Diego Simeone’s Atletico Madrid rarely waste time once a target is identified, and their admiration of Ademola Lookman is no different.

The Rojiblancos have begun negotiations for Lookman, whose stock has soared since he arrived in Bergamo three seasons ago.

According to Transfermarkt, the 2024 CAF Player of the Year struck 20 goals across all competitions last season and famously recorded a hat‑trick in the Europa League final, propelling Atalanta to their first major European trophy the previous season.

Atletico coach Simoene believes Lookman could fit straight into either flank of his 3‑5‑2 formation as he plans to challenge Barcelona and Real Madrid for major honours.

Crucially, Lookman is under contract until 2027, granting Atalanta the leverage to demand a sizable fee, but Atletico’s smooth working relationship may shave vital euros off any final agreement.

Competition, however, is fierce for Lookman.

Barcelona, fresh from the disappointment of losing Nico Williams to Athletic Bilbao’s renewal, have revived internal discussions around Lookman’s name.

Meanwhile, newly crowned Serie A champions Napoli view the Super Eagles forward as the ideal successor to Khvicha Kvaratskhelia after his departure to Paris Saint-Germain.

Such interest is hardly surprising as Lookman averaged a direct goal contribution every 117 minutes in Italy last term, eclipsing most wingers in Europe’s top five leagues.

Napoli can offer Champions League football and relative tactical continuity, while Barcelona can promise a global spotlight.

Atalanta has reportedly set a €40‑50 million valuation for Lookman, but Atletico’s transfer purse is not limitless, Mundo Deportivo reports.

Club CEO Miguel Angel Gil Marin has earmarked the bulk of the summer budget for Tottenham centre‑back Cristian Romero, another €60 million‑plus move.

If Spurs refuse to budge, Atletico may redirect funds fully toward Lookman, yet they remain determined not to be drawn into a bidding war.

Barcelona’s well‑documented Financial Fair Play restraints complicate any outright cash offer, potentially forcing a structured deal with players in exchange.

On the other hand, Napoli’s finances are buoyant after their Scudetto win, but president Aurelio De Laurentiis is notoriously shrewd and may wait for Atalanta to soften their stance late in August.

Arsenal, watching developments from North London, would prefer Real Madrid’s Rodrygo should he become available, making their Lookman interest more contingent than concrete.

Earlier, reported that Lookman is expected to leave Atalanta this summer, and an Italian football expert has warned one of the interested clubs to desist from signing the Super Eagles star.

Italian football expert Marcelo Altamura has warned Napoli against signing the reigning African Footballer of the Year and should instead look at other options.

Source: Legit.ng