Real Madrid have reached a full agreement with Jose Mourinho to return as manager ahead of the 2026/27 season, while simultaneously preparing a €150m (£125m) move for Manchester City midfielder Rodri. Journalist Sacha Tavolieri reports that the deal for Mourinho, 63, is finalised for a return to the Bernabéu in late May, with the club set to trigger a €3m (£2.6m) release clause in his Benfica contract. The Portuguese coach will replace interim manager Alvaro Arbeloa following a second consecutive trophyless season for the Spanish giants.
Mourinho return and the €3m exit clause
Florentino Pérez has turned to Mourinho to restore authority following the club's recent decline and the departure of Xabi Alonso. According to reports in Spain and corroborated by Fabrizio Romano, talks have reached an advanced stage with a project already presented to the former Chelsea and Manchester United boss. Mourinho joined Benfica in September 2025 following a short-lived stint at Fenerbahçe, but his contract in Lisbon reportedly allows him to depart if a release clause is triggered within 10 days of the current season ending. This return marks Mourinho's second tenure in Madrid, 13 years after his initial exit in 2013, following a pattern of re-hiring former managers like Carlo Ancelotti and Zinedine Zidane during Pérez's presidency.
The €150m 'Galáctico' pursuit of Rodri
To support Mourinho’s appointment, Real Madrid have identified Rodri, 29, as their primary transfer target to anchor a midfield that has struggled for control since the departures of Toni Kroos and Luka Modrić. As first reported by beIN Sports, the club is prepared to offer between €100m and €150m for the Manchester City standout. With Rodri's contract at the Etihad expiring in June 2027, City face a dilemma in the summer of 2026; they must either agree to an extension or risk his valuation plummeting as he enters his final year. Rodri has previously addressed the interest, stating to OneFootball that while he has history with Atletico Madrid, he "can't rule things out" regarding a move to the Bernabéu. This tactical pivot suggests a move away from the high-energy, transitional style seen under Arbeloa toward a more controlled, metronomic system favoured by Mourinho.
The deal for Mourinho is expected to be formalised once the Portuguese domestic season concludes later this month.