Several high-earners are set to leave the club when their contracts expire at the end of this month and Antonio Rudiger and Aurelien Tchouameni have both been signed.
Whether they bring in more players, like a striker to offer an alternative to Karim Benzema, is largely dependent on how much deadwood they can shift this summer.
This includes the likes of Luka Jovic and Mariano Diaz.
Other players who could depart are Marco Asensio and Dani Ceballos.
Madrid enjoyed a fine 2021/22, winning La Liga with four games to spare and going on an incredible run in the Champions League before beating Liverpool in the final in Paris.
Their ambition for next season will be more of the same – a stronger, leaner squad with some superb additions. They look a very good bet to retain their crown.