Rafael Obrador has officially transferred from Real Madrid to Benfica for a fee of €5 million. The deal, which includes a buy-back clause favoring Real Madrid, was finalized following negotiations linked to Álvaro Carreras's impending move to Real Madrid. Obrador, a left-back who spent four seasons in Real Madrid's youth system and was recently on loan at Deportivo, is expected to undergo medical tests in Lisbon before signing with Benfica. The transfer is part of a reciprocal agreement that will see Carreras join Real Madrid after the FIFA Club World Cup, with the medical for Carreras anticipated to take place shortly thereafter. Benfica views Obrador as a replacement for Carreras, and the official announcements were made in mid-July 2025.