Atletico Madrid has agreed to sign Manchester City forward Julian Alvarez for £81.5 million.
The deal includes an initial fee of £64.4 million (75 million euros) and up to £17.1 million (20 million euros) in potential add-ons.
Alvarez, who recently finished representing Argentina in the 2024 Olympics, has been a key target for Atletico.
He had planned to decide on his future only after the Olympics, but with Argentina’s recent exit from the tournament, his transfer is gaining momentum.
Manchester City manager Pep Guardiola had expressed a desire to keep Alvarez, highlighting his importance for the upcoming season.
Despite this, City has a history of accommodating transfer requests, as seen with players like Ilkay Gundogan, Riyad Mahrez, and Aymeric Laporte.
Atletico Madrid has also reached an agreement to sign Chelsea midfielder Conor Gallagher but has yet to finalize personal terms with Alvarez.
This move is a significant investment for Atletico and could set a new record for Manchester City, surpassing the £50 million Chelsea paid for Raheem Sterling in 2022.
Julian Alvarez joined Manchester City in 2022 from River Plate for £14.1 million. Since then, he has made 106 appearances, scoring 36 goals and contributing to City’s success. In his first season, Alvarez played a key role in City’s Treble win and was part of Argentina’s 2022 World Cup victory.
Despite these achievements, Alvarez has often been a secondary option behind Erling Haaland.
He is reportedly seeking more regular playing time, which Atletico Madrid is expected to provide. With his impressive trophy collection, Alvarez aims to take on a more prominent role in a team where he can be central.
The completion of this transfer will be closely watched as it could impact the dynamics of the upcoming season for both Atletico Madrid and Manchester City.
