Atletico Madrid has agreed a deal with Manchester City worth an initial €75million (£64m) for Julian Alvarez, which will see him leave Manchester City just two-and-a-half years after his arrival from River Plate in 2022.
The striker’s hefty fee could rise as high as €95m (£81m) with performance-based add-ons.
Although the English champions were keen to keep hold of the Argentina star, Alvarez is believed to be motivated by a move to increase his playing time.
Diego Simeone has been one of Alvarez’s most ardent admirers, but the 24-year-old had previously attracted interest from a host of top clubs, including Premier League rivals Chelsea.
But Atletico’s interest ramped up in recent days, with the club even, according to the Daily Mail, mulling the possibility of including Joao Felix as a makeweight in a bid to get the transfer over the line.
City had previously held an interest in the Portuguese forward which pre-dates his loan spell at Chelsea in 2023.
Although Alvarez ended the season as one of the City players with the highest number of minutes, the player was open about his desire to get involved in high-stakes clashes.
“Last season, I was one of the players with the most minutes at City. But… in the end, you don’t like being left out of important matches; you want to contribute,’ he said.
“I’ll take my time to think about what I want for myself. We will see after the Games. First, if I can, I will take a few days off. Then we will decide.”
Atletico’s move for Alvarez is the latest move in what has been a busy week of business for the LaLiga side, with the club in the process of bringing Chelsea midfielder Conor Gallagher to the Spanish capital for £33.7m.
Arsenal have joined Chelsea in the race to sign Julian Alvarez, according to HITC.
The 24-year-old striker has been heavily linked with an exit from Manchester City this summer, with Erling Haaland undroppable from the starting lineup.
The report states that Mikel Arteta sees Alvarez as the ‘perfect’ frontman for the Gunners.
HITC add that the Premier League champions want an initial £60m for the Argentina international’s signature, plus £17m in add-ons.
Manchester City have reportedly slapped a £77million price tag on Julian Alvarez.
The 24-year-old played in 36 league games last season but was used to cover a variety of positions rather than as City’s first-choice in his preferred striking role.
He remains tied down until the summer of 2028 but it seems he is looking for a way out ahead of the new campaign.
Alvarez is keen to leave City having been left frustrated by his recent playing time, according to The Athletic. It is also said that he would welcome a move to a warmer climate, a view shared by the family members who have followed him to England.
The forward has been linked with a host of clubs around Europe so far this summer, but Pep Guardiola’s side are refusing to let the Argentina international depart cheaply.
According to The Athletic, Alvarez wants to leave the Etihad Stadium outfit but will only be granted his exit wish if City receive an offer of £60m plus a further £17m in add-ons.
Atletico Madrid have been pushing to sign Alvarez this summer but are unwilling to meet City’s asking price.
Alvarez may also have an option to remain in the Premier League as reports in Argentina claimed last month that Chelsea were considering a move.
