Fenerbahçe have stepped decisively into the January 2026 transfer market, moving ahead of rivals Galatasaray in the chase for Atalanta winger Ademola Lookman, one of Europe’s most coveted wide forwards this winter.
The 28-year-old Nigerian international is currently on AFCON duty, where his stock has risen again after a match-winning start to the tournament.
His club form, however, has dipped just enough to tempt suitors.
That contrast has opened the door for Fenerbahçe, who have already lodged formal offers while Galatasaray weigh financial and dressing-room realities.
Born in London on Oct. 20, 1997, Lookman switched international allegiance to Nigeria and has grown into one of Africa’s most decisive attackers.
After early spells at Charlton Athletic and Everton, and loans across Germany and England, his career found clarity at Atalanta in 2022.
The peak came in 2023-24.
Lookman delivered 17 goals and 10 assists across competitions, capped by a historic hat trick in the UEFA Europa League final against Bayer Leverkusen.
The performance sealed Atalanta’s first major European trophy and earned Lookman the 2024 CAF African Footballer of the Year award.
This season has been quieter in Serie A.
Lookman has scored twice in 11 league appearances, adding one goal and one assist in the Champions League.
Across all competitions, he has three goals and one assist in about 16 matches.
Underlying numbers suggest mild underperformance rather than decline, and Atalanta remain convinced of his value.
Transfermarkt lists him at 35 million euros ($41 million), with a contract running until June 2027.
Fenerbahçe have moved fastest and hardest. Turkish and Italian reports indicate multiple structures on the table, including a six-month loan with an option to buy clause around 35-37 million euros, or a higher structured deal approaching 42 million euros.
Other sources point to a straight bid closer to 25 million euros, with add-ons under discussion.
The Istanbul club see Lookman as a statement signing, a player capable of tilting title races and European nights.
With Atalanta known for extracting full value, recent sales have set that precedent, Fenerbahçe are banking on timing, ambition and flexibility rather than discounts.
Galatasaray remain interested, and earlier reports suggested Lookman was open to a move, even verbally accepting a lucrative package reportedly worth around 9 million euros net per year.
The fit is obvious: pace, vertical threat and Champions League pedigree.
Momentum slowed, though, after a heated exchange between Lookman and Galatasaray striker Victor Osimhen during Nigeria’s AFCON round-of-16 win over Mozambique.
The clash was publicly brushed off as “just football,” but it added an awkward layer to negotiations already strained by wages and Atalanta’s refusal to entertain soft loan terms.
With significant salary commitments already on the books, Galatasaray may need sales or creative add-ons to reach Atalanta’s valuation.
Atalanta’s stance is clear: permanent deal, full value. There is no confirmed release clause, and little appetite to bargain despite Lookman’s modest domestic numbers.
Interest from elsewhere, including the Premier League, lingers in the background, but Turkish clubs currently dominate the race.
