What happened: Villarreal are waiting on Rayo Vallecano coach Iñigo Pérez to become their next head coach, per Fabrizio Romano. Pérez is the clear favorite and ready to take over, but wants to focus on Rayo's Conference League final first out of respect for his current club. Villarreal have already secured Champions League qualification for next season.

Why it matters: The appointment would mark a major step up for Pérez, who has built his reputation at Rayo with a possession-oriented style and a deep run in Europe. For Villarreal, locking in a young Spanish coach aligns with the club's project as they return to the Champions League. The timing — waiting on a final — signals professional courtesy that should preserve goodwill across both dressing rooms.

What to watch: Watch for an official announcement once Rayo's Conference League final concludes. Any rival bid or counteroffer from another club could accelerate Villarreal's timeline.