After Finalizing Julián Álvarez Signing, Atlético Madrid Means Business

Atlético Madrid is making moves. To challenge their La Liga rivals, Los Colchoneros could spend over €150 million ($164 million) on player transfers this window. Spearheading the investments is goalscorer Julián Álvarez, the shiny arrival set to cost Atleti around €95 million ($104 million) with add-ons; it makes him the priciest recruit in Europe this summer.

Indeed, after touching down in the Spanish capital, signing a five-year contract, and first donning the red and white stripes, former Manchester City striker Álvarez—being presented in Spiderman style after his nickname La Araña—is now officially a Rojiblancos player. He will soon join his teammates before the side’s opening La Liga game against Villarreal next Monday.

More statement signings add extra clout. Despite not having quite the same grandeur as World Cup and Premier League winner Álvarez, Alexander Sørloth, purchased from Villarreal, is an accomplished forward in his own right, having just missed out on the Pichichi—awarded to the Spanish top-flight’s leading scorer—last season. Drafting in defender Robin Le Normand and midfielder Conor Gallagher (not yet confirmed) addresses other areas of the lineup.

Commercially, Atlético doesn’t hold the revenue potential of Real Madrid and Barcelona. However, it can justify such investments in upmarket talents. The modern 70,460-seater Cívitas Metropolitano stadium—which also hosts concerts—is a money-maker year after year. It’s also welcomed wealth from Saudi Arabia, with its main sponsor, Riyadh Air, reportedly paying the side €40 million ($44 million) annually. In addition, a capital injection of just under €79 million ($85 million) in June showed Atlético, striving to build on a fourth-place league finish, wanted to assemble a competitive squad.

As for performances, constantly qualifying for the Champions League has been a steady earner, too, and will make Atlético and the other 35 participants over €18 million ($20 million) this time. Still, there is a sense of urgency to rejig the pack. Go-to striker Álvaro Morata is now at AC Milan. For all his finesse, the versatile Antoine Griezmann is not getting younger. And the exiting Çağlar Söyüncü, Gabriel Paulista, Stefan Savic, and Saúl Ñíguez have left gaps to plug in the roster.

All the while, rival clubs’ transfer activity has prompted a response in the market. Leveling up, reigning champ Real Madrid has bolstered its attack with Kylian Mbappé and Endrick. Despite its financial limitations, Barcelona has snapped up playmaker Dani Olmo and is trying to register him. Girona, the other club to finish above Atleti last term, has been busy this window but will struggle to maintain its standards after losing stars Artem Dovbyk, Savinho, and Aleix García.

Regardless of competitors, there will be pressure on coach Diego Simeone and his team to deliver. The last time Atleti went full throttle on new stars was in 2019/20, leading to a famous championship victory in 2020/21. During that window, João Félix came in for a club record €126 million ($138 million), and the Portuguese forward has been hit and miss. It’s been a similarly rocky road for Thomas Lemar, its second most expensive arrival to date at €72 million ($79 million), entering the season prior.

Will splashing out on signings work on this occasion? Such is the ever-changing picture at the top, and with Simeone the same face leading every season, Forbes’ 13th most valuable soccer entity probably had to spend heavily or risk sleepwalking into La Liga adrift from the pack. While the whole squad has to perform, all eyes will focus on Álvarez and Sørloth; they can provide the firepower to threaten Real’s dominance. There may be even more names through the door before August 30.