Real Madrid’s 10 Biggest January Signings Ever

When it comes to the winter transfer window, Real Madrid have signed prolific superstars and massive disappointments, making their January track record bumpy at best.

Los Blancos are never ones to shy away from enticing the biggest and best names in the sport to the Bernabéu. From the Galácticos era and the arrival of Cristiano Ronaldo to Kylian Mbappé’s blockbuster move, the 15-time European champions are behemoths when it comes to the transfer market.

Except so many of the head-turning signings come in the summer, with the club in recent years ignoring the January window all together. When taking a look at Real Madrid’s history of acquiring players mid-season, their newfound reluctance comes as no surprise given the expensive failures overshadowing the few successes.

Here’s a breakdown of the Spanish giants’ 10 biggest January signings of all time.

10. Marcelo (€6.5 Million)

Starting off strong with what is widely considered the club’s best-ever January signing, Marcelo made the move from Fluminense to Real Madrid for just €6.5 million in 2007. The then-18-year-old left behind his home country of Brazil to begin a new life in the Spanish capital, where he became an all-time great.

Marcelo went on to spend 16 years in a white shirt, locking down the left flank with his stout defending and lighting up the final third with his attacking flair and creativity. He won 24 trophies along the way, including five Champions League titles. Only Luka Modrić owns more silverware in club history.

By the time his career at the Bernabéu came to an end, the fullback earned himself a place in the same conversation as fellow countryman and Real Madrid legend, Roberto Carlos.

9. Zé Roberto (€9 Million)

In January 1997, Real Madrid acquired Zé Roberto from Brazilian club Portuguesa for €9 million. The midfielder joined the team amid a tight battle with bitter rivals Barcelona for the Spanish crown, and after only five months in a white shirt, he was suddenly a La Liga champion.

Los Blancos also claimed the Spanish Super Cup in 1996–97. Zé Roberto stuck around with the club despite a lack of regular minutes and saw his playing time increase the next season, especially in the build-up to the team’s seventh Champions League title.

Despite the silverware, Zé Roberto never truly left his mark at Real Madrid. The Brazilian only made 21 appearances before he went on to make his name in Germany for Bayer Leverkusen and Bayern Munich.

8. Gonzalo Higuaín (€12 Million)

One of the more familiar names on this list is Gonzalo Higuaín, who left behind his boyhood club River Plate at age 19 to play for Real Madrid in 2007. The club won his signature for €12 million.

Unlike so many of the club’s other winter signings, Higuaín excelled in a white shirt, establishing his place in the Spanish capital for the next six years. The forward scored 119 goals in 256 appearances for Los Blancos, an impressive feat considering he was in the same squad as Karim Benzema and Ronaldo for the later half of his tenure.

Higuaín helped the club top the league in both his debut season and then his first full season. The back-to-back La Liga titles were soon joined by another in 2011–12, as well as two Spanish Super Cup titles and one Copa del Rey title in his trophy cabinet.

7. Christian Karembeu (€12.5 Million)

Christian Karembeu is the perfect example of a transfer who made an instant impact at Real Madrid. The midfielder joined in the winter of the 1997–98 campaign in a €12.5 million deal from Italian outfit Sampdoria.

Just four months after he made the move to the Spanish capital, Karembeu was hoisting the club’s seventh Champions League title. The 25-year-old scored two goals in Los Blancos’ quarterfinal tie with Bayer Leverkusen before finding the back of the net in the first leg of semifinals against Borussia Dortmund.

The 25-year-old brought consistency, versatility and a tireless work ethic to Los Blancos’ midfield. In fact, Karembeu even featured at center back and fullback in his two-and-a-half year stint in a white shirt. It was no surprise that he eventually helped Real Madrid win their eighth Champions League title in 2000 before he left the club.

6. Lucas Silva (€13 Million)

Lucas Silva arrived to the Bernabéu with lofty expectations. Carlo Ancelotti spoke highly of the midfielder, who left Brazilian club Cruzeiro to join Real Madrid for €13 million in January 2015.

Except the signing was ultimately a failure. Silva only made nine appearances for the team, which came as no real surprise given his competition in the middle of the park was Luka Modrić, Toni Kroos and James Rodríguez.

The Brazilian was only given those initial five months to impress before he was shipped off on various loan spells until Silva and Real Madrid agreed to terminate his contract in Sept. 2019. The club failed to recuperate any of his initial price tag.

5. Brahim Díaz (€17 Million)

Brahim Díaz is the only player still in Real Madrid’s current squad that cracks the top 10. The winger left Manchester City in 2019 to provide some much-needed depth to Los Blancos’ right wing.

The Spanish giants paid €17 million for Brahim, a price that on some days looks like a bargain and on others is seemingly too high. The Morocco international has never quite earned himself a permanent place in the club’s XI, most often losing out to Rodrygo or even Federico Valverde.

Still, Brahim has produced some highlight moments for Los Blancos over the years when called upon, with his equalizer at the Etihad in the 2024–25 Champions League league phase playoff atop the list.

4. Lassana Diarra (€20 Million)

Lassana Diarra is the first player on this list to fetch a €20 million fee. The midfielder left Premier League outfit Portsmouth in 2009 and became one of the few January signings to secure a starting spot at Real Madrid.

He made 117 appearances for Los Blancos, helping the club win three trophies in as many seasons. Diarra brought a much-needed physical presence to the team’s midfield and was key to stopping teams in transition.

The Frenchman eventually saw his role diminish, though, and left in 2012 to join Russian outfit Anzhi Makhachkala.

3. Fernando Gago (€20.5 Million)

After impressing with his clinical form at Boca Juniors, Fernando Gago left his home country Argentina to represent Real Madrid at age 20. The club completed the move in Dec. 2006 for a head-turning €20.5 million fee.

Gago inked a six-and-a-half-year contract with the Spanish giants, a deal that put the pressure on an underperforming and aging David Beckham. Except the young Argentine never truly lived up to this potential, with his time in the Spanish capital marred by injury and inconsistency.

When compared to Higuaín, who joined the club during the same transfer window, Gago fell well short of his hefty price tag. Still, he ended his time in Madrid with four new trophies for his cabinet, more than some of the other failures on this list.

2. Klaas-Jan Huntelaar (€27 Million)

It’s not a great sign for Real Madrid that their second-most expensive January signing is better known for the volley he scored against them while representing Schalke than anything he ever did during his time in a white shirt.

Klaas-Jan Huntelaar bid farewell to Ajax in 2009 to begin a new chapter of his career in Spain, but the striker only bagged eight goals in 20 appearances before he left for AC Milan at the end of the season, just six months after he arrived.

While it wasn’t the worst stint from a player on this list, it was incredibly short-lived and in no way lived up to the fee Los Blancos shelled out. Plus, the imminent arrivals of Benzema and Ronaldo following Huntelaar’s departure made the Dutchman all too forgettable.

1. Reinier Jesús (€30 Million)

Ironically, the most expensive January signing in club history happens to belong to one of its biggest failed transfers of the last decade. Back in 2020, Real Madrid beat out Man City to secure Reinier Jesús’s signature in a €30 million move from Flamengo.

The teenager was heralded as the next Brazilian wonderkid, but he never even made a first team appearance in his five years with the club. In fact, Reinier only ever managed three appearances with Real Madrid Castilla before loan stints at Borussia Dortmund, Girona, Frosinone and Granada.

The midfielder never made much of an impression, though, and he finally left the club in the summer ahead of the 2025–26 season, putting an end to his hopes of one day calling the Bernabéu home.