Atletico Madrid has agreed to an £81.5 million deal to sign Manchester City forward Julian Alvarez. The transfer fee includes an initial £64.4 million (€75 million) and an additional £17.1 million (€20 million) in potential add-ons, making it a record sale for City, surpassing the £50 million Chelsea paid for Raheem Sterling in 2022.
Alvarez will make his decision after Argentina’s involvement in the 2024 Olympics, where they were recently knocked out by hosts France.
Although Pep Guardiola was keen to keep the 24-year-old, City will not stand in the way of players who wish to leave, as seen with Ilkay Gundogan, Riyad Mahrez, and Aymeric Laporte.
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Atletico, who are also negotiating to sign Chelsea midfielder Conor Gallagher, has yet to agree on personal terms with Alvarez.
The Argentine joined City in 2022 for £14.1 million from River Plate, scoring 36 goals in 106 appearances. Reports suggest that Atletico’s decision to reconsider selling young striker Samu Omorodion to Chelsea for approximately £34.4 million has allowed them to aggressively pursue Alvarez.
Atletico had previously rejected a £27.4 million bid for Omorodion in June, but that deal is now back on track and could be finalized soon. Meanwhile, Gallagher is expected to travel to Spain for a medical after approving the move.
