Nottingham Forest open €15m Javi Rueda talks as Real Madrid stand to profit

Nottingham Forest have opened talks with Celta Vigo over a deal for Javi Rueda, with the Premier League club exploring a move worth around €15 million for the 24-year-old right-back.

The Guardian reports that discussions are ongoing, but no agreement has yet been reached. Forest’s interest comes as they continue to add depth and flexibility to a squad being reshaped late in the transfer window.

Rueda has developed into a regular senior option at Celta after progressing through Real Madrid’s academy system, and his profile gives Forest a player capable of contributing both defensively and in possession from the right side.

The financial structure of the deal adds another layer. Real Madrid are understood to retain a 50 per cent sell-on interest in Rueda, meaning any agreement around the €15 million mark could generate a significant return for his former club without the player moving back to the Bernabéu.

That clause gives Celta a clear incentive to protect their valuation. A €15 million sale would not translate into the full amount remaining with the Galician club, increasing the importance of the final fee and any additional bonuses negotiated with Forest.

For Forest, the move would continue a broader strategy of targeting players with top-flight experience and development value rather than relying solely on established Premier League names. Rueda’s age, tactical flexibility and familiarity with high-possession football make him a fit for that profile.

The deal remains at negotiation stage, and there is no indication yet that a medical has been scheduled or personal terms fully agreed.

But the talks are significant enough to move the story beyond initial interest. Forest are now testing Celta’s position directly, with the final valuation likely to determine whether Rueda becomes another late-window addition — and whether Real Madrid collect an unexpected windfall from the deal.