Atletico Madrid have completed the £81.5m signing of Manchester City striker Julian Alvarez on a six-year deal.

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 24-year-old’s departure 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.

Alvarez said City – where he won six major trophies during his two-year stay – will always “have a special place” in his heart.

“Today I say goodbye to this amazing club, with a lot of emotion,” he said.

“These have been two very special years. During this time, I have grown and learnt a lot – both as a player and as a person.”