Atletico Madrid midfielder Koke was reportedly stopped by a man on a motorbike and ordered to hand over his £70,000 watch at gunpoint.
The incident is said to have taken place at an underground car park in the Chamberi district of the Spanish capital at around 7pm on Thursday evening.
Spanish newspaper El Mundo reports that the 25-year-old was followed into the car park and caught off guard by the thief, who is yet to be caught.
Koke, expected to feature for Atletico in their derby showdown with city rivals Real Madrid on Saturday, was left shaken but unhurt by the incident.
Atleti follow up this weekend's clash against Real with a Champions League quarter-final first-leg tie against Leicester City on Wednesday evening.
