Barcelona cash in on La Masia graduates as Real Madrid model proves lucrative

Real Madrid have generated about €210m from selling players developed at their Valdebebas academy, while retaining buy-back clauses or future rights in many cases. Barcelona are now adopting a similar approach, raising around €44.5m from academy graduates not considered part of Hansi Flick’s immediate plans.

According to Spanish newspaper Sport, Real Madrid have 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 has been funded by selling academy players who were not expected to feature regularly for the first team in the medium term.

The club have increasingly struggled to find room in their senior squad for major prospects from La Fabrica. However, they have compensated for the lack of a sporting return by turning those players into significant sources of transfer income.

In many instances, Real Madrid have negotiated buy-back options, preferential rights in future sales and a 50% share of the players’ registration rights. That allows the club either to bring them back to the Santiago Bernabeu or benefit financially if they move on from their new clubs.

Of the 13 academy graduates sold for fees, excluding Fran Garcia, only Gonzalo Garcia remained part of the first-team picture, with his valuation placed at €40m.

Gonzalo Garcia moved to Fulham, managed by Alvaro Arbeloa. Cesar Palacios joined the same club for €10m, while Manuel Angel Moran completed a €4m move.

The other three players who had been involved in Real Madrid’s youth teams last season before leaving this summer were Jacobo Ortega, for €10m, Victor Valdepenas, for €8m, and Fran Gonzalez, for €3m.

Real Madrid also retained control over the medium-term future of those players, either through buy-back clauses or by securing a share of any future transfer income.

The largest returns this summer have come from players who had previously seen 50% of their registration rights sold to other clubs. 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 respective clubs later sold them on.

Some of those players never made a first-team appearance for Real Madrid, yet still contributed to the club’s finances.

Nico Paz represents a separate and particularly profitable case. Real Madrid sold 50% of his rights to Como last year and transferred the remaining half this summer for €60m. The agreement also gives Real Madrid a buy-back option worth €80m.

Paz’s desire to continue working under Como manager Cesc Fabregas helped bring about what has been Real Madrid’s most profitable sale of the summer.

Barcelona’s smaller-scale version of the strategy has brought in €44.5m from eight academy graduates. That figure excludes nominal training-compensation payments received for players such as Marc Cucurella and Nico Gonzalez, as well as the €11m Monaco paid for Ansu Fati, who had already established himself among the elite of world football more than five years ago.

Marc Casado could have increased the total but ultimately left on loan, while full-back Alejandro Balde remains with the first team.

Like Real Madrid, Barcelona have chosen to sell 50% of some players’ rights while retaining preferential buy-back options. 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 for Jan Virgili, who moved for €4.5m a year ago. Barcelona have now benefited again after he transferred from Real Mallorca to Club Brugge.

The final case is goalkeeper Inaki Pena, who left for €3m. His situation was different because he is 27 and ended his association with Barcelona permanently, with the club retaining no preferential rights.

Barcelona’s total income from the strategy is close to the money raised by selling Ferran Torres and more than twice the amount they paid to sign Karim Adeyemi.