Benfica confirms Mourinho will join Real Madrid for €15 million if Florentino Pérez is re-elected on Sunday

The conditional deal

Sport Lisboa e Benfica informed the Portuguese Securities Market Commission (CMVM) on Thursday that the candidacy of Florentino Pérez for the Real Madrid presidency has expressed a "firm intention" to hire manager José Mourinho. The move is contingent on Pérez defeating rival candidate Enrique Riquelme in the club election scheduled for Sunday, 7 June 2026. If Pérez secures another term, Real Madrid will pay €15 million to Benfica, the full value of the release clause in Mourinho's current contract.

Sport Lisboa e Benfica – Futebol, SAD informs that the candidacy of President Florentino Pérez for the Real Madrid CF elections has expressed the firm intention of hiring coach José Mário dos Santos Mourinho Félix should he win the elections for the presidency of that club, scheduled for 7 June 2026.

The clause that doubled

Until 30 May, ten days after the end of the Portuguese league season, Mourinho's release clause stood at €7 million. Once that date passed, the figure doubled to €15 million. The delay, tied to the electoral calendar, means the Spanish club will pay the higher amount if Pérez is re-elected. Benfica, as a publicly traded company on the Lisbon stock exchange, is legally required to disclose all material financial operations, prompting Thursday's communication.

Mourinho's return after 13 years

Mourinho previously managed Real Madrid between 2010 and 2013, winning three trophies. His return would come after a turbulent season in which the club was led first by Xabi Alonso and later by Álvaro Arbeloa. Pérez sees the Portuguese coach as the figure to rebuild the squad. On Wednesday night, Pérez's campaign released a short video on social media showing Mourinho in a Real Madrid shirt saying "Sí," accompanied by the caption "MOUcha historia por hacer" (a play on "much history still to be made").

The coaching market context

Transfers involving managers for fees above €10 million remain rare. In November 2024, Sporting Lisbon sold Rúben Amorim to Manchester United for roughly €11 million, a move that ended with Amorim dismissed a year later and receiving over €19 million in compensation. The record remains Julian Nagelsmann's move from RB Leipzig to Bayern Munich in April 2021 for approximately €25 million, ahead of Graham Potter's €24 million switch from Brighton to Chelsea in September 2022.

What happens next

Pérez, who served as Real Madrid president from 2000 to 2006 and again from 2009 until calling early elections weeks ago, remains the favourite with broad backing from club legends. If he loses to Riquelme on Sunday, the agreement with Mourinho will not be activated. Portuguese reports name Marco Silva as the leading candidate to take over at Benfica should Mourinho depart for Madrid.