Atletico Madrid has finalized the signing of Manchester City striker Julian Alvarez for a fee of £81.5 million. The 24-year-old has signed a six-year contract with the Spanish club.
The deal includes an initial payment of £64.4 million (75 million euros) to City, with an additional £17.1 million (20 million euros) in potential add-ons based on performance-related incentives.
Alvarez’s transfer marks a record sale for Manchester City, surpassing the £50 million fee they received from Chelsea for Raheem Sterling in 2022. City acquired Alvarez from Argentine club River Plate for £14.1 million in January 2022.
Reflecting on his time at City, Alvarez expressed his gratitude, stating that the club will always “have a special place” in his heart. “Today I say goodbye to this amazing club, with a lot of emotion,” he said. “These have been two very special years. During this time, I have grown and learnt a lot – both as a player and as a person.”
During his tenure, Alvarez played a key role in helping Manchester City win six major trophies, including a treble in his debut season. He also celebrated a World Cup victory with Argentina in 2022.
In his two years at City, Alvarez scored 36 goals in 106 appearances. City’s director of football, Txiki Begiristain, commented on Alvarez’s impact, saying, “He has been a pleasure to work with. The trophies he has won already tell their own story – he is a winner. I look forward to watching him develop further in the remainder of his career.”
Manchester City will kick off their Premier League campaign against Chelsea on Sunday, while Atletico Madrid is set to face Villarreal on August 19 in their La Liga opener.
