Atletico Madrid are close to striking a deal with Manchester City to sign forward Julian Alvarez.
Although total agreement has yet to be reached, that is now in sight — with talks at the stage of negotiating the final price and payment structure.
Significant progress has been made since talks began last week and if the proposed move happens, the fee is expected to be at least five times the £14million City paid River Plate for the Argentina international in January 2022.
Alvarez is keen on a move to the Spanish capital and personal terms are not expected to be a problem.
The 24-year-old is among a number of players City have recruited from South America and he would become the latest to depart for a significant profit after achieving vast success.
He has helped them win two Premier League titles, the FA Cup and the Champions League — even though he has largely played second fiddle to first-choice front man Erling Haaland.
Alvarez made 54 appearances across all competitions for City last season, contributing 19 goals and 13 assists. He also played a crucial role in Argentina’s triumph at the 2022 World Cup in Qatar and has won the Copa America twice. He has been capped 36 times for his country.
The developments regarding Alvarez have resulted in Atletico softening their resistance to selling Samu Omorodion and Chelsea are pursuing a deal to recruit the Spanish forward for a fee in the region of €40m (£34.4m).
The south west London club had a €32.5million (£27.4m) plus add-ons offer rejected for Omorodion in June. The 20-year-old spent last season on loan at Deportivo Alaves scoring nine goals and providing one assist to help them to a 10th-place finish in La Liga.
That potential transfer is independent of talks between Chelsea and Napoli regarding separate deals for Romelu Lukaku and Victor Osimhen, which are expected to continue.
David Datro Fofana and Armando Broja are expected to leave Stamford Bridge this summer in permanent moves.
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