Manchester City agree transfer fee with Atletico Madrid for Julian Alvarez | OneFootball

Premier League champions Manchester City have now agreed a transfer fee and overall package with Atletico Madrid for Julian Alvarez.

The Argentina international has been weighing up his options alongside work from his representatives throughout the course of the summer, despite remaining on duty with his national team until late last month.

Competition at Copa America and the Paris Olympic games means Alvarez will now have a late start to the season but take on a minimum of three weeks’ rest having started his campaign in early August 2023.

But that late start will not take place at Manchester City, after the Premier League champions reached a total agreement on a transfer fee and payment structure with Atletico Madrid on Tuesday morning.

The Spanish club have been the most intent on securing the signature of Julian Alvarez this summer, despite competition from Paris Saint-Germain and interest in the player’s situation from English top-flight side Chelsea.

Manchester City and Atletico Madrid have now reached an agreement over an initial €75 million transfer fee, which could rise to €95 million through a further €20 million in potential add-ons being included in the deal, City Xtra understand.

The sale of Alvarez to Atletico Madrid means that the 24-year-old becomes Manchester City’s most expensive ever signing, and represents a remarkable amount of profit for Etihad Stadium officials just two-and-a-half years after signing the player from River Plate.

The deal between Manchester City and Atletico Madrid is also the first piece of business involving the two clubs since the former secured the signing of Rodrigo from the Spanish capital during the summer of 2019 via a £62.6 million release clause.

Julian Alvarez is also completed the pathway made by an Argentine striking legend in Sergio Aguero, after the now-retired Manchester City hero made the switch to the Etihad Stadium from Los Rojiblancos in 2011.

It remains to be seen whether Manchester City return to the transfer market this summer in search of a replacement for Alvarez, either in the attacking roles or through personnel and the addition of a new name elsewhere in the squad.