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Istanbul club Fenerbahce has reportedly missed out on signing Nigerian forward Ademola Lookman, with Spanish side Atletico Madrid emerging as the frontrunner in the final days of the winter transfer window.
According to Italian sports journalist Fabrizio Romano, Atletico reached a verbal agreement with Lookman’s club Atalanta for a fee of €40 million ($47.41 million), matching Fenerbahce’s offer but securing the advantage through a superior salary package and the direct involvement of head coach Diego Simeone.
While the Turkish club had been seen as a strong contender for the player, Atletico’s intensified efforts, including Simeone’s personal role in talks, proved decisive in convincing Lookman to opt for the La Liga side, Romano suggested.
Lookman had been seeking a move since last summer, when a proposed deal with Inter Milan fell through. Atalanta’s stance softened this window after acquiring Italian forward Giacomo Raspadori from Atletico Madrid.
The improved relations between the two clubs in the wake of that deal reportedly facilitated negotiations for Lookman’s exit.
The 28-year-old has faced a challenging domestic campaign this season amid reported internal tensions with club management, recording just three goals and two assists across 19 appearances for Atalanta.
Peaking at €60 million ($71.12 million) in the summer of 2025, Lookman’s transfer value has since dropped to around €35 million amid a decline in performance this season, according to Transfermarkt.
However, his form at the 2025 Africa Cup of Nations (AFCON) has drawn fresh attention.
Lookman scored three goals and provided four assists, helping Nigeria secure third place in the tournament.
In the 2024/25 club season, Lookman had delivered stronger results, notching 20 goals and seven assists across Serie A and the UEFA Champions League.
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