Arsenal are circling Endrick again, weeks after Fabrizio Romano shut the door on a summer move, because the 20-year-old's situation at Real Madrid has not improved by a single minute of La Liga football.
TEAMtalk reported on 19 September that Arsenal remain in contact with the player's camp and with Real Madrid over a potential January deal, while
The Athletic confirmed a review of Endrick's role is planned before the winter window opens.
The question is whether the gap between Arsenal's interest and Real Madrid's willingness to sell can close in the space of three months.
Contents
1. Endrick to Arsenal rated ‘Possible'2. Endrick to Arsenal3. Financial viability4. Buying club need5. Player motivation6. Selling club incentive7. Market momentum8. Endrick to Arsenal: Will or won't it happen?Endrick to Arsenal rated ‘Possible'
The Football Whispers Index scores every transfer rumour across five weighted factors. Read how it works here.
Football Whispers Transfer IndexEndrick to Arsenal
64/100 TPI Possible Arsenal held exploratory talks with Real Madrid in late August, and Endrick's camp are due to meet the club during the international break, but Fabrizio Romano has said the 20-year-old has no intention to leave and Real Madrid's asking price starts at around €60m. Updated 20 September 2026 Financial viability18 / 25 Buying club need14 / 20 Player motivation12 / 15 Selling club incentive9 / 20 Market momentum12 / 20The score lands at 64, one point below the Likely threshold, and the reason it sits there rather than higher is straightforward: the player does not want to leave, and the selling club does not want to sell.
Everything else in the model leans towards this deal making sense, and that is what makes the rumour worth tracking rather than dismissing.
Arsenal can afford Endrick comfortably, they have a position that could open up if Viktor Gyokeres departs, the player would get more football at the Emirates than he is getting at the Bernabeu, and the age profile is exactly right for a club that has built its squad around players in or approaching their mid-twenties.
Financial viability
Financial viability18 / 25 Real Madrid paid an initial €60m for Endrick in 2024, rising to €70m with add-ons, and would not accept less than that outlay back — comfortably within range for an Arsenal side generating over €822m in annual revenue. Endrick earns €80,192 a week at Real Madrid, a fraction of Arsenal's wage structure, where Bukayo Saka tops the bill at £300,000 a week. Arsenal are comfortably within the Premier League's new 85% squad cost ratio, with revenue growing at roughly 15% year on year since 2022. The four years remaining on Endrick's contract until June 2030 give Real Madrid maximum leverage over any fee negotiation.Arsenal's revenue crossed €822m in 2024-25, putting a €60m fee at under 8% of annual turnover, well within the range the club has operated in for recent signings like Declan Rice, Gyokeres and Bruno Guimaraes.
The wage side is even simpler: Endrick earns less than €4.2m a year in fixed salary at Real Madrid, which means Arsenal could comfortably triple his money and still sit below what Gyokeres currently takes home at £220,000 a week.
Where the deal gets harder is the contract: four years remaining until June 2030 gives Real Madrid no reason to accept a penny below what they paid, and the €60m initial fee they handed Palmeiras in 2024 is the floor, not the ceiling.
A loan structure, which The Athletic have reported Real Madrid are considering, would sidestep this entirely, but it would also mean Arsenal invest a window and squad slot in a player they might have to return to the Bernabeu in six months.
Buying club need
Buying club need14 / 20 Kai Havertz has started all four Premier League matches in 2026-27 as Arsenal's first-choice centre forward, with Viktor Gyokeres managing a combined 29 minutes in the league so far this season. Gyokeres' representatives are reportedly in talks with AC Milan, Juventus, Al Ahli and Al Ittihad over a January exit, which would leave Arsenal a striker light behind Havertz. Endrick is 20 and fits Arsenal's young recruitment profile perfectly — Saka is 24, Christos Tzolis joined for £34m this summer, and Noni Madueke arrived from Chelsea last year. At Lyon in 2025-26, Endrick registered eight goals and eight assists in 21 Ligue 1 appearances, ranking in the 99th percentile for shot attempts and 88th for goals among attacking players on FotMob.Kai Havertz has started every Premier League game this season at centre forward, and it is his position now. The 2025-26 campaign ended with Havertz ahead of Gyokeres in the knockout rounds of the Champions League, and Mikel Arteta has not reversed that call.
Gyokeres, who scored 21 goals in all competitions last season as Arsenal won the title, has played 29 minutes of Premier League football in 2026-27 and was an unused substitute against both Coventry and Sunderland.
CaughtOffside reported on 20 September that his representatives are already in talks with AC Milan, Juventus, Al Ahli and Al Ittihad, and David Ornstein has hinted that Arsenal could move for a forward in January.
If Gyokeres goes, the need for a striker behind Havertz becomes obvious and urgent, and Endrick's profile fits the recruitment template Arsenal have built around players who are 20 to 24 and on an upward trajectory.
Player motivation
Player motivation12 / 15 Arsenal sit top of the Opta global power rankings on 100.0, seven points clear of Real Madrid on 94.1 — this would be a move to the world's highest-rated side and the reigning Premier League champions. Endrick has played four minutes of La Liga football in 2026-27, is third in Real Madrid's striking pecking order behind Kylian Mbappe and Carlos Espi, and has started just nine matches for the club in total. Fabrizio Romano reported on 28 August that Endrick “has no intention to leave” Real Madrid, and his camp have denied claims he has asked for a transfer. TEAMtalk reported on 19 September that Endrick's representatives will meet Real Madrid during the international break to discuss his limited role and development prospects.The football case for Endrick to move is overwhelming: he has played four minutes all season, he is behind Kylian Mbappe and a summer signing from Levante in the pecking order, and his career is at the stage where he needs to play 30 to 40 matches a year, not four minutes in a 2-3 win at Elche.
Arsenal, by contrast, rank first in the world on Opta's power rankings, won the Premier League last season, and would give him a genuine pathway to regular football either as Havertz's rotation partner or, if Gyokeres leaves, as a direct competitor for the starting shirt.
The problem is that Endrick does not appear to see it that way yet.
Romano was unequivocal on 28 August: Endrick has no intention to leave, Real Madrid's management and Jose Mourinho wanted him to stay, and Arsenal were not going to approach a player who was not on the market.
Three weeks on, the landscape has shifted slightly: TEAMtalk's Graeme Bailey reported on 19 September that Endrick's representatives plan to meet Real Madrid during the international break to discuss his development and his role, and there is a growing sense that his patience with four minutes of league football is not unlimited.
Selling club incentive
Selling club incentive9 / 20 Real Madrid generated €1.185 billion in revenue in 2024-25, the highest in world football for a third consecutive year, and carry net debt of just €12m — there is zero financial pressure to sell. Jose Mourinho, Florentino Perez and the management board all blocked Endrick's exit during the summer window, per Fabrizio Romano on 28 August. The Athletic have confirmed that a review of Endrick's situation will take place before the January window, with Real Madrid considering another loan — a crack in the door that did not exist in August. Real Madrid signed Carlos Espi from Levante this summer to serve as Mbappe's backup, leaving Endrick without a clear pathway to regular minutes at the Bernabeu.This is the pillar that holds the score down, and it should, because Real Madrid have no reason to do anything they do not want to do.
They generated €1.185 billion in revenue last season, carry €12m in net debt, and have a president, a board and a manager who all explicitly decided in August that Endrick was not leaving.
What has changed since then is not the finances but the football reality: the signing of Carlos Espi from Levante pushed Endrick to third in the striking queue, and four matchdays into the season he has been used for four minutes, all of them in a game Real Madrid were already winning comfortably at Elche.
The Athletic's report that a review is planned before January is the first crack in a position that was airtight a month ago, and while a loan rather than a permanent sale remains the more likely outcome if anything happens, the fact that Real Madrid are now willing to assess the situation at all marks a shift in their thinking.
Market momentum
Market momentum12 / 20 TEAMtalk's Graeme Bailey reported on 19 September that Arsenal are in contact with Real Madrid and Endrick's camp over a potential January deal — the first credible claim of live dialogue since the summer window closed. talkSPORT originally reported that Arsenal held exploratory talks with Real Madrid in late August, while The Athletic confirmed a pre-January review is planned. Fabrizio Romano called reports of Arsenal making contact for Endrick in the summer “fake news” on his YouTube channel, saying “Arsenal know that Endrick is not on the market” — though by 17 September he acknowledged clubs would be ready to move if Endrick eventually wants a change. Liverpool, Manchester United, Manchester City, Tottenham, Aston Villa and Fulham have all been named as interested parties for 2027, with Manchester United reportedly preparing a €60-70m bid.The sourcing for this rumour is mid-tier and building, not top-tier and confirmed.
TEAMtalk's Graeme Bailey has been the primary driver of the January link, reporting on 19 September that Arsenal are in active contact with both Real Madrid and Endrick's representatives, and he has a track record of getting to stories early in Premier League transfer cycles.
talkSPORT independently reported Arsenal's late-August exploratory talks, and The Athletic confirmed that a January review is planned from Real Madrid's side, which adds credibility to the idea that something is stirring even if no deal is close.
Set against that, Romano was emphatic on his YouTube channel in late August that the Arsenal interest was not real at the time, telling viewers that “Arsenal are not stupid” and that they would never approach a player who was explicitly not on the market.
By 17 September, though, Romano himself acknowledged that clubs would be ready to move if Endrick eventually wants a change, a meaningful softening from the hard “zero chances” line he held three weeks earlier.
The competition is also worth noting: Liverpool, Manchester United, Manchester City, Tottenham, Aston Villa and Fulham have all been named by TEAMtalk as interested in Endrick for 2027, with CaughtOffside reporting that Man Utd are preparing a €60-70m bid of their own.
Endrick to Arsenal: Will or won't it happen?
The verdict64 / 100 Arsenal's interest is real and Endrick's playing-time problem at Real Madrid is getting worse, not better, but the number sits at Possible because the player himself has shown no public desire to leave and Real Madrid are under no pressure to sell. It happens if Gyokeres departs in January, Endrick's agent meeting produces genuine frustration rather than reassurance, and Real Madrid accept a loan with an option — the structure that lets everyone save face. It dies if Mourinho starts giving Endrick minutes after the international break, or if Arsenal land Julian Alvarez instead and the January forward budget gets spent elsewhere.This is a rumour being driven by circumstance rather than by any party pushing hard for it to happen.
Arsenal need a forward if Gyokeres leaves, Endrick needs football, and Real Madrid are running out of ways to justify blocking a 20-year-old's development while keeping him on the bench behind two players who are clearly ahead of him.
The international break will be decisive: if Endrick's camp come out of their meeting with Real Madrid reassured and with a clearer pathway to minutes, the January story dies and the score drops into Unlikely, but if the meeting produces frustration and the minutes do not follow, the score moves the other way, and quickly.
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