Alvaro Carreras Edging Closer to Real Madrid Return as Obrador Heads to Benfica

Real Madrid are on the verge of bringing Alvaro Carreras back to the Spanish capital, with negotiations with Benfica said to be progressing smoothly. The 22-year-old left-back, who began his journey at Real Madrid’s youth academy, is now likely to return as part of Xabi Alonso’s squad rebuild this summer.

Talks between Madrid and Benfica had originally started earlier this summer, but everything was put on hold while both clubs focused on their Club World Cup commitments. Now that Madrid’s campaign in the tournament is wrapping up, transfer discussions have picked up pace again. Carreras is expected to cost around €50 million, and it looks increasingly likely that a deal will be struck in the coming days. 

EXCLUSIVE: Real Madrid are closing in on Álvaro Carreras deal… with Rafael Obrador to Benfica included as part of negotiations.

Fixed fee plus Obrador deal at the final stages with clubs set to complete the agreement in next days.

Carreras to Real, here we go soon. pic.twitter.com/7cbmfkIJC6

— Fabrizio Romano (@FabrizioRomano) July 8, 2025

Benfica president Rui Costa had initially resisted Madrid’s attempts to lower the asking price, reportedly holding firm during negotiations with Florentino Perez. However, with Madrid agreeing to Benfica’s valuation and personal terms already sorted between the club and Carreras, the transfer now feels like a matter of “when” rather than “if.” 

Carreras, who left Madrid in 2020 to join Manchester United, never made a first-team appearance for the English giants. A disappointing loan spell at Granada followed, but things finally clicked for him at Benfica. His performances last season were impressive enough to catch Madrid’s attention once again, and he’s now poised for a homecoming to the Bernabeu. The move will make Carreras the fourth signing of the summer for new manager Xabi Alonso. The left-back will join an already exciting group of arrivals, including Dean Huijsen from Bournemouth, Franco Mastantuono from River Plate, and Trent Alexander-Arnold from Liverpool. With the new La Liga season set to begin on August 19 against Osasuna, the timing couldn’t be better for the young Spaniard to get started. 

Rafael Obrador goes the other way 

Interestingly, the Carreras deal is tied to another bit of business between Madrid and Benfica involving Rafael Obrador. Obrador, also a left-back and a Real Madrid youth product, spent last season on loan at Deportivo La Coruña. He’ll now move to Benfica in a separate deal worth €5 million, effectively replacing Carreras in their squad. 

According to Diario AS, Madrid have negotiated a clause in the Obrador deal that gives them some degree of future control—likely a buy-back or matching clause—so they’re keeping one eye on his development. This arrangement not only helps Benfica fill the Carreras void but also contributes to bridging the earlier financial gap between the two clubs during the Carreras negotiations. All signs now point to Carreras returning to Madrid, and fans will be keen to see how he fits into Alonso’s plans. As for Obrador, his Portuguese adventure could just be the beginning of something bigger down the road.