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Manchester City have agreed to sell Julian Alvarez to Atletico Madrid for a fee rising to €95m.
The Argentinian is yet to agree personal terms with the Spanish club but they are not expected to be a problem.
Alvarez’s fee – of an initial €75m plus €20m in add-ons – will make him City’s record sale, potentially amounting to £82m, and a vast profit on a player they signed for just £14m from River Plate.
City had hoped to keep the World Cup winner but recognised that he was their second-choice centre-forward when Erling Haaland is available.
Alvarez nevertheless started 31 league games last season, when he also operated in midfield, and scored 36 goals in 54 appearances.
Over two seasons at City, he struck 36 times in 103 matches, winning six trophies, including two Premier League titles and the Champions League.
He is set to become the second striker Atletico have signed this summer, following Alexander Sorloth, as manager Diego Simeone rebuilds his attack after the departures of Alvaro Morata and Memphis Depay.