Argentina striker Julian Alvarez is set to join Atletico Madrid from Manchester City in a deal reportedly worth more than $100 million. He expressed a desire for a new challenge after two successful years at the English champions, leading to an agreement between both clubs for the transfer.

City could receive up to 95 million euros ($104 million) for the 24-year-old Alvarez, who was behind Erling Haaland in the striker pecking order at City. Guardiola confirmed the move, expressing support for Alvarez's decision to seek a new challenge at a top club like Atletico Madrid.

Guardiola also mentioned that Alvarez felt there is more work he needs to do and respected his decision to leave. As City prepares for the new season, the team's only signing so far in the transfer window is Brazil winger Savio.

City will face Manchester United in the Community Shield, following their loss to United in the FA Cup final. The new season is set to kick off next week.