Transfer Update: Fenerbahçe, Atletico Madrid Circle Ademola Lookman as Atalanta Hold Firm

Fresh updates have emerged regarding Fenerbahçe’s move for Atalanta forward Ademola Lookman, with negotiations still hanging in the balance as the January transfer window edges toward its close.

According to renowned transfer expert Fabrizio Romano, Atalanta are yet to agree on the payment terms and conditions proposed by the Turkish giants, despite a verbal agreement on a €40 million package already being in place. While the valuation appears settled, the structure of payments remains the major stumbling block.

Adding another twist to the saga, Atletico Madrid have now entered the picture. The Spanish LaLiga side has reportedly made enquiries in recent hours to understand the deal conditions for the Nigerian international, setting the stage for a possible late transfer battle.

This is not the first time Lookman has been linked with a move away from Bergamo. The Super Eagles star came close to leaving Atalanta last summer but eventually stayed put. Since then, his stock has only risen, particularly after his impressive performances for Nigeria at the 2025 Africa Cup of Nations in Morocco, where he played a key role in the team’s third-place finish.

With the January transfer window set to close this weekend, it remains uncertain whether Lookman will make the switch or continue his journey with Atalanta for the rest of the season.

Opinion: Lookman Holds the Cards in a Career-Defining Moment

Ademola Lookman’s situation perfectly captures the power shift that comes with form and consistency. At 26, he is no longer a prospect — he is a proven match-winner at club and international level. Atalanta’s reluctance to rush into an agreement suggests they understand his value, while the late interest from Atletico Madrid underlines his growing reputation across Europe.

For Lookman, this decision could be career-defining. Fenerbahçe offers a starring role and immediate impact, while Atletico Madrid represents elite competition and Champions League ambition. Either path has its appeal, but timing is crucial. A hurried January move without the right sporting project could stall momentum built over the last two seasons.

Ultimately, whether he moves now or waits until summer, one thing is clear: Ademola Lookman is no longer chasing opportunities — opportunities are chasing him. The coming days will reveal whether Atalanta cash in or hold on to one of their most valuable assets just a little longer.