The €610m Real Madrid project that has ended in total failure

The €610m Real Madrid project that has ended in total failure

For a club built on pressure, dominance and trophies, the 2025/26 season has become one of deep frustration for Real Madrid.

The disappointment has not only come from missing out on major titles but also from the underwhelming performances of the team’s biggest names.

Supporters expected a squad packed with world-class talent to respond, but the opposite has happened across much of the campaign.

More worrying for many inside the club is the fact that the same problems are now appearing for a second consecutive season.

Naturally, the spotlight has fallen on Kylian Mbappe, Vinicius Jr, Jude Bellingham and Federico Valverde – the four players viewed as the faces of Real Madrid’s current and future project.

The €610m failure

Collectively, the quartet carries an astonishing combined market value of around €610 million, based on figures from Transfermarkt.

Mbappe alone is valued at €200 million, while Vinicius stands at €150 million, Bellingham at €140 million and Valverde at €120 million.

On paper, few squads in world football can compete with that level of individual quality. On the pitch, however, the reality has looked very different.

Despite scoring 41 goals this season, Mbappe has increasingly faced criticism from sections of the Real Madrid support.

While the numbers remain impressive individually, many fans feel his contributions have done little to improve the team collectively during decisive moments.

There is no unity within the Real Madrid dressing room. (Photo by Florencia Tan Jun/Getty Images)

There is a growing belief that the French forward has become disconnected from the overall structure of the side.

Instead of functioning within the team dynamic, Mbappe has often looked isolated, focused more on individual moments than collective responsibility.

What about the rest?

It must be noted that Vinicius still has one year remaining on his current contract and discussions over a renewal remain unresolved.

Although Florentino Perez remains keen to keep him, Vinicius has also attracted criticism for his role during internal tensions surrounding former manager Xabi Alonso.

As for Bellingham, the midfielder has struggled to replicate the level that made him one of Europe’s standout players previously.

Injuries disrupted the start of his season, but even after returning, his performances have remained below expectations.

Lastly, Valverde’s campaign has perhaps been the most disappointing emotionally.

The Uruguayan midfielder has long been viewed as one of the dressing room’s natural future leaders, but this season has exposed visible frustration in his game.

Constantly being used in multiple positions has clearly affected his rhythm, while his altercation with Aurelien Tchouameni became another symbol of the growing tension inside the squad.

For Real Madrid, the biggest concern this season is the feeling that a squad filled with elite talent has failed to develop the mentality, leadership and unity needed to compete at the expected level this season.