Madrid, 13 August 2024 (PA Media/dpa/MIA) — Atletico Madrid have completed the signing of Julian Alvarez from Manchester City on a six-year contract, the Spanish club announced on Monday.

The deal is understood to be worth over $103 million in total, amounting to a record sale for City.

It represents a significant profit on a player signed from River Plate for £14 million ($18 million) and underlines manager Pep Guardiola’s willingness to let unhappy players leave.

Alvarez enjoyed astonishing success in his debut 2022-23 season for City. By Christmas of that season he was a world champion with Argentina and went on to win the treble of Premier League, FA Cup and Champions League with his new club, who retained the English top-flight title last season.

Alvarez told City’s website: “Today I say goodbye to this amazing club, with a lot of emotion.

“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 team-mates, 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.”