Rayo Vallecano has signed Colombian playmaker James Rodriguez as a free agent, bringing him back to La Liga four years after leaving Real Madrid. Rodriguez, who was named player of the tournament at the 2024 Copa America, had his contract with Sao Paulo terminated before joining Rayo. The 33-year-old's signing marks a significant addition to the club during its centennial season. Additionally, Rayo Vallecano is reportedly considering signing Dutch forward Memphis Depay, who is currently a free agent after leaving Atletico Madrid, and may make space by selling Spanish striker Raul De Tomas.