Real Madrid’s prospects of signing Spain midfielder Martin Zubimendi in the January 2027 transfer window have improved after Atletico Madrid denied any interest in the Arsenal player.
According to journalist Antonio Ruiz on radio programme El Partidazo on Cope, sources at Atletico said the club were neither negotiating for Zubimendi nor considering a move for him in January 2027. Their position contradicts reports that had identified the Madrid club as one of the potential suitors.
Atletico’s stance is a significant development in the midfielder’s future, particularly after the British newspaper The Independent reported on Tuesday that Real Madrid, Chelsea and Atletico were all interested in signing him.
Zubimendi’s position at Arsenal has reportedly come under pressure because of his reduced role in Mikel Arteta’s plans, raising the possibility that he could leave the club.
Chelsea viewed as leading contender
Although Atletico Madrid have withdrawn from the potential race, Real Madrid still face strong competition for the midfielder.
Cope’s report says Chelsea would be the most likely destination for Zubimendi if he decides to leave Arsenal. Chelsea manager Xabi Alonso has known the player since the pair worked together at Real Sociedad, which could give the London club an advantage.
That situation leaves Chelsea in a relatively strong position, while Real Madrid could see an opportunity to bring Zubimendi back to La Liga. The midfielder left Real Sociedad in the summer of 2025 to join Arsenal.
Arsenal set £60m asking price
The principal obstacle for interested clubs is Arsenal’s valuation. The Independent says the Premier League club would not be willing to sell Zubimendi for less than £60m, the amount Arsenal paid to sign him from Real Sociedad.
The likelihood of a departure has also increased because of the number of midfield options available to Arteta. Arsenal signed Brazilian midfielder Bruno Guimaraes for £85m last summer, while Arteta has recently selected Guimaraes alongside Declan Rice in central midfield.
Zubimendi’s future may also be influenced by Arsenal’s plans in attack. Arteta wants to recruit a fast winger capable of carrying the ball forward, and the club may need to complete a major sale to generate the funds required for that signing.
Atletico Madrid’s denial reduces the number of possible competitors for Zubimendi within the Spanish capital and gives Real Madrid more room to pursue the player. However, it does not provide them with a decisive advantage, with Chelsea strongly placed and Arsenal expected to maintain its £60m financial demand.
