Atletico Madrid have reached an agreement with Manchester City for the transfer of striker Julian Alvarez in a deal potentially worth up to €95 million, according to The Athletic.
Pending the finalization of personal terms, Alvarez is expected to complete his move to Spain this summer, marking a record sale for the Premier League club.
According to The Athletic, the clubs were finalizing the price and payment structure of the deal, which will end the 24-year-old forward’s two-and-a-half-year tenure in Manchester.
Alvarez joined Manchester City from River Plate in January 2022 for €17 million (£14 million) and extended his contract last March until 2028.
He will become Atletico’s third summer signing, following the arrivals of Robin Le Normand from Real Sociedad and Alexander Sorloth from Villarreal.
The La Liga club also maintains a strong interest in Chelsea midfielder Conor Gallagher, who has turned down two new contract offers in recent months.
Last season, Alvarez made 54 appearances for City across all competitions, contributing 19 goals and 13 assists.
He played a key role in helping Pep Guardiola’s team secure the Premier League, Champions League, and FA Cup titles in 2022-23, making City only the second English team to achieve the treble.
Alvarez was also instrumental in Argentina’s victory at the 2022 World Cup in Qatar and has won the Copa America twice. He has earned 36 caps for his national team.
He represented Argentina in the men’s soccer tournament at the Paris Olympics, providing two assists as the team reached the quarter-finals before being eliminated by hosts France.
Manager Pep Guardiola had been keen to keep the 24-year-old, and earlier in August, the Spaniard stated that he ‘counted on’ Alvarez for the upcoming season.
“I count on him, but he said in the news that decisions will be made all together,” said Guardiola.
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