Julian Alvarez set to leave Man City to join Atletico Madrid. Deal could be worth more than $100M

Argentina striker Julian Alvarez is heading to Atletico Madrid from Manchester City in a deal reportedly worth more than $100 million after telling Pep Guardiola he wanted a new challenge following two successful years at the English champions.

Guardiola said Friday there is an agreement between both clubs for the transfer of Alvarez, who is the first-choice striker for his country but wasn't at City.

“If you are not happy, why should you be here?” Guardiola said. “When you believe happiness is around another corner, you have to go there to take a look.”

City could get up to 95 million euros ($104 million) for the 24-year-old Alvarez, who joined from Argentine team River Plate in 2022 for 14 million pounds (now $17.8 million).

He helped City win the Premier League in both of the seasons he was in England, as well as the Champions League and the Club World Cup.

Alvarez, however, was behind Erling Haaland in the pecking order of strikers and was often a substitute.

“We have won everything together … he was incredible, and there’s an incredible love from the team for his behavior,” Guardiola said. "But like I said many, many times about the players, if he wants to leave, (he can have) a new challenge. Atletico Madrid is a top, top club in Spain and Europe.

“When they suggest to me through the club that they want to leave, it's OK if you want to leave. Imagine staying here if he doesn’t want to stay? But at the same time, we have to reach an agreement with both clubs. It has happened, both clubs are happy and we wish him all the best.”

Guardiola said Alvarez told him he “feels there is work he needs to do.”

“Last season he played a lot, some moments he played with Erling as well,” Guardiola said. “But I understand in certain moments, important moments, maybe he thought he wasn’t going to play. I respect it a lot.”

Asked if City would be replacing Alvarez in the squad ahead of the new season, which starts next week, Guardiola said: “I don’t know yet. We talk every day, we see what happens.”

City's only signing in this transfer window is Brazil winger Savio.

City will play Manchester United on Saturday in the Community Shield, the traditional curtain-raiser to the English season between the Premier League winners and the FA Cup winners.

United beat City in the FA Cup final.