After a quiet start to the summer spent clearing dead wood, the Rojiblancos have stunned the football world with several exciting signings
Just a couple of weeks ago, Atletico Madrid's proposed move for Girona striker Artem Dovbyk collapsed, resulting in the Ukrainian joining Roma instead. "Atletico is a great club," the player's agent, Oleksiy Lundovsky, told on July 26, "but we didn't see a serious project for Artem there."
The supporters didn't either. After a frustrating 2023-24 campaign that promised much but delivered little, Atleti's fan base had been promised a revolution at the Metropolitano, an exciting overhaul of Diego Simeone's squad that would transform the team into Spanish title challengers.
And yet as the end of July approached, Atleti had yet to sign a single player. Fast-forward two weeks, though, and the Rojiblancos are suddenly looking like the big winners of the summer transfer window after a sensational spending spree.
Robin Le Normand and Alexander Sorloth have already joined from Real Sociedad and Villarreal, respectively, and they will soon be joined in Madrid by England international Conor Gallagher and World Cup winner Julian Alvarez.
So, how have Atletico made this happen? And is Simeone's side now a legitimate threat to Real Madrid's hopes of a successful title defence?
Getty ImagesDevastation in Dortmund
Last season's Champions League exit hit Atletico hard, as it effectively ended their season. Worse still, a semi-final spot had been there for the taking, after being drawn against Borussia Dortmund in the last eight.
BVB had obviously proven their worth by winning the tournament's 'Group of Death' and Simeone repeatedly flagged the threat posed by the German side. However, Atleti were rightfully installed as the favourites to progress, given they'd overcome 2023 runners-up Inter in the round of 16 and they created more than enough chances to have put the Dortmund tie to bed in the first leg at the Metropolitano.
In that sense, the quarter-final clash rather summed up the Rojiblancos' entire campaign: impressive at home but dreadful away; profligate in attack but vulnerable at the back. Indeed, a side renowned for their defensive diligence shipped 68 goals last season – the highest tally of Simeone's 13-year tenure.
Advertisement(C)Getty ImagesFIFA's cash cow
There was, however, one silver lining on an otherwise depressing night in Dortmund. Barcelona's Champions League elimination on the same evening ended the Catalans' hopes of pipping Atletico to a place in next year's money-spinning FIFA Club World Cup, with mere participation set to earn the Rojiblancos at least €50 million (£43m/$55m).
A more immediate financial boost arrived last month, with a new share issue by the club's owners resulting in an additional €70m (£60m/$76m) in funds. Atletico have also been very effective in recent weeks clearing some of the dead wood at the Metropolitano.
(C)Getty ImagesOmorodion windfall
While the fans were frustrated by the lack of new arrivals during the first month of the summer transfer window, the club managed to reduce their wage will by some €50m by allowing the contracts of Vitolo, Gabriel Paulista, Memphis Depay, Mario Hermoso and Stefan Savic to expire, as well as selling Caglar Soyuncu (€8.5m) and Alvaro Morata (€13m).
The hope is that a new – and, more importantly, permanent – home can be found for Joao Felix, the grossly unpopular club-record signing that has repeatedly failed to convince anyone else that he's worth buying.
It will also be worth keeping an eye on Antoine Griezmann. The French forward may have been Atleti's best attacker last season, but incessant links with a move to MLS side LAFC have only intensified in recent days and he could well be sold, given the 33-year-old's contract expires next summer.
What we do know for sure is that Atleti are on the verge of banking a staggering €40m (£34m/$44m) from selling Samu Omorodion to Chelsea – less a year after signing him from Granada for only €6m (£5m/$7m) and without him having played a single game for the club.
(C)Getty ImagesRight to get rid
Of course, Morata's exit drew most attention, given he scored 21 goals last season and had just captained Spain to victory at Euro 2024. However, the cold, hard truth is that Morata will not be missed. He's never been a reliable finisher and was dreadful for the majority of the second half of the season, netting just twice from February on. Simeone even took him off at half-time in the Dortmund defeat, which perfectly illustrated his rapidly decreasing confidence in the centre-forward.
So, while Morata may have been Atleti's second-highest goal-scorer last season, he was also their second-highest-paid player. Selling him to Milan was unquestionably the correct call, then, and €13m (£11m/$14m) was a decent fee for an inconsistent 31-year-old striker.