Atletico Madrid have agreed to an £81.5 million deal to sign Manchester City forward Julian Alvarez. The fee consists of an initial £64.4 million (€75m) with a further £17.1 million (€20m) in potential add-ons.
This deal would be a record sale for Manchester City, surpassing the £50 million Chelsea paid for Raheem Sterling in 2022. Alvarez stated he would wait until Argentina’s involvement in the 2024 Olympics football ended before deciding on his future. The team was knocked out by hosts France last Friday.
City manager Pep Guardiola had been keen to keep the 24-year-old and said earlier in August he “counted” on Alvarez before the start of the season. “I count on him, but he said in the news that decisions will be made all together,” said Guardiola. However, as with Ilkay Gundogan, Riyad Mahrez, and Aymeric Laporte, City will not stand in the way of a player who wants to leave.
Atletico, who have also agreed to sign Chelsea midfielder Conor Gallagher, have yet to agree on personal terms with Alvarez. The Argentine, who joined City in 2022 in a £14.1 million deal from River Plate, has scored 36 goals in 106 appearances for Guardiola’s side. Alvarez won the Treble during his first season at the Etihad and featured in Argentina’s 2022 World Cup victory in Qatar.
Alvarez’s status at Manchester City became an issue after his World Cup win with Argentina in 2022. Despite making 20 appearances, fewer than half were as a starter. With Erling Haaland firmly established as the number nine, Alvarez faced tough competition for a wide berth from players like Phil Foden, Jack Grealish, Jeremy Doku, and Bernardo Silva. His enhanced status made a back-up role untenable in the long term.
Atletico Madrid, a club with Champions League aspirations, presents an attractive alternative for Alvarez. For City, his departure could mean greater involvement for 20-year-old Brazilian newcomer Savinho, who arrived from Troyes for £30.8 million. It might also prompt Guardiola to reinforce a squad aiming to win the Premier League title for an unprecedented fifth successive season.
