Manchester City will collect a sizeable windfall should Julian Alvarez leave Atletico Madrid this summer. The striker has been the subject of interest from Real Madrid, who have made him a top target following the re-election of president Florentino Perez. Los Blancos had a £130m offer turned down by their city rivals, and it remains to be seen whether they will return with another bid.
Alvarez, currently away at the World Cup with Argentina, left City in 2024 after impressing at the Etihad but failing to secure regular starts through the middle given the quality of Erling Haaland. City sold the forward for £64.4m, and there were several add-ons included in the deal, making the total package worth £81.5m. The Blues have a 10% sell-on clause on any profit should Alvarez move on.
The level of bonuses, and whether those clauses have been met, mean calculating the exact windfall City would receive is difficult, but it is understood the Blues would take home between £4m and £8m should Alvarez leave for €150m. City regularly insert multiple clauses into deals around sell-ons and future successes, while a number of young players depart with matching clauses, meaning City can return with a bid should another club show an interest, as the Blues did with James Trafford last summer.
Alvarez's Achievements and Release Clause
Alvarez, 26, won the Treble in his first season at the Etihad and collected six major honours during his two-year stay in Manchester before becoming the club's record sale. His deal with Atletico contains a €500m release clause.
Real Madrid's Statement
In a statement confirming their bid, Real said: "Following the meeting of the board of directors held today, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarez. After reviewing and evaluating the offer, Club Atletico de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player's release clause."
