Alvarez's push to leave Atletico could earn Man City up to £7m via sell-on clause

Julian Alvarez has declared he wants to leave Atletico Madrid this summer, opening the door to a transfer that could deliver a financial windfall for former club Manchester City through a sell-on clause embedded in his 2024 sale.

Real Madrid confirmed earlier this month that they had submitted a €150m (£130m) offer for the Argentine striker, only for Atletico to reject it outright, pointing to the player’s £431m release clause — a figure that runs until 2030. Barcelona have also been linked with an interest, while Arsenal’s name has been mentioned in connection with the 26-year-old.

Alvarez addressed his future directly after Argentina’s 2-0 win over Austria at the World Cup. “I don’t think this is the right time to talk, but I can’t hide either,” he told reporters. “I try to be an honest person. I’ve spoken with the people at the club, with those I needed to speak to. I think a transfer is the best solution for everyone, and I want to fulfil my dream.”

City sold Alvarez in 2024 for £64.4m — a fee that could rise to £81.5m with add-ons — after it became clear Pep Guardiola could not guarantee him the minutes he wanted, with Erling Haaland firmly established as the club’s first-choice striker. The Blues, however, negotiated a sell-on clause worth an estimated 10 per cent of any profit Atletico make on a future sale.

Should a deal at around the £130m mark be agreed, City are expected to receive somewhere between £4m and £7m, depending on which performance-related clauses in the original contract have been met. If Atletico’s full £431m release clause were ever triggered, City’s share could climb to between £34.95m and £36.6m.

Alvarez has made an immediate impact in Madrid since his arrival, scoring 29 goals in his debut season for Simeone’s side and following that up with 20 in all competitions last term. Despite his strong club form, he has started both of Argentina’s World Cup matches so far from the bench and is yet to score in the tournament, with the reigning champions having progressed to the knockout stages.