In a record deal, Manchester City and Atletico Madrid have agreed an agreement for the transfer of Julian Alvarez, valued at approximately £81m (€95m). The deal, which has been worked out over the past 24 hours, will see Atlético pay an initial fee of £64m (€75m), with an additional £17m (€20m ). This is the highest ever sale for Manchester City and a significant profit on the £14m they initially paid River Plate for the Argentina forward in January 2022.
Alvarez, who has made 103 appearances and scored 36 goals for City since arriving at the Etihad Stadium two-and-a-half years ago, is yet to agree personal terms. However, this is not expected to be a problem. During his tenure at City, Alvarez has won two Premier League titles, the FA Cup, the Champions League, the Super Cup and the Club World Cup, all in 2023. He also played a key role in the victories of the Argentina 2022 World Cup and Copa America.
Alvarez's move to Atletico Madrid could also have implications for Chelsea's transfer activities. Chelsea's deal to sign Samu Omorodion is dependent on Atletico securing a replacement striker, which is expected to be Alvarez. Also, Conor Gallagher remains on hold to fly to Madrid as negotiations between Atlético and Chelsea over Omorodion continue. The proposed fee for Omorodion, a top target for the Chelsea striker, is £35m, similar to Gallagher's (£34m).
The 2024 summer transfer window closes on 30 August at 11pm UK time for the Premier League and 11.30pm in Scotland. The Premier League has brought Deadline Day forward to align with other major leagues in Europe. This decision was made after talks with leagues in England, Germany, Italy, Spain and France.
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