Man City transfer news, The LaLiga side are set to pay up to €95 million ($104m) for the Argentina striker, according to Fabrizio Romano.
The transfer saga surrounding the Argentine picked up a head of steam in no time. On Monday, his representatives flew to Europe to discuss a possible move away from Man City after the player was unhappy with his game time.
It would be a club-record sale for Man City, who are set to pocket as much as €95m, with the 24-year-old paid €70m upfront and a further €25m available in bonuses.
Alvarez must now finalize personal terms with the Madrid giants, although this is not expected to be a major issue. Football Transfer understands he is keen on a move to Spain and favors a move to Atletico over other destinations.
On Tuesday, a deal had already been agreed that would see the World Cup winner and Copa America champions exit. According to David Ornstein of The Athletic and reports elsewhere, Atletico Madrid have agreed a deal with Man City.
