Vinícius's current deal runs until June 2027, giving the club and player a further year before the situation becomes critical. Both sides have publicly stated they are calm. But the contract has not been signed, and with Saudi Arabia and Premier League clubs maintaining a watching brief, the absence of an announcement has fed persistent speculation.
Pérez addressed it head-on.
"If Vinicius doesn't want to be at Real Madrid and wants to sign with another club, he is free to do so. I'm not going to force him into anything. Money will not be the most important factor — it never has been."
He was dismissive of suggestions that Vinícius was pricing himself out of a renewal.
"They say he's asking for too much money, but that's a lie."
On the quality that makes the Brazilian indispensable, the president was unambiguous.
"He helped us win the last two Champions Leagues. You know who doesn't appreciate him? Those who aren't Real Madrid fans."
He also rejected the suggestion that Vinícius and Kylian Mbappé are incompatible within the same system: "That's absurd. They are the two best players in the world."
Vinícius himself has spoken in similarly measured terms, telling CazeTV earlier in the week: "I am not in a rush to renew my contract. I have a contract until 2027. We have a great deal to discuss with Madrid, and Madrid has a great deal to discuss with us. Real Madrid is calm, and I am calm."
The underlying tension, however, is real. ESPN reported that talks stalled after Vinícius's camp felt a verbal agreement had not been honoured by the club's hierarchy, with bonuses omitted from the formal offer. The player is currently earning approximately €17 million net per year and is believed to be seeking a significant step up in that figure.
Vinícius scored 22 goals and contributed 14 assists across all competitions this season for a Madrid side that finished trophyless — their second successive campaign without a major title.