Atletico Madrid have agreed a deal in principle to sign one of Africa’s biggest stars in a deal worth nearly £40m.

Diego Simeone’s side are on the cusp of signing Atalanta and Nigerian forward Ademola Lookman on a long-term deal.

Lookman has been on the market following a fallout with the Italian club last year but has remained professional with high-quality performances through the 2025-26 campaign.

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🚨🔴⚪️ Ademola Lookman to Atlético Madrid, here we go! The agreement is in place on every detail.

€35m fixed fee, €5m add-ons to Atalanta and long term deal agreed by Lookman after decision last night.

Atlético, planning now for travel and medical next for the Nigerian. 🇳🇬 pic.twitter.com/soAS1eVVJZ

— Fabrizio Romano (@FabrizioRomano) February 1, 2026

Turkish giants Fenerbache were close to pulling off the deal after offering favourable wage demands and higher transfer fee but Atletico were determined to get their man and matched the offer.

The deal will cost in the region of £40m including add-ons.

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