How Real Madrid's 'glamour' gives them a transfer advantage despite changing financial landscape

At Jude Bellingham's unveiling as a Real Madrid player following his initial £88.5m move from Borussia Dortmund, one quote stood out more than any other.

"It was a bit of a surprise when my dad sat me down and said: 'You've had a bit of interest from Real Madrid'," said the 20-year-old midfielder.

"I had goosebumps, my heart was close to stopping. It's something you don't expect growing up - being able to play for a team like this."

Bellingham has joined talented young players Eduardo Camavinga, Vinicius Junior and Aurelien Tchouameni in helping propel the club into the next generation. France striker Kylian Mbappe, widely regarded as the world's best player right now, is expected to join them next year.

Real Madrid are no longer the biggest player in the transfer market, but why do they remain such a force?

"Madrid know how glamorous the club is and they are able to use that, but I've seen it with Barcelona as well," Dermot Corrigan, Spanish football journalist for The Athletic, tells BBC Sport.

"It has always been the case that foreign players, if they could choose where they wanted to go, the big two in Spain have been a step above in terms of stature and the self esteem of the players themselves, the very elite.

"A decade ago when El Clasico [Real Madrid against Barcelona] was [Lionel] Messi v [Cristiano] Ronaldo, Pep [Guardiola] v [Jose] Mourinho, it was kind of like the world select. The World XI would come out and it would be like a Madrid/Barca combined team.

"For the players who did manage to sneak in, like Gareth Bale or Luis Suarez, the next step for them was Real Madrid or Barcelona, who at that stage paid better than the Premier League.

"Now, Paris St-Germain, Manchester City, Manchester United, we'll see about Newcastle, are financially stronger than both."

'There's a mystique, a glamour'

Across two terms, Real president Florentino Perez has broken the world transfer record five times to sign Luis Figo, Zinedine Zidane, Kaka, Cristiano Ronaldo and Gareth Bale.

Other superstars such as Brazilian striker Ronaldo, David Beckham and Eden Hazard signed for huge fees during what became known as the 'Galactico' era, with marketing a central point to their approach.

Michael Owen and Jonathan Woodgate also moved there, risking comfortable Premier League careers just to experience playing for Real Madrid, a club which has now won 35 La Liga titles and 14 European Cups.

"There's a sense of status," Corrigan continues. "For Bellingham, his earliest memories are probably that era with Mourinho, whereas Bale will remember Ronaldo and Zidane. The financial level of the team has changed but there is still a mystique, a glamour.

"You have a good chance of winning the Ballon d'Or and the Champions League, which you don't get at other clubs."

There has been a change of approach, though, on and off the pitch. Perez remains keen on the biggest names, but is instead looking to strike for players who are running down their contracts as well as persuading the best prospects with all they can achieve.

"Madrid had a reputation from 20 years ago for spending crazy money on the flashiest players, but they learnt from experience," Corrigan says. "They got Thibaut Courtois on a cut-price deal from Chelsea because he ran his contract down, David Alaba on a free, [Antonio] Rudiger as well.

"They all get well paid, but they could get paid better elsewhere. Madrid are good at keeping in touch with agents, but using the allure of the club to let players know of the opportunities, getting to play in Madrid, winning trophies and all the sponsorships that can come from it as well."

Bellingham could become the most expensive British player ever with add-ons included in his contract

It is hard to say 'no' to Real Madrid

Bellingham scored on his debut for the club in a 2-0 win at Athletic Bilbao last week, so his start to life in Madrid could not have been better.

But what of the future? Mbappe is earmarked, and Corrigan says the club believes no rival is safe when their interest is piqued.

"There's not many people who turn down Real Madrid," he concludes. "Did Erling Haaland? That depends on whether you talk to people around Manchester or Madrid.

"In Madrid there is a feeling that if they pushed out the boat they'd have got him, but they are saving money for Mbappe, who is Florentino's number one target.

"They didn't push as hard as they might for Haaland and they might get him in the future.

"When Madrid come calling, it is very difficult for clubs to keep their players."