The latest is that terms have been settled between City and Atletico Madrid. A medical has been booked for Monday. And at the time of writing, Atleti were organising a private jet to fly Alvarez from Manchester to Madrid on Sunday. It's done. Alvarez is now effectively an Atletico Madrid player to the tune of €80m. A good price for City, sure. But with only weeks left this summer market, it's obvious they've been caught out.
For his contribution. For his impact. Alvarez's departure will hurt City. As he said himself, the Argentina striker was among the players manager Pep Guardiola turned to most last season. Except, that is, for the decisive games. Alvarez had not started any of five major finals during his two years at City, despite being the fifth-highest in terms of minutes played these past two seasons.
“Last season," stated Alvarez before the Olympics tournament kicked off, "I was one of the players with the most minutes at City. But... in the end, you don't like being left out of important matches; you want to contribute.”
In other words, this sale will leave a void. A huge void in Guardiola's season planning. Particularly in attack. For City, it really is now threatening to become: if not Erling Haaland, then who?
To put it clearly, in attack, City are short. With Alvarez now packing his bags, in terms of recognised strikers, it's Haaland... and that's it. There's nothing in reserve. There's nothing coming through the U21s. Indeed, you do wonder if Liam Delap jumped too soon. The young striker leaving City and signing a five-year deal with Prem new-boys Ipswich Town three weeks ago. In terms of young reserve strikers at City, just as with Haaland and the seniors, Delap was it.
An error by Txiki Begiristain? Poor planning from Ferran Soriano? On the face of it, it looks as much. This column has long championed the work of City's front office, but they've been caught out here. No replacement lined up. Nothing coming through the youth system. As we say, if Haaland breaks down, where does this leave the team...?
Even Guardiola's response to Alvarez's initial admission that he could force a move didn't suggest any type of concern. Indeed, the impression offered was the opposite. The Catalan sounding like he was confident Txiki would be able to talk Alvarez around.
“I don't think about replacing (him). I knew he said he will think about it,” said Guardiola, suggesting his soon-to-be former striker was just letting off steam. “Once he has finished thinking, his agent will call Txiki (Begiristain) and we will see what happens.
“I know he wants to play important moments, yeah. But the other ones (do) too. 18, 19 players as well want to play the big games.
“I read he wants to think about it. Okay, think about it and after that he will inform us what he wants to do.”
Arrogance? Disregard? You don't want to accuse Pep of such things, but something clearly broke between player and manager. Why did he wait? Why didn't Guardiola get on the phone immediately upon learning of Alvarez's complaints and clear the air? Ditto Txiki and Soriano?
This sale leaves the champions weaker. Those minutes. The 19 goals and 13 assists Alvarez produced last season. They're going to have to be replaced. But how? From where? City should be scrambling. As we've stated in past columns, for this team, for this era, competing for the league title isn't enough. They should be fighting for the Champions League. But with one senior striker? It's difficult to see how they'll navigate all their commitments next season successfully.
And that's just for the here and now. At 24, Alvarez will give his best years to Atletico. For City. For the Manchester City of 2024. This shouldn't be happening. They're now the destination. Not a stepping stone. But with this sale, such a reputation takes a knock.
Alvarez was more than simply Haaland's backup. His numbers prove that. His age and experience suggest there was more to come from the Argentine. This sale wasn't supposed to happen. The lack of contingency suggests as much.
Losing such talent, of course, can happen. But the way Alvarez has slipped away does raise questions about management's handling of the player. No matter the spin, this sale is a blow for the champions...