How Much Is Real Madrid's Raphael Varane Worth in the Current Transfer Market?

Real Madrid's players stood on and around the edge of their own 18-yard box, awaiting the delivery of a corner from Arda Turan in the first leg of the Champions League quarter-final tie at the Vicente Calderon. Attempting to stir confusion, Turan played it short to Koke, Atletico Madrid's set-piece specialist then flashed a ball across the penalty area. 

Sticking a boot out, Cristiano Ronaldo got a toe on it, pushing it toward Raphael Varane. Skipping the tackle of Mario Suarez, Varane broke free of the congestion. Then he exploded, like this. It wasn't just a sprint; his transonic speed almost created a vapor cone. "Was that Varane?" everyone watching asked of the person beside them, needing immediate clarification. "Centre-backs can't run like that, can they?"

It was one of those moments that was quickly followed by thoughts of the possibilities—what the presence of such an athlete could do for a defence, how such pace could embolden a defensive line, the liberties such speed at the back could give a midfield and how many options such a player could give to a style, a system. 

It wasn't that we hadn't known Varane was fast, we had. It's just we hadn't known he was that fast. Now, if you type his name into the Google search bar, the third suggestion is "Raphael Varane speed." And it's the package that the speed completes that is so tantalising; it comes bundled in with the Frenchman's height, power, strength in the air, recovery abilities and ease on the ball. 

"He is the best young central defender in the world," Jose Mourinho told Yahoo last year, via Sky Sports. France national team coach Didier Deschamps says he "has everything." Carlo Ancelotti labelled him "the future of Real Madrid." Zinedine Zidane did the same. What's more, Varane is 22. Just turned. He represents a kind of new prototype for what a central defender should be.

So, what's he worth? 

Well, a lot. But let's get into the specifics. 

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At just 22, the Frenchman, barring serious injuries, has a decade of elite football ahead of him. Perhaps more, with Chelsea's John Terry standing as a notable example of sustained defensive excellence in his mid-30s.

Varane's contract also boosts his value significantly. Last September, the former Lens star signed an extension at the Bernabeu, tying him to the club until 2020—an important step for Real Madrid. Indeed, last summer, the purchases of James Rodriguez and Toni Kroos were fine examples of how remaining contract periods affect transfer fees: The German, who had just 12 months left to run on his deal at Bayern Munich, arrived for £20 million; the Colombian, with four years left on his agreement with Monaco, arrived for £63 million. 

Naturally, the latter's sparkling World Cup campaign and Real Madrid president Florentino Perez's desire for another Galactico inflated his fee. But still, Varane's value might sit closer to that of Rodriguez than that of Kroos. This is reinforced by some of the recent deals reached for defenders around Europe. 

Last summer, Barcelona spent £15 million on both Jeremy Mathieu and Thomas Vermaelen from Valencia and Arsenal, respectively. The steady Mathieu was 30 when he arrived; the injury-riddled Vermaelen was 28.

In England, Manchester United forked out £27 million on left-back Luke Shaw, while across town, Manchester City outlaid the colossal sum of £42 million to acquire the then-23-year-old Eliaquim Mangala from Porto. But Paris Saint-Germain outdid them all, letting go of £50 million to sign a 27-year-old David Luiz from Chelsea. 

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Are any of those players superior to Varane? Have a better upside? Represent a better long-term investment? It's hard to believe so. 

Certainly, the circumstances of the clubs involved impacted upon the aforementioned fees. United, having endured their worst season in the Premier League era, were in a position where spending big wasn't just an option, but a necessity. City and PSG, meanwhile, represent European football's "nouveau riche," which creates problems when negotiating. 

But these are also the sort of clubs that would have the resources for a player like Varane; any deal for the Frenchman would be impacted upon by the same factors.

So does that make his value £50 million? More? A range of precedents would suggest so, but there's also a problem with such a figure. Last summer, Chelsea paid £32 million for Diego Costa, while Arsenal paid £35 million for Alexis Sanchez. Both men were outstanding, real difference makers. Back in Spain, Barcelona produced £75 million to prise Luis Suarez from Liverpool.

Again, contract periods played a role in those signings, but can Varane really be worth significantly more than a pair of prolific forwards, his value edging somewhere toward that of last summer's biggest deal?

It's why it's difficult to pinpoint a value for Varane. His talent feels limitless, but concurrently there are limits on what constitutes a viable fee for a defender. 

Positively for Real Madrid, however, the club isn't in a position in which it has to genuinely consider what sort of fee it might accept.