Atletico Madrid to Sign Julian Alvarez for £81.5 Million

Atletico Madrid has reached an £81.5 million agreement to acquire Manchester City forward Julian Alvarez. This deal includes an initial payment of £64.4 million (75 million euros) with an additional £17.1 million (20 million euros) in potential add-ons, making it Manchester City’s record sale surpassing the £50 million Chelsea paid for Raheem Sterling in 2022.

Alvarez, who stated he would decide his future after Argentina’s involvement in the 2024 Olympics, saw his team eliminated by hosts France last Friday. Despite Manchester City manager Pep Guardiola expressing his intention to keep the 24-year-old and counting on him for the season, City is willing to let Alvarez go, following a pattern seen with previous departures like Ilkay Gundogan, Riyad Mahrez and Aymeric Laporte.

Atletico Madrid, which has also secured a deal for Chelsea midfielder Conor Gallagher has yet to finalize personal terms with Alvarez. The Argentine forward, who joined Manchester City in 2022 from River Plate for £14.1 million, has scored 36 goals in 106 appearances. He played a key role in City’s Treble-winning season and contributed to Argentina’s 2022 World Cup victory.

Alvarez’s departure could benefit Atletico, a club with Champions League ambitions, and might open opportunities for Manchester City’s 20-year-old Brazilian recruit, Savinho, who arrived from Troyes for £30.8 million. The move could also prompt Guardiola to strengthen his squad as City aims for an unprecedented fifth consecutive Premier League title.