Atletico Madrid have completed the £81.5m signing of Manchester City striker Julian Alvarez.

Diego Simeone’s Spanish side will pay an initial £64.4m (75m euros) with a further £17.1m (20m euros) in potential add-ons for the Argentina striker.

The deal is a record sale for City, eclipsing the £50m they received from Chelsea for Raheem Sterling in 2022.

They paid Argentine side River Plate £14.1m for Alvarez in January 2022.

More to follow.