By Atletico Madrid have reached an agreement with Manchester City for the transfer of forward Julian Alvarez in a deal potentially worth £81.5 million. The proposed fee structure includes an initial £64.4 million (75 million euros) with a further £17.1 million (20 million euros) in potential add-ons, setting the stage for a record-breaking sale for the Premier League champions.
If completed, this transfer would surpass Manchester City’s previous record sale of Raheem Sterling to Chelsea in 2022 for £50 million. However, the deal’s completion hinges on Alvarez’s decision, which he has stated will come after Argentina’s involvement in the 2024 Olympics football tournament. The Argentine team was recently knocked out by hosts France, potentially expediting the process.
The 24-year-old striker, who joined City in 2022 for £14.1 million from River Plate, has been a valuable asset for Pep Guardiola’s side. With 36 goals in 106 appearances, Alvarez played a crucial role in City’s Treble-winning season and was part of Argentina’s 2022 World Cup-winning squad.
Guardiola had expressed his desire to retain Alvarez, stating earlier in August that he “counted” on the player. However, Manchester City has a history of not standing in the way of players who wish to leave, as seen with previous departures like Ilkay Gundogan, Riyad Mahrez, and Aymeric Laporte.
Atletico Madrid, who have also agreed to a deal for Chelsea midfielder Conor Gallagher, are yet to finalize personal terms with Alvarez. The Spanish club’s interest in the Argentine forward underscores their ambition to strengthen their squad for domestic and Champions League competitions.
For Manchester City, Alvarez’s potential departure could open up opportunities for other players. The club’s recent £30.8 million signing, 20-year-old Brazilian Savinho from Troyes, might see increased involvement in the first team. Additionally, this transfer could prompt Guardiola to further reinforce his squad as City aims for an unprecedented fifth consecutive Premier League title.
Alvarez’s situation at Manchester City has been complex since his World Cup triumph with Argentina in 2022. Despite his talent, he faced stiff competition for playing time, particularly in the striker position dominated by Erling Haaland. The move to Atletico Madrid could offer Alvarez a more prominent role and regular starting opportunities.
