Atletico Madrid have struck a deal with Atalanta to sign Nigeria forward Ademola Lookman, outmaneuvering Turkish heavyweights Fenerbahçe and Galatasaray in a late-window move that reshapes the European transfer landscape.

Atletico confirmed Sunday that the 28-year-old had arrived in Madrid to undergo a medical and finalize contract terms.

While the Spanish club did not disclose financial details, sources close to the negotiations said the agreement is worth 35 million euros ($41.5 million), with performance-based add-ons pushing the total package toward 40 million euros.

The transfer ends weeks of speculation that heavily involved Türkiye’s two biggest clubs.

Fenerbahçe appeared closest to landing Lookman, advancing deep into talks with Atalanta and proposing what would have been a club-record deal, including an eye-catching personal package.

Galatasaray also monitored the situation as part of their aggressive push to reinforce for domestic and European competition.

But negotiations stalled. While the overall figures were comparable to Atletico’s offer, Atalanta favored the Spanish club’s payment structure and guarantees, allowing Diego Simeone’s side to swoop in decisively during the window’s final days.

For Atletico, Lookman represents a major attacking reinforcement following several January departures.

His arrival adds pace, directness and proven end product to a side pushing for silverware while preparing for a Champions League knockout playoff against Club Brugge.

Atletico sit third in LaLiga, 10 points behind leaders Barcelona, and view Lookman as a player capable of making an immediate impact.

Lookman’s rise has been one of Europe’s most compelling stories.

Since joining Atalanta from RB Leipzig in 2022, he has flourished in Serie A, scoring freely and cementing his reputation as a big-game player.

His defining moment came in the 2024 Europa League final, where his hat trick against Bayer Leverkusen delivered Atalanta’s first European trophy and snapped Leverkusen’s 51-match unbeaten run.

It was a historic performance, only the sixth hat trick ever scored in a European club final and the first since 1975.

Born in London, Lookman began his professional career at Charlton Athletic before moving to Everton in 2017.

Despite flashes of promise, consistent opportunities proved elusive in the Premier League and Bundesliga, leading to loan spells at RB Leipzig, Fulham and Leicester City.

His career pivoted decisively in Italy, where Atalanta provided the platform for his breakout.