A season without stakes — and a summer full of them
Real Madrid head into the final stretch of the 2025–26 La Liga season with nothing left to play for on the pitch. That sentence alone tells you everything you need to know about how this campaign has gone. Sunday's trip to Sevilla, a club fighting for survival, is the last away game of the season, and it lands with the hollow feeling of a formality (1) (9).
Valverde's return is still on hold
The squad list for Sevilla confirmed what many feared: Federico Valverde is still not available. He rejoined group training late in the week, which is encouraging, but he did not make the cut (1) (2) (3). Valverde's absence has been one of the quiet disasters of this season, and the fact that he still can't be trusted for a dead-rubber away game in late May says something about how carefully the medical staff are managing him into the summer.
Mbappé, meanwhile, returns to the lineup after being left out in recent weeks (5). His presence matters less for the result against Sevilla and more for what it signals heading into the off-season: the club needs to know what version of Mbappé they actually have.
Mourinho: the rumour that won't go away
The biggest story of the week had nothing to do with what happened on the pitch. José Mourinho publicly acknowledged that talks about a return to Real Madrid are real, though he was careful to add that nothing has happened directly with him yet (10) (12). Multiple outlets are now treating his return as close to certain (15).
This is one of the more divisive ideas Real Madrid could pursue. Mourinho's first spell produced a league title and plenty of noise. His style of football and his relationship with the dressing room are legitimate questions. But the club clearly believes it needs someone who can impose authority on a squad that has drifted this season. Whether Mourinho is the answer is a genuine debate. That the conversation is happening at all is a sign of how seriously the hierarchy views the problem.
The transfer board is taking shape
Defence is an obvious priority. Josko Gvardiol, injured since January and entering a complicated situation at Manchester City, has been offered to Real Madrid and is being seriously considered as a reinforcement at left-back or centre-back (6) (7) (14). The Bernardo Silva links to the club have run in parallel, suggesting Madrid are targeting multiple City players in one operation.
In midfield, Kees Smit has emerged as a genuine option to fill the void left by Toni Kroos. The club has never adequately replaced him, and it has cost them (11). Smit is not a marquee name, but this window may be about fixing structural problems rather than chasing headlines.
The most urgent situation is Arda Güler. Arsenal have reportedly made a significant offer for the young playmaker, and Premier League interest is growing (8) (16). Chelsea are also circling the Madrid squad more broadly following Xabi Alonso's appointment (17). Losing Güler, in particular, would be a serious mistake. He has been one of the few genuine bright spots this season. The club needs to make its intentions clear quickly.
Looking ahead
Next week, watch for three things. First, how Mbappé performs at Sevilla and whether he finishes the season with anything resembling momentum. Second, any official movement on the managerial situation: if Mourinho's name moves from rumour to confirmation, it will define the entire summer. Third, and most importantly, whether Madrid act decisively on Güler's future before Arsenal's interest becomes an offer that's hard to refuse. The season is over in all but name. The real work starts now.