Atlético Madrid signed striker Julián Álvarez from Manchester City on Monday in a deal reported to be worth up to 85 million euros (US$93 million).
"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 Atlético in a statement.
Spanish reports say Atlético will pay 75 million euros for the forward, with potentially 10 million more in bonuses.
The 24-year-old arrived at City for just £14 million (16 million euros) in January 2022 from River Plate, winning two Premier League trophies and the Champions League among other silverware.
"The move brings to an end a hugely successful two-year stay at the Etihad [Stadium] for the Argentine striker who joined City from River Plate in 2022," said the English club in a statement.
The club praised his "predatory instinct in front of goal, allied to fine awareness and vision alongside a ferocious work ethic."
"Everyone at Manchester City wished Julian the very best of luck as he embarks on the next stage of his career," concluded the statement.
Álvarez also helped Argentina lift the World Cup trophy in December 2022 and the Copa América in 2021 and 2024.
"Today I say goodbye to this amazing club, with a lot of emotion," Álvarez told City's club website.
"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."
“To the directors and the technical staff, thank you for your confidence and support. Your teachings and vision have helped me to develop so much.
“To my teammates, thank you for every moment we have shared, for the effort and dedication in every training session and every match. I have learnt a lot from each and every one of you and I remain with memories and friendships that will last forever," he added.
“To the fans, thank you from the bottom of my heart for the great support and for making me feel at home from the very first day. I will always be extremely proud to have been part of this family," he continued.
“Manchester City will always have a special place in my heart. I wish you every success in the future and I will keep on supporting the club wherever I may be.”
Álvarez scored 36 goals for City in 103 appearances across all competitions.
"He's incredibly loved by the team for his behaviour but like I said many times for many players, he wants to leave and have a new challenge," said Manchester City coach Pep Guardiola last week.
Diego Simeone's Atlético have also signed Robin Le Normand and Alexander Sorloth as they reinforce heavily to compete with Real Madrid and Barcelona, following a disappointing fourth-place La Liga finish last season.
Atlético begin the new campaign with a visit to face Villarreal on August 19.
Álvarez's transfer makes him the second-most expensive Argentine player in history, following fellow ex-River star Enzo Fernández's 121-million-euro move from Benfica to Chelsea.
Martínez commits to Inter
Álvarez's international teammate Lautaro Martínez has committed his future to Inter Milan after signing a new contract which keeps him with the Serie A champions until 2029.
"FC Internazionale Milano can confirm that an agreement has been reached to extend Lautaro Martinez's contract. The 1997-born forward has put pen to paper on a deal lasting until 30 June 2029," said Inter in a statement issued Monday
Argentina striker Lautaro will reportedly earn a net salary of nine million euros (US$9.8m) per season after renewing a deal which was set to expire in two years' time.
Inter president Giuseppe Marotta said last month that Lautaro had already agreed to sign his new contract but that the club would wait until he returned from post-Copa América holidays to announce it.
Lautaro was key to Argentina retaining the Copa America, netting five times including the only goal in the final triumph over Colombia.
International glory for the 26-year-old came after he helped power Inter to their second Serie A title in four seasons, finishing their triumphant campaign a whopping 19 points ahead of local rivals AC Milan.
The Inter skipper topped the scoring charts with 24 goals in 33 league appearances, eight strikes ahead of his nearest rival Dusan Vlahovic.
Lautaro confirming his intention to stay at Inter is a huge boost for a club which headed into the close season in uncertain mood after a sudden change in ownership.
Investment fund Oaktree took control of Inter just days after they won their 20th league crown, when previous owners Suning defaulted on repayment of a loan which matured at 395 million euros.
However Oaktree have opted for continuity rather than revolution since ousting ex-president Steven Zhang and Chinese conglomerate Suning, under whom Inter won seven trophies, including two Serie A titles, and reached two European finals.
Coach Simone Inzaghi extended his contract with Inter to 2026 this month, while star midfielder Nicolo Barella signed a new deal until 2029 ahead of Euro 2024.
Inter begin their league title defence at Genoa on Saturday.
– TIMES/AFP
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