

Key Takeaways:
- Real Madrid are reportedly planning a €50 million offer for Vasco da Gama’s 19-year-old forward Rayan, raising the competition for Tottenham Hotspur
- Tottenham have conducted in-depth scouting on Rayan, but are proceeding with caution as Vasco da Gama retain strong negotiating power with an €80 million release clause valid until 2028
- Both clubs resume domestic league campaigns this weekend, with Tottenham set to face Liverpool and Real Madrid hosting Sevilla ahead of the Christmas break
European Giants Intensify Race for Rayan
Tottenham Hotspur’s efforts to secure Vasco da Gama prodigy Rayan have encountered a significant hurdle, as Real Madrid are reportedly preparing an offer valued at €50 million (£44m/$59m) for the in-demand Brazilian forward. The 19-year-old has become one of South America’s hottest commodities this season, with leading European clubs turning their attention to his impressive progress.
According to O Dia, Real Madrid’s interest has rapidly gathered momentum. With Endrick expected to depart on loan to Lyon, Rayan is viewed as a potential forward alternative by Los Blancos, who are actively reassessing their attacking unit. The anticipated bid would eclipse the previously circulated €40 million valuation, demonstrating the growing esteem in which Rayan is held across Europe’s elite.
🚨🇧🇷| BREAKING | via: @fichajesnet
Real Madrid are preparing a first bid of €50 million for Vasco’s RAYAN! pic.twitter.com/22AH557NjX
— AllThingsBrazil™ (@SelecaoTalk) December 16, 2025
Tottenham’s Structured Approach and In-Depth Scouting
Tottenham, meanwhile, have refrained from entering immediate negotiations and have instead committed to a thorough analysis of the player. Reports from NT Vascaínos reveal that assistant coach Matt Wells and club scout Alex Fraser have closely examined Rayan’s performances, including his recent display against Fluminense. Their assessments have highlighted his intelligent movement, composure under pressure and high tactical acumen – attributes which align with Tottenham’s long-term vision.
Despite positive internal reports, the north London club are treading carefully. Vasco da Gama recently tied Rayan to a new contract extending to 2028, including an €80 million (£70m/$92m) release clause. This strong contractual position affords Vasco significant leverage in any future transfer negotiations.
Barcelona Maintain an Interested Watch
Barcelona, too, are keeping tabs on the promising forward. Sport reports that sporting director Deco has identified Rayan as a talent of interest for several years, having recommended him when he was only 15. Nevertheless, Rayan remains focused on his current club, with no intention of seeking a January move. His primary objective is to continue developing at Vasco da Gama, where he is benefitting from consistent playing time and growing responsibility. Gaining a place in Carlo Ancelotti’s Brazil squad for next summer’s World Cup is regarded as a key personal aim, after which his European prospects will be reconsidered.
Financial Backing Strengthens Tottenham’s Hand
Tottenham’s confidence has been boosted further by a recent injection of capital from majority shareholders. Earlier this season, the Lewis family trust provided a £100 million equity investment, fortifying the club’s financial base and allowing for a more ambitious approach in the transfer market. Club officials view the investment as crucial for increasing Tottenham’s competitiveness, particularly in the hunt for emerging talents like Rayan.
“We are pleased to announce that our majority shareholder, the Lewis family trust, has, through ENIC Sports & Development Holdings Ltd (“ENIC”), injected £100 million of new capital into the Club,” a statement read on Tottenham’s official website.
“This equity injection will further strengthen the Club’s financial position and equip the Club’s leadership team with additional resources to continue the focus on driving long-term sporting success. This additional capital is part of the Lewis family’s ongoing commitment to the Club and its future.”
Whereas, non-executive chairman Peter Charrington said: “As I stated a few weeks ago, our focus is on stability and empowering the management team to deliver on the Club’s ambitions. I know the Lewis family are also ambitious for the future. Today’s capital commitment reflects that ambition and I would like to thank them for their ongoing support. We will continue to do all we can to ensure that Vinai and his team are supported in the best way possible to take this Club forward.”
Upcoming Fixtures and Transfer Outlook
Tottenham return to Premier League action this weekend with a fixture against Liverpool, while Real Madrid are set to take on Sevilla at the Santiago Bernabéu before the Christmas interval. The competition for Rayan’s signature looks set to intensify as the January window draws closer, with interested parties monitoring Brazil’s new star as the season unfolds.
| Club | Status | Reported Bid/Valuation | Contract Clause (Vasco da Gama) |
|---|---|---|---|
| Tottenham Hotspur | Scouting Stage | Initial €40m (No official bid) | €80m release clause until 2028 |
| Real Madrid | Preparing Offer | Reported €50m Offer | €80m release clause until 2028 |
| Barcelona | Monitoring Interest | No bid reported | €80m release clause until 2028 |




