Julian Alvarez is leaving Manchester City for Atletico Madrid in an £81.5m deal

Atletico Madrid have confirmed the signing of striker Julian Alvarez from Manchester City.

The LaLiga club have paid an estimated £81.5million for the Argentinian, who has signed a six-year contract.

It makes it a record sale for City, surpassing the £50m they received from Chelsea for Raheem Sterling in 2022.

Alvarez, 24, has impressed despite playing a second game to Erling Haaland during his two years at City but has moved on in search of regular first-team football.

“Today I am saying goodbye to this wonderful club, I am very sad,” he told the club's website.

“These have been two very special years. During this time, I grew and learned a lot – both as a player and as a person. “

Alvarez won six major trophies during his two years at the Etihad, as well as the 2022 World Cup and 2024 Copa America with Argentina.

City director of football Txiki Begiristain said Alvarez “has been a pleasure to work with”.

“The trophies he has won already tell their story – he is a winner,” added Begiristain.

“I look forward to seeing him progress through the rest of his career.”

🕷️ Welcome, Araña! ❤️🤍 pic.twitter.com/a0G7MBh8iE

– Atlético de Madrid (@atletienglish) August 12, 2024

Statistics by Julian Alvarez

City signed Alvarez for €17m (£14.1m) in January 2022 from Argentinian side River Plate, where he remains on loan, starting at the Citizens in July 2022.

He produced 17 goals and five assists in 49 appearances for City in his first campaign. In the second, Alvarez struck out 19 times and scored 13 goals.

Alvarez was a near-miss for City in the 2023/24 league until mid-February but started just two of the ten Champions League games, playing a total of 33 minutes over two legs against Madrid.

Having played just 17 minutes in their last three Premier League games – scoring twice – Alvarez was unused as City clinched the title on the final day of the season against West Ham United.

The 2021 South American Footballer of the Year was not directly involved in any FA Cup goals after the third round of City's campaign and played 34 minutes in their surprise 2-1 defeat to Manchester United in the final.

City will face Manchester United in the Community Shield on Saturday (3pm). Their Premier League season begins at Chelsea on August 18 (4.30pm), with their first home game against Ipswich Town six days later (3pm).