Real Madrid have generated €210m from the sale of players developed at Valdebebas, using a transfer strategy that has also allowed them to retain buy-back clauses and a share of future transfer rights in many cases.
Barcelona have started to adopt a similar model, raising about €44.5m from eight La Masia graduates who were not part of Hansi Flick’s immediate plans.
According to a report by Sport, Real Madrid made four signings this summer for fixed fees totalling €225m, with the final cost potentially increasing through performance-related add-ons. Almost all of that expenditure was effectively funded by selling academy players who were not expected to feature regularly for the first team in the medium term.
The approach reflects the difficulty Real Madrid have faced in finding places for promising graduates within an established senior squad. While the players may not provide an immediate sporting return, their departures can still offer significant financial value.
In most cases, the Spanish club have negotiated buy-back options, first-refusal rights over future sales or retained 50% of the players’ federation rights. Those agreements give Real Madrid the possibility of bringing players back to the Santiago Bernabeu or benefiting financially if they move on from their new clubs.
Of the 13 academy graduates for whom Real Madrid received transfer income, excluding Fran Garcia, only Gonzalo Garcia was part of the first-team squad. He joined Fulham, managed by Alvaro Arbeloa, the same club that signed Cesar Palacios for €10m and Manuel Angel Moran for €4m.
The other three players who spent last season in Real Madrid’s youth system before leaving this summer were Jacobo Ortega, for €10m, Victor Valdepenas, for €8m, and Fran Gonzalez, for €3m.
Real Madrid also secured substantial proceeds through players sold previously with the club retaining half of their federation rights. Victor Munoz generated €20.5m, Mario Gila €15m, Alex Jimenez €12.5m, Alvaro Rodriguez €12.5m, Chema Andres €11.5m and Mario Martin €3m when their new clubs later acquired the remaining rights.
Some of those players had never appeared for Real Madrid’s senior team, yet they still contributed to the club’s income when their subsequent transfers were completed.
The most lucrative individual case was Nico Paz. Real Madrid sold 50% of the Argentina international’s rights to Como last year before completing the sale of the remaining half this summer in a complicated agreement worth €60m. The deal included an €80m buy-back option for Real Madrid.
Paz’s desire to continue working under Como manager Cesc Fabregas helped bring about the most profitable transfer involving a Real Madrid academy graduate this summer.
Barcelona’s total came from eight players and did not include the small, almost symbolic sums received for training rights involving players such as Marc Cucurella and Nico Gonzalez. It also excluded the €11m paid by Monaco for Ansu Fati, because he had already established himself among the elite of world football more than five years ago.
Marc Casado could have increased Barcelona’s income but ultimately left on loan, while left-back Alejandro Balde remains with the club.
Barcelona have also sold 50% of the rights to several graduates while preserving a preferential buy-back option. Tommy Marques left for €11m, Hector Fort for €8.5m, Jofre Torrents for €6m, Guille Fernandez for €4m, Toni Fernandez for €4m and Alvaro Cortes for €3.4m.
The same arrangement was used when Jan Virgili left for €4.5m a year ago. Barcelona have now received further income after he moved from Mallorca to Club Brugge.
The final case is Inaki Pena, who departed for €3m. Unlike the younger players, the 27-year-old ended his association with Barcelona permanently and the club retained no preferential rights.
Barcelona’s overall academy-sale income therefore stands at about €44.5m, a figure close to the amount raised from selling Ferran Torres and more than twice the fee paid to sign Karim Adeyemi.
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