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Two Key Reasons Why Arsenal Could Still Miss Out on Martin Zubimendi Despite £51m Agreement
Arsenal have a deal in place for Martin Zubimendi, but the midfielder’s hesitation and Real Madrid’s late interest under Xabi Alonso could derail the transfer.

Zubimendi Yet to Commit Amid Ongoing Uncertainty Over His Future
Arsenal may have reached a payment agreement with Real Sociedad for Martin Zubimendi, but that doesn’t mean the deal is done. The midfielder hasn’t signed, and his recent comments suggest the situation is far from resolved. When asked about his future, Zubimendi admitted he still doesn’t know what will happen, saying it could be a "long summer."
His focus is currently on national team duties, and he isn’t prioritising transfer talks. This echoes what happened earlier in the window, when Liverpool were confident of signing him, only for the Spain international to opt to stay in San Sebastian. Arsenal fans will be hoping history doesn’t repeat itself.

Real Madrid Enter the Race, With Xabi Alonso Leading the Push
Zubimendi may prefer to remain in Spain, and Real Madrid’s interest could be the deciding factor. The La Liga side have not ruled out a move and reports suggest new boss Xabi Alonso has made Zubimendi his top target. There’s also a personal connection - Alonso previously coached Zubimendi at Real Sociedad B, and the player is reportedly ‘attracted’ to the idea of reuniting with his former mentor.
Madrid, however, are not expected to match either the £51m release clause or Arsenal’s £8m-per-year salary offer. But if Zubimendi signals he’s open to joining Los Blancos, they’ll look to strike a lower-fee deal, a situation that could leave Arsenal empty-handed once again.
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