Atletico Madrid have finalized the £81.5 million transfer of Manchester City striker Julian Alvarez on a six-year deal.
Diego Simeone’s side will pay an initial £64.4 million (75 million euros), with an additional £17.1 million (20 million euros) potentially earned through add-ons for the Argentina international.
Alvarez’s departure marks a record sale for Manchester City, surpassing the £50 million they received from Chelsea for Raheem Sterling in 2022.
City acquired Alvarez from Argentine side River Plate for £14.1 million in January 2022.
In a statement, Alvarez expressed that Manchester City, where he won six major trophies during his two-year tenure, will always “have a special place” in his heart.
“Today I say goodbye to this amazing club, with a lot of emotion,” he said.
“These have been two very special years. During this time, I have grown and learnt a lot – both as a player and as a person.”
Julian Alvarez won the treble in his debut season with Manchester City and also secured the 2022 World Cup with Argentina midway through that season.
The striker leaves Manchester City having scored 36 goals in 106 appearances. City’s director of football, Txiki Begiristain, described Alvarez as “a pleasure to work with.”
“The trophies he has won already tell their own story – he is a winner,” added Begiristain
“I look forward to watching him develop further in the remainder of his career.”
Manchester City will begin their Premier League campaign with an away match against Chelsea on Sunday.
Atletico Madrid will kick off their La Liga season with an away fixture at Villarreal on August 19.