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Julian Alvarez has completed his £82m move to Atletico Madrid, becoming Manchester City’s club-record sale.
The World Cup winner will cost Atletico an initial €75m (£64.1m) plus up to €20m (£17.1m) in attainable add-ons, and will become the second most expensive signing in their history, after Joao Felix.
He has signed a six-year contract with the Spanish club after passing a medical in Madrid and becomes Diego Simeone’s second striking signing this summer, joining Alexander Sorloth.
Alvarez scored 36 goals in 103 games in a two-year stay at City, ending last season with 19 goals and 13 assists in 54 appearances.
Manager Pep Guardiola said on Friday the Premier League champions will discuss whether to go into the transfer market to try and replace the Argentinian.
Alvarez thanked them, saying: “Manchester City will always have a special place in my heart. Today I say goodbye to this amazing club, with a lot of emotion.
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.”
City have made a huge profit on the versatile Alvarez, who cost £14m from River Plate in 2022 and who won six trophies in his time at the club.
His departure means City have now made a profit of around £100m in the transfer market this summer, with Savinho the only signing and sales also including Taylor Harwood-Bellis, Liam Delap, Sergio Gomez and Tommy Doyle.
