Liverpool have completed the signing of Osasuna winger Victor Munoz for £34.5m, with the Spain international currently at the World Cup. The 22-year-old will sign a six-year contract at Anfield after passing his medical in the US, with the fee paid in two instalments. Munoz brings pace and versatility, primarily operating on the left wing but capable of playing across the front line.

Newcastle believed they had secured Munoz's signature after agreeing a £33.3m deal with Osasuna, with the player reportedly keen to join. However, Liverpool's long-standing interest, accelerated by new head coach Andoni Iraola's knowledge of La Liga, saw them move ahead in the final 24 hours. This mirrors last summer's pursuit of Hugo Ekitike, where Newcastle again missed out.

Munoz progressed through Barcelona's La Masia academy before joining Real Madrid's youth setup in 2023. Carlo Ancelotti handed him his La Liga debut in May 2025 as a substitute against Barcelona. Last season, he featured 34 times for Osasuna in La Liga, scoring six goals and providing two assists. His arrival doesn't end Liverpool's search for wide players, with RB Leipzig's Yan Diomande still targeted despite a valuation exceeding £86m.

Federico Chiesa faces increased competition for minutes following Munoz's arrival. The Italy winger, who made just one Premier League start last season under Arne Slot, may struggle for regular football under Iraola despite being given a clean slate. With multiple attacking options expected, Chiesa could seek opportunities elsewhere.