle had spent months scouting the Spanish market, laying the groundwork with Osasuna and Munoz’s representatives.
The North East side were widely expected to capitalise on their lengthy negotiation process, only for Liverpool to pull off an absolute transfer masterclass by meeting the valuation upfront.
The Toon hierarchy are now thoroughly frustrated having missed out on Munoz, and early reports indicate they plan to raid Liverpool for a replacement as a direct revenge mission.
A detailed report in Caught Offside is now claiming that Dutch international Cody Gakpo is high on the Magpies’ list as a Munoz alternative.
The Dutchman, 27, has seen his long-term future at Anfield come into question over recent weeks following the dismissal of Arne Slot as head coach.
The change in the managerial hotseat has shifted the tactical landscape at the AXA Training Centre, creating immense uncertainty among several senior squad members.
Without the absolute guarantees of regular first-team football, Gakpo is reportedly considering his career options ahead of the upcoming Premier League campaign.
The arrival of teenage prodigy Rio Ngumoha into the senior setup alongside the €40m acquisition of Munoz creates intense competition for places on the left flank.
Facing limited playing time, the £250,000-per-week Gakpo could be forced to look elsewhere to protect his international status with the Netherlands national team.
Tottenham Hotspur and Atletico Madrid are among the prominent European teams reported to have expressed a concrete interest in Gakpo’s availability this summer.
However, Newcastle United have now firmly placed Gakpo on their transfer wishlist alongside two elite Arsenal forwards, Leandro Trossard and Gabriel Martinelli.
Newcastle’s recruitment team are desperate to secure a marquee signing on the wing to appease an increasingly restless fan base at St James’ Park.
Despite their financial muscle, the Magpies are working under strict Profit and Sustainability Rules (PSR) constraints, forcing them to balance huge transfer fees against long-term wage commitments.
“They’ve asked Arsenal about Trossard and Martinelli. They also like Cody Gakpo, but the current feeling seems to be that Martinelli could be cheaper,” the Caught Offside report reads.
“Nothing’s advanced yet, and Newcastle won’t rush this. They weren’t entirely convinced about meeting Munoz’s release clause, and they’re prepared to wait to find a deal they’re fully convinced strengthens their squad whilst still representing good value for money.”
This strategic patience highlights Newcastle’s determination to avoid overpaying after missing out on their primary target, even if it means dragging out negotiations into late August.
Gakpo sealed a massive contract extension last year, meaning Liverpool sporting director Richard Hughes remains in total control over the former PSV Eindhoven captain’s transfer destiny.
The lucrative extension ensures that Liverpool are under no immediate financial pressure to sell the versatile forward, who can play across any position in the front three.
The Anfield club will have absolutely no plans to let him go cheaply, and an internal price tag of around £70m has been discussed among senior decision-makers.
This hefty valuation serves as a significant deterrent to domestic rivals but reflects Gakpo’s proven pedigree in both the Premier League and international tournaments.
A high-profile move could ultimately prove highly favourable for Liverpool now that they have got both Victor Munoz and Rio Ngumoha in place as reliable left-wing options.
Offloading Gakpo’s substantial wages would free up significant room on the club’s payroll while generating massive pure profit for future transfer windows.
Any money received for Gakpo can be directly reinvested towards improving the squad in other priority areas specified by Andoni Iraola.
The new head coach is reportedly keen on securing top-tier reinforcements for the right-wing position, a dynamic developmental right-back to compete with the existing options, and a physical box-to-box central midfielder.
The relationship between Liverpool and Newcastle United has become increasingly tense over recent transfer windows, fueled by competing ambitions for Champions League qualification.
Newcastle view Liverpool’s late interventions in the market as a direct challenge to their long-term growth strategy under their current ownership group.
The Ekitike saga from last summer still rankles senior officials at St James’ Park, who felt they had worked hard to secure the player before Liverpool’s decisive financial package changed the player’s mind.
Losing Munoz in identical circumstances has only intensified the desire within the Newcastle boardroom to strike back directly by targeting one of Liverpool’s established stars.
Whether Newcastle can successfully convince Gakpo to make the switch to Tyneside remains to be seen, especially given the player’s current salary requirements and Liverpool’s rigid £70m asking price.
For Gakpo, a move to Newcastle would offer the guarantee of becoming the focal point of an ambitious attacking project, an assurance he no longer possesses under Iraola at Anfield.
However, the allure of London via Tottenham or a continental adventure with Atletico Madrid under Diego Simeone could complicate Newcastle’s revenge plans.
As the summer transfer window begins to heat up, this developing narrative promises to dominate headlines across the Premier League.
