Alious
Sunderland’s pursuit of CA Osasuna winger Víctor Muñoz during the January transfer window has now been laid bare, with fresh reports in Spain revealing the Black Cats launched multiple attempts to bring the highly-rated attacker to the Stadium of Light — but still fell well short of what Osasuna were willing to accept.
According to Diario de Navarra, Sunderland were not casual admirers. They pushed hard behind the scenes and even returned with improved terms, but ultimately failed to convince either the player or the Spanish club to green-light a mid-season move.
Sunderland’s First Offer: €20m
The report claims Sunderland’s opening bid stood at €20 million, a sizeable figure that showed serious intent. However, Osasuna were unmoved and quickly rejected the proposal.
Second Bid: €25m Plus Mayenda Loan Deal
Not willing to give up, Sunderland reportedly returned with a better offer, raising the cash figure to €25 million. On top of that, the Black Cats also offered a sweetener — a deal that would see Eliezer Mayenda move to Osasuna on loan until the end of the season.
Mayenda has struggled for regular minutes under Régis Le Bris, making only limited starts and accumulating just 577 minutes across 14 appearances. That lack of involvement suggests Sunderland were willing to use him as a bargaining tool in order to secure Muñoz.
But despite the increased offer, Osasuna remained firm.
Why Osasuna Said No
Diario de Navarra states that Muñoz was informed of Sunderland’s interest through his representatives, but the 22-year-old was not interested in leaving Osasuna midway through the season, especially after only arriving from Real Madrid in July 2025.
Osasuna also had another major reason to reject Sunderland’s approach: Real Madrid still retain 50% of Muñoz’s rights, meaning any transfer fee would be split — giving Osasuna even less incentive to sell unless the price was huge.
Instead, the La Liga club reportedly pointed Sunderland towards Muñoz’s €40 million release clause, making it clear they would not negotiate below that figure.
Sunderland Still €15m Short
Even Sunderland’s improved €25m offer left them around €15m short of Osasuna’s valuation, with the Spanish club refusing to be tempted by add-ons or player incentives.
The report adds that Sunderland’s approaches were verbal offers rather than formal written bids, and that the final push came just two days before the window closed.
Muñoz’s Form Makes Him a Hot Property
Muñoz has been in impressive form this season, registering five goals and four assists in 25 appearances across all competitions.
His rising stock has already attracted big attention, with Tottenham previously linked to a massive bid and AC Milan having tried to sign him last summer — only for the player to choose Osasuna instead.
Big Ambition — But Big Resistance
Sunderland’s aggressive January push shows they are willing to spend heavily and chase top-level talent, but this saga also underlines a harsh reality: Osasuna are not prepared to sell their star asset unless the full release clause is met.
For now, Víctor Muñoz remains in Spain — and Sunderland are left knowing exactly what it will take if they decide to return in the summer.
Alious
