Julian Alvarez, a Manchester City forward, has agreed to join Atletico Madrid for a reported £81.5 million.
The initial payment of £64.4 million (75 million euros) and any future add-ons of £17.1 million (20 million euros) comprise the charge.
It would be a sale record for City, exceeding the £50 million Chelsea spent in 2022 on Raheem Sterling.
Alvarez declared that he would make his decision about his future until after Argentina’s football participation in the 2024 Olympics concluded. Last Friday, the hosts, France, eliminated the team.
The 24-year-old’s manager, Pep Guardiola, had expressed a desire to hold onto him, saying earlier in August that he “counted” on Alvarez before the season began.
“I count on him, but he said in the news that decisions will be made all together,” said Guardiola.
But, as has been the case in the past with Ilkay Gundogan, Riyad Mahrez and Aymeric Laporte, City will not stand in the way of a player who wants to leave.
Atletico, who have also agreed a deal to sign Chelsea midfielder Conor Gallagher, are yet to agree personal terms with Alvarez.
The Argentine, who joined City in 2022 in a £14.1m deal from River Plate, has scored 36 goals in 106 appearances for Guardiola’s side.
Alvarez won the Treble during his first season at the Etihad and the striker featured during Argentina’s 2022 World Cup victory in Qatar midway through the campaign.
