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Despite the setback, Manchester City remains optimistic about Alvarez’s potential move to Atletico Madrid. The Spanish club had agreed to a substantial £82m deal for the Argentina international, which would have represented a significant profit for City.

Skysports reported on Monday saying, “As far as Manchester City are concerned, they still expect the Alvarez deal to go through. Atletico agreed to pay £64m (€75m) up front with a further £17m (€20m) of potential add-ons for Alvarez, which would have been a record sale for City and a huge profit on the £14m they paid River Plate for the Argentina forward in January 2022.”

Alvarez has been a key figure for City since his arrival, making 103 appearances and scoring 36 goals. His trophy cabinet includes two Premier League titles, an FA Cup, the Champions League, the Super Cup, and the Club World Cup.

Meanwhile, Chelsea’s transfer activity continues apace. The Blues have already secured the signatures of several players during this window, including Kiernan Dewsbury-Hall, Filip Jorgensen, Omari Kellyman, and Marc Guiu, among others.

The Gallagher situation remains unresolved, with the midfielder completing part of his medical at Atletico last week. Chelsea’s inability to agree on new contract terms with the player has opened the door for his potential departure.

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