Atlético Madrid confirmed the acquisition of Julián Álvarez from Manchester City in a deal reportedly valued at around $104 million, as announced on Monday. The Argentine forward has committed to a six-year contract with the Spanish club.
Initial reports suggest that Atlético will pay $82 million (£64 million) upfront, with an additional $22 million (£17 million) in potential add-ons. CNN has reached out to both City and Atlético for confirmation of the transfer fee. Following the confirmation of his transfer, Álvarez shared his excitement on Instagram, saying, “New challenges, with the same people as always.”
Álvarez joined Manchester City in 2022 after a standout performance with River Plate in Argentina. Over his two seasons with the English club, the 24-year-old made 103 appearances, netting 36 goals and providing 18 assists. He was instrumental in City’s success, contributing to their six major trophies, including the historic treble in the 2022/23 season.
In his farewell message on Instagram, Álvarez expressed his appreciation for City, stating, “I’m saying goodbye to this marvellous club with a lot of emotions.” He reflected on his growth as a player and person, affirming that Manchester City will always hold a special place in his heart.
Álvarez, a key player for Argentina with 36 caps and nine goals, was part of the 2022 World Cup-winning team and two Copa América victories. He will now join Atlético Madrid, wearing the No. 19 shirt under head coach Diego Simeone.
Atlético Madrid has also signed Norwegian forward Alexander Sørloth from Villarreal to strengthen their attacking options. After a challenging previous season, where they finished fourth in La Liga and were eliminated in the Champions League quarterfinals, the addition of Álvarez and Sørloth is expected to bolster the team’s performance for the 2024/25 season. Atlético kicks off its La Liga campaign on August 19 against Villarreal.