Real Madrid are planning an ambitious move for Rayan Cherki in the next summer transfer window, with Jose Mourinho reportedly identifying the Manchester City forward as one of his main attacking targets.
According to Spanish outlet Fichajes, Mourinho wants to bring in a player capable of changing a game through individual creativity. Cherki, 23, fits that profile with his technical ability, imagination and versatility.
The France international, who is of Algerian origin, can play on the right or operate centrally as an attacking midfielder. Mourinho is understood to value that flexibility, which would give Real Madrid an extra option in matches when opponents defend deep and space is limited.
The proposed move is also linked to uncertainty within Real Madrid’s current attacking squad. Rodrygo’s recurring injuries have complicated the club’s plans, while Brahim Diaz could consider leaving in search of more regular playing time. Those factors have encouraged the Spanish club to assess possible changes to its forward line in advance.
Manchester City reluctant to sell
Any deal for Cherki would be difficult to complete because Manchester City regard him as an important part of their sporting project and are not expected to consider a departure without a substantial offer.
Fichajes reports that Real Madrid know they may have to bid more than €100m simply to begin serious discussions. The potential fee reflects both the value City place on the player and the financial strength of the club, which is under no obvious pressure to sell.
The scale of the proposed transfer has been compared with the situation involving Bukayo Saka. Arsenal could reportedly demand between €150m and €160m for the England winger, according to estimates raised in the same context.
Real Madrid must therefore decide how far they are prepared to go to meet Mourinho’s demands while maintaining control of their finances and addressing other areas of the squad.
Financial factors could influence plans
The Spanish club’s approach may also depend on developments affecting the finances of English clubs. Real Madrid are reportedly monitoring any potential financial sanctions involving Manchester United in the Premier League, although their direct effect on Manchester City’s position remains unclear.
There is currently no indication that those circumstances would change City’s valuation of Cherki. However, they could form part of Real Madrid’s wider assessment of the English transfer market as it considers how to structure a possible offer.
The signing would represent a major investment, requiring Real Madrid to balance their sporting ambitions, Manchester City’s demands and the club’s other recruitment priorities.
Informal talks expected later in 2026
Fichajes reports that Cherki’s representatives are expected to hold informal discussions with Real Madrid officials in November and December 2026.
Those conversations would allow both sides to assess the Spanish club’s level of interest and explore the possible conditions of a deal. They would not indicate that an agreement was close, nor would they mean Manchester City had agreed to consider selling the player.
Cherki could become a central part of Mourinho’s proposed new attacking project at Real Madrid, but the club would need to commit more than €100m to persuade Manchester City to let him go.