Atletico Madrid snap up Ademola Lookman in €40m deadline-day transfer
Nigerian winger Ademola Lookman has completed a high-profile move from Atalanta to Atletico Madrid, with the Spanish giants confirming the signing on Monday, just hours before the close of the 2026 winter transfer window in Europe.
According to renowned transfer expert Fabrizio Romano, Atletico agreed to pay a €35 million fixed fee plus €5 million in add-ons for the 28-year-old Super Eagles star. The deal sees Lookman become the second-most expensive Nigerian footballer in history, behind only Victor Osimhen, whose transfers involving Napoli and Galatasaray exceeded €70 million.
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Lookman has signed a four-and-a-half-year contract with Diego Simeone’s side, keeping him at the Wanda Metropolitano until June 2030. He arrived in Madrid on Sunday to undergo medical examinations after weeks of speculation over his future.
Before Atletico sealed the deal, Lookman had been strongly linked with a move to Fenerbahce in Turkey, while interest from Italy also remained intense.
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The transfer brings an end to a turbulent spell between Lookman and Atalanta. Despite playing a pivotal role in the club’s historic Europa League triumph, scoring a memorable hat-trick in the final, relations between player and club deteriorated in recent months.
In August 2025, Lookman deleted all Atalanta-related posts from his Instagram account in a clear signal of his desire to leave. Atalanta had earlier turned down a €42 million bid plus €3 million in add-ons from Inter Milan, insisting on a €60 million valuation, even though Lookman and Inter were reportedly aligned on personal terms.
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The winger’s frustration saw him delay his return for pre-season and boycott training sessions until mid-September, as negotiations dragged on.
Now settled in Spain, Lookman begins a new chapter in La Liga, where Atletico will hope his pace, creativity and goal threat can bolster their attacking options for the remainder of the season and beyond.
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