Real Madrid president Florentino Perez wasn't actually known for his pragmatism the first time around.

When he was in charge of the club in the early 2000s during the Galacticos era, Perez took style over substance, and the star-studded Madrid sides often underperformed because they were so unbalanced.

Real Madrid don't jump into transfers Now, Perez's approach did pay dividends because of the star power he brought to the Bernabeu, but it is no coincidence that Real Madrid is a much more powerful club in the 2010s and 2020s in the presi's second stint in charge, given the lessons he learned from his initial failures.

Perez's pragmatic, sustainable approach has allowed Real Madrid to obtain the highest level of success in the Champions League despite minimizing their net spend.

One of the key tenants to his strategy has been avoiding unnecessary transfers, which he has further cut down on in recent years after making a few ill-advised, knee-jerk additions around the time of Cristiano Ronaldo's departure to Juventus.

Key to this has been an avoidance of winter transfer moves. Most of the best players are unavailable in the January market, because selling a key player will destabilize a squad.

Real Madrid have defensive needs Transfer fees for winter moves are therefore inflated, because a selling team will want to make extra money in order to be convinced to sell someone mid-season.

Every year, Real Madrid fans look at the state of their team and wonder how it can be improved. Usually, Madrid are slow starters, and while they have been better than Barcelona in 2023/24, the Blaugrana did win LaLiga last season, putting more pressure on Madrid in 2023/24.

Further, Los Blancos aren't actually in first despite besting their direct rivals, because Girona are in the league lead.

Real have suffered severe injuries, losing the best goalkeeper and best center back in the world right as the season started.

Elite clubs must prioritize patience Replacing those players is impossible, though Madrid did acquire a quality goalkeeper in Kepa Arrizabalaga to be a veteran presence alongside Andriy Lunin.

Madridistas, however, have valid concerns at center back and would like some help there, too. They did not sign a center back after Eder Militao's injury, leaving them to rely on veterans who have been up-and-down in 2023/24, especially the usually-solid David Alaba.

But Real mostly need a center back who has starting-quality for an elite club and can change the club's fortunes alongside Militao for several years. They are not going to find that player in the winter, barring an unforeseen circumstance, with Sporting CP's Goncalo Inacio being the main target.

It may be tempting for Real Madrid to buck tradition and go for a big-name veteran this winter at either striker or center back to fill an area of need, but with patience, they can land better options.

On the striker front, they did sign Endrick as an investment last winter for the 2024/25 season when he is 18 and ready for the top flight.

Patience is important to building a sustainable project that competes every season. One bad signing can undo some of that. Two or three can be devastating.

Real have their philosophy and approach, and it serves them well, even if it is risk-averse. At this stage, they are so strong every season that playing it safe is best, even if it frustrates fans used to always winning.

Former editor of The Real Champs and Old Juve, covering Real Madrid and Juventus

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