Ranking the 10 best transfers in Real Madrid history

So the 10th position goes to Thibaut Courtois. A 30 million euro transfer fee for a goalkeeper is not an insignificant one, but Courtois was already one of the top goalkeepers in the world at Chelsea. At one point, he was arguably the best in the world, even above Manuel Neuer for one season.

Courtois was written off as a bust early into his Real Madrid tenure. Many fans wondered why the club replaced him with Keylor Navas, who played a key role in Los Blancos three-peating. However, there was a key turning point early in the 2019/20 season. Courtois was being booed and struggled with a stomach illness. He was even taken off at the half in an eventual loss to Club Brugge because of this illness.

So Courtois was in a huge spot in the following Champions League fixture on the road in Istanbul vs. Galatasaray. The big Belgian stepped up big-time, helping Real Madrid turn things around in an important 2019/20 campaign after a woeful 2018/19 season. Courtois made huge stops in a 1-0, clean-sheet victory. And thereafter, he was the best goalkeeper in the world – bar none. Courtois allowed just 0.59 goals per game in the 2019/20 season when all was said and done, saving nearly 80 percent of the shots he faced and recording a clean sheet in more than half of his appearances.

The next season, Courtois was even better, even though Real Madrid just barely fell short of the LaLiga title this time. Courtois had a save percentage safely above 80 percent, 81.9 to be exact. For 30 million euros, Real Madrid signed a goalkeeper who would eventually win them the Champions League, making some of the most stunning saves in the history of the tournament during their fairytale 2021/22 run, which culminated in a heroic Final performance vs. Liverpool.

Better than Iker Casillas? You be the judge. But it is understandable some Madridistas see Courtois at the level of San Iker. That’s no slight on Casillas, but rather an exclamation point on the impact Courtois’ had on Madrid. Money well-spent.

Get well soon.

9. Fede Valverde, CM

A warrior in midfield who is the envy of so many clubs around European football, Fede Valverde bleeds White. Perhaps no moment best exemplified that than his gutsy red card on Álvaro Morata just outside the box to help Real Madrid hoist the 2020 Supercup over their crosstown rivals, Atlético Madrid. Even Diego Simeone tipped his cap off to Fede.

If you thought that was clutch, then Fede’s entire 2021/22 campaign easily surpassed that. Valverde is a midfielder, but he has been a key player in other positions, including at right back against Liverpool while playing through an injury in the 2020/21 knockout stages. But in 2021/22, Fede created the goal for Real Madrid in their 1-0 Champions League Final win over the Reds with a charging run up the pitch. Before that, his inclusion in the starting lineup on the right wing as Marco Asensio’s replacement proved to be the catalyst in the Remontada over PSG.

Valverde has provided Real Madrid with ridiculous work ethic, all-around quality in midfield, versatility, and an eye for spectacular goals from distance. The 25-year-old has been one of the world’s best box-to-box midfielders since becoming a regular under Zinédine Zidane in the 2019/20 season.

And do you know how much this wonderful young talent cost Real Madrid? Five million euros from Peñarol in his home country of Uruguay. What an absolute bargain and another all-time great find by chief scout Juni Calafat.

8. Casemiro, DM

Another brilliant midfield signing from South America, Casemiro joined Real Madrid in 2013 from São Paulo for a meager six million euros, having impressed on loan at Castilla in the previous season. Real would later loan him to Porto, but even if you account for the fact that they bought him back for 15 million euros from the Portuguese giants, Los Blancos still only paid 6.9 million euros net since they initially sold him for 7.5 million euros with a 600,000 euro loan fee previously. Therefore, for a total of under 13 million euros, Los Blancos brought in a man who would eventually be the best defensive midfielder on the planet.

Well, “eventually” may not be the right word here, because Casemiro was pretty much immediately the new benchmark at the position as a destroyer who new how to perfectly walk the line of bookings, especially in the biggest matches where that extra bit of steel is necessary.

Real Madrid were knocked out of the 2014/15 Champions League semifinals despite having a loaded squad that won the UCL in the following three seasons and in the previous one. The big reason was a lack of defensive coverage in midfield, as the team did not have the right legs and was asking Toni Kroos to do too much defending, taking the German away from his important playmaking responsibilities as the metronomic presence.

Casemiro was the missing piece in the Real Madrid three-peat. He brought stability and defensive spine to the club, tirelessly running to recover possession and shield the back four. Casemiro gave Luka Modrić and Kroos the base they needed to tear even other elite teams to shred, and that allowed the “BBC” front three to light up the scoreboard.

7. Luka Modrić, CM

A 35 million euro transfer for a midfielder in 2012 may not have seemed like a bargain at the time, and, in fact, Luka Modrić was derided by even Real Madrid fans voting in MARCA as a flop after his first season with the club. But legendary manager José Mourinho remained steadfastly behind his new signing from Tottenham, and, well, that’s why you trust The Chosen One and not a bunch of overreactionary fans.

Modrić is one of the greatest players to ever grace the pitch for Real Madrid, and when you look at all the wonderful footballers who have played for this club, that’s truly saying something. In fact, he is the best midfielder to ever play for Los Merengues. Zinédine Zidane has a special aura and Toni Kroos accomplished plenty as Modrić’s contemporary on the left side of the midfield, but the 2018 Ballon d’Or winner is truly in a class of his own. I mean, how many 38-year-old’s could still produce world-class, matchwinning performances in midfield and start matches for Real Madrid?

Every time people have tried to write Modrić off, he proves them wrong. After the age of 35, he still won the Champions Leauge, producing a magical Trivela assist that is part of the inspiration for this site’s name – the idea that the great ones can produce moments of quality from nothing and that football’s inventive skill moves really do mean something in deciding the outcome of matches.

Modrić’s continued success after the age of 35 is impressive enough, but let’s not forget the kind of player peak Modrić was. He performed as an engine in midfield, the best possible No. 8 you could imagine. The Croatian magician was part playmaker with his eye for the killer pass in the final third, part defensive destroyer with his intelligence and industry as a ball-winner, and a full-time progressor of the ball as an intelligent passer and untouchable dribbler. Few throughout footballing history are as adept as Modrić as turning, losing markers, and faking changes of direction to get that bit of separation necessary in order to explode up the pitch.

Capable of shining in any role or any system in midfield, Modrić is a unicorn. He only doesn’t rank higher on this list of the best transfers in Real Madrid history because, at the time, there was an expectation he’d be great after his success at Tottenham and the 35 million euro price tag.

6. Sergio Ramos, RB

Likewise, many expected Sergio Ramos to be a great player for Real Madrid when he joined from a top LaLiga side in Sevilla for nearly 30 million euros. Still, how many people could have predicted Ramos becoming the arguable GOAT at the center back position over Paolo Maldini a decade after he joined Real as a long-haired right back?

Ramos was quite the right back, too. He was the best overall player at the 2010 World Cup when Spain triumphed over the Netherlands, and he brought that same quality to Real Madrid. Ramos could hurt you from crosses, from set pieces, and by ruling the flank as a progressor and one-on-one defender. You just couldn’t get past him.

That same defensive intensity, vision as a passer, and goal-scoring touch made him the most formidable center back on the planet. Ramos could outclass forwards with his touches and create chances with world-class passes from deep, but he was also a menacing defensive presence in peak physical condition. As a leader, he elevated the entire defense around him with his vocal style and no-holds-barred approach.

A 27 million euro transfer fee for a defender isn’t cheap, but, over the years, Ramos at least quadrupled that value to Real Madrid. More to the point, his value to the club cannot be measured in euros, given how crucial he was to each of those Champions League-winning sides and in helping build the foundation for the 2010s decade of dominance in the Spanish capital.

5. Raphaël Varane, CB

Sergio Ramos was undoubtedly the better player and bigger legend, but Raphaël Varane was also a Real Madrid legend and, at one point in his time in Madrid, the best central defender in the world. A pure defender, Varane’s closing speed and reading of the game were next-level. The 2018 World Cup winner was the covering defender, with his coolness meshing well with the hot fire Ramos brought as an aggressive ball-winner from the left center back position.

Varane joined Real Madrid in 2011 for 11 million euros from Lens at the request of Zinédine Zidane. The legendary Frenchman spotted Varane and knew he would become one of the best center backs in the world, even though most people around world football had never heard of him before.

Zizou absolutely nailed that signing. Varane is one of the biggest bargains ever. He helped build the defensive foundation of the Real Madrid three-peat sides next to Ramos, often serving as an unsung hero for Real in their battle to nullify the opponent’s best attacking threats.

4. Toni Kroos, CM

It is mind-blowing to think that another one of the world’s most historic and respected clubs didn’t value Toni Kroos, sent him an insulting contract renewal offer, and sold him for a meager 25 million euros to Real Madrid. Bayern Munich did very well for themselves in the 2010s, winning the Champions League twice in that decade, but you wonder what they could have done if they didn’t sell a legendary midfielder at less than market value to their biggest threat in the UCL.

Kroos wasn’t valued properly by Uli Hoeneß, but Die Roten’s loss was very much Real’s gain. You could argue that Luka Modrić should be higher than Kroos on this list since he had even more of an impact on Real Madrid, but when comparing the two transfers, Kroos takes the cake. That’s not only because he was 10 million euros cheaper, but it’s also because Kroos came from a direct UCL title rival at less than market value at the time of the deal. Modrić wasn’t seen as a bargain when he moved from Tottenham to Real. But when Kroos moved to Madrid, everyone was surprised by how Los Blancos swung such a deal. (At least, anyone who understood football properly.)

A unique tempo-setter in midfield, Kroos is perhaps the greatest passing midfielder ever when combining his ability to switch the field of play, pick out passes before everything develops, nail set pieces, dictate play, maneuver the opposition, control matches, and create chances with a deep pass from nowhere. Kroos can do it all at a technical and cerebral level, which proved to be matchwinning in the knockouts stages of the Champions League when Real Madrid were going up against other star-studded teams.

Against the best of the best, Kroos was the great equalizer, operating as a coach on the field and pulling the strings in such a way that he could make top teams look like a walk in the park. Just ask Liverpool how much he tormented them over the years in the Champions League. So for 25 million euros, Real Madrid bought a cheat code who could nullify anyone at the highest level.

3. Marcelo, LB

How on earth did Real Madrid sign Marcelo for 6.5 million euros? Part of that is because left backs from Fluminense in the year 2006 were never going to go for a whole lot of money, but it is still mind-blowing that Real Madrid managed to sign one of the best left backs in the history of the game for the price of a veteran backup striker.

Even at the time, though, Madridistas and fans around European football understood that Marcelo could be a top-quality player. Early on, he was seen as a potential heir to Roberto Carlos, another Brazilian Real Madrid legend who also shares the GOAT left back debate space with Marcelo.

Once Cristiano Ronaldo arrived and Marcelo had fully assimilated himself as the only option at left back, he and the No. 7 forged the greatest winger/fullback partnership in the history of football. These two attacking legends developed a telepathic communicating, with Marcelo knowing exactly where to stand, when to release the ball to Ronaldo on the counter, how his striker would move, and the right timing of the overlap and underlap.

Having Marcelo was like having a No. 10 at left back. He could pass and create like an elite attacking midfielder, producing some of the most delicate first touches we have ever seen in our lives. Marcelo recorded 41 assists between the 2013/14 and 2017/18 seasons, during which Real won four out of five Champions League titles. That’s an average of more than eight assists per league campaign.

2. Karim Benzema, CF

Like Luka Modrić, Karim Benzema joined Real Madrid for 35 million euros. At first, he had to compete with Gonzalo Higuaín at striker, and, later, a rough patch led some to want Florentino Pérez to replace him with Borussia Dortmund striker Robert Lewandowski. The Polish international, by the way, had once knocked Real out of the Champions League semifinals – that amazing José Mourinho team – by scoring five goals. Cristiano Ronaldo and Flo steadfastly refused the notion of selling Benzema, proving why, again, the greats understand football at a level us reactionary outsiders can never.

Benzema arrived in Madrid during the same transfer window as Ronaldo, and their stories can never be separated. Ronaldo was the hyped superstar and already the best player in the world at Manchester United before moving to the Merengue club. But Benzema was also a Galáctico on the road to becoming a true legend in world football history. As a young player at Lyon, Benzema was setting the world on fire as the most talented player in the historic Ligue 1 side’s history, including making a clear imprint in the Champions League. He had 37 goals and 9 assists in his last two league seasons in France.

At Real Madrid, Benzema produced 10 seasons with at least 15 goals, including 27 in a magical 2021/22 campaign that culminated in the Ballon d’Or and a LaLiga and Champions League double. While playing with Cristiano Ronaldo and Gareth Bale, Benz was the unselfish man in the middle doing everything he could to involve those two. He scored goals, yes, but his creation and dribbling skills were even more important to balancing the Madrid attack and putting those wingers in positions where they could truly shine. It’s no wonder why Ronaldo always appreciated him.

After Cristiano left in 2018 and Bale started to abruptly decline, Benzema carried Madrid. He carried them in 2019/20 after Zinédine Zidane’s return when they won the league again, and then he carried them even more in 2021/22, specifically with a seocnd-half hat trick against PSG in the Round of 16 that brought Madrid back from the dead and set the tone for their eventual triumph in the Final.

Benzema watched as Ronaldo stamped his mark as the greatest Champions League player of all time. And then after he left, Benzema followed suit, playing so well in 2021/22 that you could make the case for the Frenchman being the second GOAT to Cristiano in the UCL knockouts.

1. Cristiano Ronaldo, LW

Cristiano Ronaldo doesn’t seem like a transfer bargain on the surface, because he was literally the record-breaking move at the time he made the leap from Manchester United to Real Madrid in 2009 for 94 million euros. The funny thing about that is, at the time, United were one of the best clubs in the world while Madrid were in a purgatory in which they could not quite get out of the early rounds of the Champions League knockouts. On the surface to some, a transfer from the Red Devils to the Merengues wasn’t a leap. It was, for Ronaldo, a challenge, but an opportunity to bring the most prestigious club in world football – yes, even moreso than United – back to the absolute summit of the game. It was a chance for Cristiano to be an unforgettable icon and not just a legend. No, that was not enough for him.

So he became a machine. The Ronaldo we saw in Madrid still had the same skills and eye for invention that captivated Premier League audiences for years, but he cut down on the tricks and fancy footwork to become more of a goal-scorer focused on pure athletic power and ruthless technical efficiency in front of goal. He had a catalogue of jaw-dropping goals, but, more importantly, he had a historically-great record of goals and an ability to become larger than life in the biggest matches of the Champions League knockout stages.

Maybe no single-game performance better encapsulates the Ronaldo mentality than his hat trick against Wolfsburg in the 2015/16 campaign to bring Real Madrid back from the brink, avoiding an upset of historic proportions against the Bundesliga underdogs. It’s the sort of ‘I’ll do it myself” performance that made Ronaldo, seemingly egged on by the jeers like nobody else ever has, so famous and beloved.

Real Madrid has always been about the big superstars, and it says something that nobody has been bigger – and probably nobody ever will be bigger, not even Jude Bellingham himself – than Cristiano. He took Madrid from being a perennial Champions League disappointment into being three-peaters, taking the crown home four times in five years as, by far, the most dominant force in the competition’s history at a time when yearly dominance of that magnitude was seemingly impossible.