Atletico Madrid have completed the signing of Julian Alvarez from Manchester City.
The Athletic reported earlier this month that City had accepted an offer worth up to €95million (£81.8m; $104m) for the 24-year-old Argentine from Atletico, who subsequently agreed personal terms with the forward.
"The club has reached an agreement with Manchester City for the transfer of the Argentine forward, who has signed a contract for the next six seasons," said Atletico in a statement.
Alvarez has signed a five-year contract with the Spanish capital club.
The departure of the Argentina international represents a club-record sale for City and sees them bank a significant profit on the £14m they paid to sign the striker from River Plate in 2022.
Alvarez won two Premier League titles, the FA Cup and the Champions League during his two-and-a-half years in Manchester. The versatile forward made 54 appearances across all competitions for City last season, contributing 19 goals and 13 assists. Alvarez scored 36 goals in 103 matches for the English side.
He also played a crucial role in Argentina’s triumph at the 2022 World Cup in Qatar and has won the Copa America twice. Having represented Argentina at the Copa America earlier this summer, Alvarez was then part of the Under-23 side that was knocked out of the Olympic Games at the quarter-final stage.
The forward joins Atletico after the club sanctioned the departure of Alvaro Morata to Milan, while Memphis Depay left the Spanish capital at the end of his contract.
Alvarez becomes Atletico’s third summer signing after defender Robin Le Normand joined from Real Sociedad and striker Alexander Sorloth moved from Villarreal.
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