Julian Alvarez is reportedly set to leave Manchester City for Atletico Madrid, with widespread reports on Tuesday indicating that the English champions will earn a significant profit on the Argentine forward in a deal worth up to €95 million (£81 million, $104 million).
According to transfer insider Fabrizio Romano, the agreement will include €75 million up front, plus an additional €20 million in potential bonuses.
Alvarez joined City for just £14 million from River Plate in January 2022 and has since experienced a rapid ascent in his career. He played a key role in Argentina’s victories at the World Cup and Copa America, in addition to winning two Premier League titles and the Champions League with Manchester City.
After initially returning to River Plate on loan for six months, Alvarez netted 36 goals in two seasons at City, contributing to the club’s historic achievement as the first team to win four consecutive English top-flight titles. Despite his success, he often played a secondary role to Erling Haaland during his time at Manchester.
The record sale will provide City with substantial compensation, but it may compel them to enter the transfer market in the final three weeks of the window to find a backup for the Norwegian striker.
With Alvaro Morata’s departure to AC Milan, Alvarez will be positioned as a central figure in the Spanish capital, where he will have the opportunity to work under compatriot Diego Simeone.
Atletico Madrid is gearing up to compete with Real Madrid and Barcelona for the top spot in La Liga after finishing fourth last season. The club has already bolstered its squad with Euro 2024 winner Robin Le Normand and Norwegian forward Alexander Sorloth.
Additionally, Chelsea’s Conor Gallagher is reportedly close to finalizing a £33 million move to Atletico, having traveled to Madrid to complete the transfer.
