Muñoz is one of LaLiga's breakout players this season. The Osasuna attacker, a product of Real Madrid's youth academy and previously Barcelona's, has proven himself more than ready for the highest level in his first year in Pamplona.
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His season form has sparked interest from Barcelona, according to Mundo Deportivo.
Barça are monitoring Munoz, but a move is considered virtually impossible. With a €40m buyout clause, the issue isn't so much the price itself, but rather the fact that Real Madrid still owns 50% of his rights.
Real also holds a buy-back option with three years' worth of payments set at €8m, €9m, and €10m.