Real Madrid are rumoured to be interested in Mikel Merino, with Arsenal seemingly demanding €40 million for the versatile star, according to the report.

Jose Mourinho is yet to fully settle on his Real Madrid squad, and the report links the club with a potential move for the 30-year-old Mikel Merino as per Fichajes. Although there are significant doubts over whether Arsenal would be willing to sell, Merino’s versatility in both midfield and attack has caught the Spanish giants’ attention.

Mikel Merino built a reputation as a reliable central midfielder with Real Sociedad before joining Arsenal in the summer of 2024. His form in recent months has been impressive, with 23 appearances across the 2024–25 and 2025–26 campaigns during which he scored 10 goals and provided 6 assists.

His goal-scoring ability has even altered Spain manager Luis de la Fuente’s thinking over how best to use him; Merino changed the game for Spain against Portugal by scoring a late winner in the round-of-16 clash in June.

Real Madrid and the Mikel Merino links

Real Madrid boss Jose Mourinho is now reportedly considering a move for Merino ahead of the transfer window. Per Fichajes, Arsenal are understood to be demanding €40 million. Merino offers Real Madrid dual utility: goals and midfield cover, grounded in years in that position, making him an appealing option for a squad in transition under Mourinho.

Having already agreed a deal for Bernardo Silva on a free transfer, Mourinho might see Merino as another experienced player capable of filling multiple roles. Real Madrid have also been interested in signing a new midfielder despite Silva’s arrival, but they have officially ruled out a move for top target Enzo Fernandez. Whether Real Madrid’s interest in Merino proves genuine will become clear in coming weeks.

What is Arsenal’s stance on Mikel Merino?

Arsenal boss Mikel Arteta is fond of Merino, and the Spaniard fits into his tactical system perfectly. His midfield solutions combined with goal-scoring ability have proven valuable to this Arsenal side, particularly in the first half of the 2025–26 season, when he was a consistent presence.

Merino remains under contract until 2028, giving Arsenal significant leverage if the player expresses interest in a move to Madrid. However, if the Spaniard wants to make his La Liga return, specifically at the Bernabeu, the Gunners could be forced to shift their stance in theory.