Spanish media are reporting a blockbuster story in European basketball: Pedro Martínez is on the verge of becoming Real Madrid’s next head coach.
Major developments are unfolding in Spain, with a coaching change that could reshape the European market and, in turn, the EuroLeague landscape.
Let’s start from the beginning.
Over the past two seasons, the 65-year-old Martínez built something special in Valencia. The Spanish club reached the 2025 EuroCup Finals, lifted the 2025 Spanish SuperCup and returned to the EuroLeague (2025-2026) with serious momentum.
That momentum carried Valencia all the way to the Final Four at Telekom Center Athens, where Martínez’s project proved to be a complete success. His team played modern, up-tempo basketball, consistently looked to attack within the first eight seconds of the shot clock, defended at a high level and knocked Panathinaikos AKTOR out of the EuroLeague Playoffs. At the same time, he helped several young players blossom into stars, including Jean Montero, Brancou Badio and Jaime Pradilla.
That remarkable campaign earned Martínez the 2026 EuroLeague Coach of the Year award, before Valencia capped off the season by winning the Spanish League title after defeating Barcelona in the Finals.
And that’s where the story takes another turn.
During the same season, Real Madrid reached the EuroLeague Final but lost to Olympiacos before suffering an early exit in the Spanish League playoffs. A coaching change had been looming for days, as the post-Sergio Scariolo era appeared increasingly inevitable. Florentino Pérez had already initiated sweeping changes within the club’s management, making the split with the Italian coach only a matter of time.
Over the past few days, Spanish media linked Dimitris Itoudis, Ergin Ataman and Giannis Sfairopoulos with the Real Madrid job. That remained the picture until Monday night (June 29).
Then came the bombshell.
According to Marca, Real Madrid are now pushing to appoint Pedro Martínez as their new head coach, with a three-year contract already on the table.
Martínez’s contract with Valencia includes a €1 million buyout clause, which Real Madrid are prepared to trigger immediately. According to reports in Spain, negotiations between the 65-year-old coach and the club are already at an advanced stage, while the proposed three-year deal would be worth between €2.7 million and €3.6 million in total (€900,000 to €1.2 million per season). Meanwhile, Sergio Scariolo’s departure is expected to become official on Tuesday (June 30), following a scheduled meeting with Real Madrid’s front office.
One way or another, European basketball is in for another major shake-up. Real Madrid are set to put their faith in last season’s EuroLeague Coach of the Year, handing him the keys as they look to reclaim their place on top of Europe.
At the same time, Valencia are cashing in on a series of buyouts—but the financial return may not make up for what they are losing on the court. Within a matter of weeks, Real Madrid are set to appoint Pedro Martínez (€1 million) and are also targeting Jaime Pradilla (€1.5 million), Olympiacos are signing Jean Montero (€600,000), while Panathinaikos are bringing in Brancou Badio (€1.5 million).
If all four moves are completed, Valencia will collect more than €4.5 million in buyout fees. However, they will also be forced into the market to replace both their head coach and several of the team’s key figures, triggering an abrupt and painful rebuild.
Last but not least, reports from Valencia-based outlets claim that Martínez has already informed club owner Juan Roig about Real Madrid’s offer, adding that Valencia are expected to make a last-ditch attempt to convince him to stay. However, Marca maintains that the deal is all but done, with only the final details left to be settled before Martínez officially takes over on the sidelines at Movistar Arena.
