As tensions in the January 2026 transfer window continues to mount Ademola Lookman’s proposed move to Fenerbahçehas taken an unexpected turn.

The final hours of the 2026 January transfer window have descended into chaos as Atlético Madrid launched a sensational late bid to snatch Ademola Lookman from the clutches of Fenerbahçe.

In what looked like a done deal for the Turkish giants just 24 hours ago, the race for the Atalanta star has taken a “dramatic turn.” While Fenerbahçe had reached a verbal agreement on a €40m package (€35m guaranteed plus €5m in add-ons), the move has hit a significant wall over financial logistics.

Sources close to the negotiations reveal that Atalanta and Fenerbahçe are currently deadlocked. While the fee itself is not in dispute, the payment terms and bank guarantees have become a major sticking point.

Atalanta’s Stance: The Italian club is demanding a larger upfront payment.

Fenerbahçe’s Proposal: The Turkish side prefers a more staggered payment structure, which has yet to satisfy the Atalanta board.With the paperwork stalling in Istanbul, Diego Simeone’s Atlético Madrid have sensed blood in the water.Atléti Strike BackIn a swift counter-move, the Spanish side has matched the €40m total valuation and, crucially, is “ready to go” with the financial guarantees that Fenerbahçe has struggled to provide.Unlike the Turkish proposal, Atléti’s offer is reportedly more front-heavy, meeting Atalanta’s preference for immediate liquidity.

“Fenerbahçe are still struggling with the structure, but Atlético are ready. They have the green light from Bergamo on the fee,” according to numerous reports.

Lookman’s Decision: The latest transfer update?

Perhaps most damaging to Fenerbahçe’s hopes is the shift in the player’s camp. Atlético Madrid have reportedly improved their salary proposal to Lookman, moving closer to the lucrative personal terms originally offered by the Yellow Canaries.

With Lookman omitted from Atalanta’s latest squad selection, an exit is imminent. Fenerbahçe are reportedly working frantically to resolve the banking issues, but the momentum has swung firmly toward Madrid.

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