MADRID — Real Madrid says city rival Atletico Madrid has rejected an offer of 150 million euros ($173 million) for Argentina forward Julián Álvarez.
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The offer was part of the campaign promises made by Real Madrid President Florentino Pérez, ahead of his re-election on Sunday.
The 15-time European champion said that, “After reviewing and evaluating the offer, Club Atlético de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player’s release clause.” Spanish media reported that this was 500 million euros ($577 million).
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Real Madrid endured a second straight season without a major trophy.
Also Tuesday, it parted ways with coach Álvaro Arbeloa , who had replaced Xabi Alonso in January. The move sets up the expected return of José Mourinho.
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