Real Madrid have decided on their first signing of 2027 with a deal that could have significant implications for Chelsea and Manchester United.

Madrid have looked to rebuild their squad under Jose Mourinho, with the La Liga giants splashing out €225 million on signings during the summer – the most in a season since 2019.

The club’s business was largely funded through sales, in particular through the €60 million received from Como for the complete rights to Nico Paz, whom Madrid had the option to buy-back for €9m.

Having seen Paz thrive in Como, the Serie A side signed his Castilla teammate Jacobo Ramon in 2025 for €2.5m in a similar deal which gives Madrid the option to re-sign the defender for under €9m next summer.

And, according to reporter Matteo Moretto, Madrid will take up that option next summer after being delighted by Ramon’s progress with Como.

However, Los Blancos could look to immediately cash in on Ramon, with the likes of United and Chelsea also keen on the 21-year-old, or they may look to integrate the youngster into their first team if he continues to develop over the season.

Jacobo Ramon: Real Madrid hold the cards to Man Utd and Chelsea target

Having made a huge profit on Paz, Real Madrid retaining control of Ramon’s future could mean United or Chelsea are forced into paying a massive premium for the Spaniard.

Madrid still retain a €80m option to buy Paz, with Chelsea also rumoured to be monitoring the midfielder, and Ramon may fetch a similar fee after his impressive displays for Como.

Ramon has become an ever-present in Cesc Fabregas’ team and starred for Como in their 4-1 win over Manchester United last week, which put the youngster firmly on the map of Premier League clubs.

Previous reports have claimed that Madrid see Ramon as a natural successor to Antonio Rudiger, who is out of contract at the end of the season, and it is entirely possible that they look to keep hold of a player who is already one of the top performers in Italy.

The process to sell Ramon could also prove complicated due to rules preventing clubs from profiting on a player in the same window they are signed but, it appears certain that Real Madrid will have the chance to make another shrewd deal regardless with their first signing of 2027.