It’s the kind of transfer saga nobody saw coming. Vinícius Júnior, once deemed untouchable at Real Madrid, is now the subject of feverish speculation linking him with a blockbuster move to Liverpool. Rumors from claim the 25-year-old superstar could even be sold if a $165 million offer arrives. Liverpool, flush with ambition in a post-Jürgen Klopp era, are reportedly circling with an eye-watering bid of around $152 million for the Brazilian winger.

But how much substance is there to these reports? And what would drive Real Madrid to consider parting with one of their brightest talents, just as Liverpool look to retool for a new dawn?

In Spain, the initial reports have come from second-tier outlets like Fichajes and Defensa Central, publications known for transfer gossip more than gospel truth. Defensa Central suggested Liverpool’s interest is real and contingent on them offloading a current winger (Luis Díaz), positing a bid of $152 million structured as $110 million plus $42 million in add-ons. Another outlet asserted that Real Madrid’s leadership has set a $165 million asking price and “if someone comes with that amount, there will be no impediments” to Vinícius’s exit.

Such claims, however, have not been echoed by Madrid’s most reputable sources. Top-tier newspapers Marca and AS, usually well-informed on Real Madrid’s dealings, have been quiet on any planned sale. Trusted transfer source Fabrizio Romano has made no mention of a Vinícius move either. Instead, Romano and others have focused on the ongoing renewal talks and Real’s other transfer business. In short, the whispers of a Liverpool swoop are coming from the periphery, not the core, of the football media sphere.

Changing winds at the Bernabéu

Kylian Mbappé’s arrival was meant to form a dream partnership with Vinícius Júnior, but the 2024-25 season saw the Brazilian struggling to adapt.

Xabi Alonso is now leading Real Madrid, guiding the squad through a period of tactical transition. While Vinícius Júnior and Kylian Mbappé were expected to form a dominant attacking duo, their chemistry remains incipient. Vinícius showed flashes of brilliance but also inconsistency, which has opened the door for speculation about his long-term role.

Under Alonso’s new tactical system, Vinícius has faced a period of adjustment. Even his performances in the Club were muted. Alonso, a disciplinarian, has made it clear that performance matters more than reputation.

The Brazilian seems to have lost a spark, his dribbling edge and confidence, while other combinations began to flourish. This has set the stage for Real Madrid’s internal debate.

According to Spanish reports, Real Madrid has privately valued Vinícius at $165 million and will listen to offers. A sale at that price would be the most expensive in Real Madrid’s history. Such cash could be reinvested into reshaping the squad. Saudi clubs are also hovering.

In years past, selling a 25-year-old cornerstone would be heresy, but Real’s hierarchy is determined not to repeat the mistakes of the past.

There is also a contractual chess match unfolding. Vinícius’s current deal runs until June 2027, but an extension has stalled. Reports indicate that Vinícius is seeking around $33 million net per year, a salary that would make him the club’s top earner. Real Madrid have rejected that figure.

Reports suggest the club does not intend to exceed Mbappé’s salary bracket, who earns around $16.5 million net per year plus bonuses. The club won’t break the wage structure. Until a new deal is signed, the club knows the leverage shifts toward the player.

If no extension is signed by 2026, Madrid would face the nightmare scenario of Vinícius entering his final contract year. Selling a year too early may be preferred to losing a star for free.

Sporting concerns linger as well. Mbappé and Vinícius overlap stylistically. The left flank belongs to both. Under Ancelotti, Madrid’s attack was built around Vinícius. Under Alonso, it may be built around Mbappé.

Some question whether the two can truly coexist. With emerging talents in view and the potential for other big arrivals, selling Vinícius while his value is high is not unimaginable.

What Liverpool stands to gain

The fan reaction is mixed. Vinícius is loved at Madrid. He scored in the 2022 Champions League final. He has been a vocal figure against racism in LaLiga. But a season of frustration, a drawn-out contract saga, and shifting dynamics have made him less untouchable. Some fans argue that if a $165 million offer were to come, it should be considered.

On Merseyside, the mood is different. Liverpool have already added Florian Wirtz this summer. Arne Slot, in his first year post-Klopp, led Liverpool to a Premier League title. Now, with momentum and investment, Liverpool are swinging bigger than ever.

Vinícius would be a transformative signing. With Salah aging, Luis Díaz potentially moving, the Brazilian could slot in as the club’s next attacking focal point.

Vinícius brings end product and flair. Last season, he tallied 22 and 13 assists in 58 matches. He’s just 25, already a two-time Champions League winner, a former Ballon d’Or runner-up, and has a style that would ignite Anfield.

Slot’s high-pressing, yet fluid, system would suit him. Liverpool have also tracked other forwards, like Rodrygo and Alexander Isak, but none bring Vinícius’s pedigree and global pull.

Financially, Liverpool could structure the deal through installments. A sale of Luis Díaz would help offset the cost. Liverpool’s wage bill has flexibility, and with Champions League revenues returning, the club may see this as a strategic leap.

Real Madrid, meanwhile, would receive pure profit, given Vinícius’s original fee was amortized long ago. The decision ultimately rests on whether they believe in Vinícius as a foundational piece or view him as a tradeable asset.

The coming weeks will reveal how genuine Liverpool’s interest is, and how resolute Real Madrid remain. For now, the saga sits in limbo, a high-stakes game that could reshape two giants.