According to Marca, Real Madrid academy prospect Jacobo Ortega officially completed his transfer to Ligue 1 side Strasbourg on Monday, further highlighting the club’s clear transfer strategy this summer: using revenue generated from academy player sales to fund the first-team rebuild.

Alongside the return of manager José Mourinho, Real Madrid have already signed six new players this summer. However, at the same time, the club’s income from selling academy graduates has surged to around €200 million.

This huge amount of revenue has almost covered the cost of a major first-team overhaul. Real Madrid have spent heavily on signings such as Diomande, Cucurella, Espi and Dumfries, with the four players costing a combined €225 million, while also securing free transfers for out-of-contract players Bernardo Silva and Konaté.

As a result, the club’s actual net spending currently stands at only around €25 million.

In Ortega’s transfer, Real Madrid once again used their familiar sell-on and ownership-sharing model. The 20-year-old forward, who was part of last season’s UEFA Youth League-winning squad, was sold to Strasbourg for €10 million in exchange for 70% of his rights.

This approach allows Real Madrid to generate immediate income while maintaining control over the player’s future development. Previously, when the club sold Gonzalo to Fulham for €40 million, they also retained a percentage of his future rights.

Of course, Real Madrid’s strategy has not been without criticism. Some have questioned the decision to sell academy talents such as Gonzalo while spending significant amounts on young players like the 19-year-old Diomande.

However, it is undeniable that Real Madrid still maintain control over the future of many academy graduates who leave the club.

For example, when Muñoz moved from Osasuna to Liverpool, Real Madrid received a 50% share of the transfer fee, earning €20 million — the club’s third-largest source of income this summer.

The club’s intention is clear: on one hand, generate funds by selling academy players to strengthen the first team; on the other hand, retain as much control as possible over the development and future value of those talents.

So far, the €200 million generated from academy player sales has covered around 80% of Real Madrid’s first-team transfer spending.

With around two weeks remaining before the transfer window closes, Real Madrid could still make further moves. Mourinho believes the midfield requires additional reinforcement, and he would also welcome the arrival of another centre-back if an opportunity arises.