
This deal will result in Alvarez leaving Manchester City just two and a half years after his transfer from River Plate in 2022.
The contract includes performance-based add-ons that could increase the total value of the transfer to €95 million (£81 million). These additional payments are contingent on Alvarez meeting specific performance milestones or contributing to the team's success in certain ways.
Although Manchester City was keen to retain Alvarez due to his potential and contributions, the player is reportedly motivated by the opportunity for increased playing time at Atletico Madrid. This move is seen as a chance for Alvarez to play a more prominent role and gain more regular first-team experience.
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