Atletico Madrid has officially announced the transfer of Alvaro Morata from Chelsea. The Spanish striker will continue on loan at Atletico for the coming season, with the transfer to become permanent in 2020/2021.
Chelsea loaned Morata to Atletico in early 2019 for a fee of £7 Million but due to the transfer ban imposed by FIFA, requested that the player returns to Stamford Bridge early in order to force Atletico’s hand, either give him back or activate the buy out clause.
Atletico decided to activate the transfer clause and paid £50 million to make the transfer permanent.
📝 | Agreement with @ChelseaFC over the transfer of @AlvaroMorata from July 1, 2020. The striker will play at our club on loan this season and the move will become permanent ahead of the 2020-2021 season
👉 https://t.co/dX4mI5Nxgw#AúpaAtleti pic.twitter.com/rpU8Tex0S3
— Atlético de Madrid (@atletienglish) July 6, 2019
This deal is the second massive transfer for Atletico this summer following the purchase of 19-year-old Joao Felix from Benfica for a whopping 126 million euros.
Despite the transfer ban, this is good business for Chelsea, Morata was not a success in West London and from a financial perspective, Chelsea will be very satisfied.