Atlético Madrid has pulled off a major coup by signing Argentine striker Julian Alvarez from Manchester City in a deal worth up to €85 million ($93 million).

"We are thrilled to welcome Julian Alvarez to the Atlético Madrid family," said Atlético's President, Enrique Cerezo. "His talent, work ethic, and dedication will undoubtedly strengthen our squad and excite our fans."

Alvarez, who has signed a six-year contract, expressed his excitement about joining the Spanish giants. "I'm honored to be part of this iconic club and can't wait to contribute to its success," he said.

The 23-year-old striker's transfer is seen as a significant boost to Atlético's attacking options, following the departure of Álvaro Morata.

"Julian's arrival is a testament to our commitment to attracting top talent and competing at the highest level," added Cerezo.

Manchester City's Director of Football, Txiki Begiristain, praised Alvarez's growth during his time at the club. "Julian has developed significantly, and we're confident he'll excel in La Liga."