Real Madrid’s 2026 January Transfer Wishlist

It’s a familiar story for the 15-time Champions League winners in terms of where they need to strengthen.

Real Madrid rarely spend money in January but they could be tempted this season. / Visionhaus/Getty Images, Victor Metelskiy/Getty Images, Ulrik Pedersen/NurPhoto/Getty Images, Giuseppe Maffia/NurPhoto/Getty Images

If Real Madrid want to make a real push for winning La Liga or the Champions League, then they could be tempted to bolster their squad in January.

After finishing 2024–25 without a major trophy, Los Blancos brought Trent Alexander-Arnold, Dean Huijsen, Álvaro Carreras and Franco Mastantuono to the Bernabéu last summer. Yet Xabi Alonso’s men trail Barcelona by four points at the top of La Liga and have suffered Champions League defeats to Liverpool and Manchester City.

Injury woes and lifeless performances have exposed two major areas of concern for Real Madrid. The 15-time European champions have previously shown little interest in signing players during the winter transfer window, but pressure is mounting throughout the Spanish capital for reinforcements that could get the club back to championship winning glory.

Here are the areas Los Blancos could strengthen in January, as well as their possible transfer targets.

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Additional Center Back

Éder Militão (center) is out for nearly the remainder of the season. / Denis Doyle/Getty Images

Real Madrid find themselves in an eerily similar position as last January—in desperate need of a center back. Éder Militão ruptured the biceps femoris tendon in his left leg back on Dec. 7 and is expected to be out until April.

David Alaba, meanwhile, is in and out of the treatment room, never fit for longer than a few weeks before another injury sends him back to the sidelines. The Austrian has logged just 145 minutes under Alonso.

Antonio Rüdiger shares similar fitness struggles. The 32-year-old missed over two months at the start of 2025–26 due to a hamstring injury, which came three months after he recovered from knee surgery.

Los Blancos, then, are left with just Huijsen and Raúl Asencio at center back. The ideal scenario for Alonso would be to have added depth to avoid deploying emergency options Aurélien Tchouaméni and Carreras.

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Key Targets

Real Madrid are one of several European giants eyeing Marc Guéhi. / Sebastian Frej/Getty Images

At the start of the season, Liverpool center back Ibrahima Konaté was the favorite to follow in the footsteps of Alexander-Arnold, trading in his red shirt for a white one. Yet Real have reportedly pulled out of the race for the Frenchman’s signature amid his concerning decline in form.

The club instead is keeping a close eye on another Premier League talent in Marc Guéhi. The Crystal Palace defender’s composure, versatility and athleticism is a perfect fit for a Real Madrid team expected to part ways with both Rüdiger and Alaba at the end of the season.

If the Spanish giants want Guéhi in January, or Bayern Munich’s Dayot Upamecano, they would have to splash some cash, something the club has actively avoided as of late. The more realistic acquisition of either center back would come in the summer, when they are both free agents.

A cheaper, more immediate option is Sporting CP standout Ousmane Diomande. From his blistering pace and aggressive play style to his dominance in the air, the 22-year-old comes with a dynamic, physical skillset that would compensate for Huijsen’s shortcomings. The best part? The Ivory Coast international is thought to only have a €25 million ($29.3 million) price tag.

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Deep-Lying Playmaker

Luka Modrić (left) and Toni Kroos left two holes in Real Madrid’s midfield. / Michael Regan/UEFA/Getty Images

Real Madrid lost Toni Kroos and Luka Modrić in back-to-back seasons and have yet to replace either player. In fact, the club has not signed a first-team midfielder since Arda Güler and Jude Bellingham made the move to the Spanish capital in 2023.

Despite Alonso’s best efforts, Türkiye international Guler does not excel in a deeper role and is no more Kroos’s successor than Bellingham. For all their defensive gifts, Tchouaméni and Eduardo Camavinga are also by no means midfield maestros.

Los Blancos have no one capable of controlling a game from the middle of the park. No one who dictates play, makes line-breaking passes or creates chances from deep midfield. Behind finding a solution to their defensive woes, the club’s next priority is finally signing a deep-lying playmaker.

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Key Targets

Nico Paz has several clubs clamoring for his signature. / Marco Luzzani/Getty Images

At the start of the summer, Manchester City star Rodri was a dream transfer for Real Madrid. The 2024 Ballon d’Or winner possesses the vision, defensive skillset and intelligence Alonso’s midfield is crying out for.

Except the Spaniard’s recent injury woes knocked him down the list of targets for Los Blancos, leaving Crystal Palace’s Adam Wharton as a leading candidate. The England international’s tempo-setting rhythm and progressive passing would transform the Spanish giants’ floundering midfield, but his expected fee of £100 million ($134.7 million) is a large deterrent.

Stuttgart midfielder Angelo Stiller, who was linked with a move to the Spanish capital last summer, remains an option. The German caught the club’s eye after his impressive 2024–25 campaign in which he finished the season with the most passes, progressive passes and assists on his team.

The player who could beat out all the potential targets, though, is former Real Madrid man Nico Paz. The 21-year-old is in electrifying form at Como, where he has developed his playmaking, dribbling and finishing ability to become one of the most exciting young talents in the sport. Paz could be the perfect person to revitalize Los Blancos’ midfield, and he comes with just a €9 million ($10.6 million) buy-back clause.

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