Done Deal: Atlético Madrid Beat Fenerbahçe to Sign Lookman for €40m

Ademola Lookman is officially on his way to Atlético Madrid after the Spanish giants finally secured his signature in a hard-fought transfer battle.

For weeks, the Nigerian forward’s future hung in the balance as Fenerbahçe and Atlético Madrid went head-to-head.

The Turkish club pushed aggressively, tabling a lucrative salary package worth €8.5 million net per season plus add-ons, and even reaching an agreement with Atalanta on a €40 million fee. However, their proposal stalled over unresolved payment terms and bank guarantees, leaving the deal incomplete.

Atlético, by contrast, moved decisively. They struck a full agreement with Atalanta on both the €40 million fee and the payment structure, presenting a watertight offer that gave them the upper hand. Fabrizio Romano reported on Sunday morning that Atlético had “won the race,” with Lookman himself giving the green light to a long-term contract after making his decision late Saturday night.

The Spanish club are now preparing for the Nigerian forward’s travel and medical, marking the final steps before he is unveiled in Madrid.