Fenerbahce President Reveals Why Club Failed to Sign Ademola Lookman from Atalanta
Fenerbahce President Sadettin Saran has publicly disclosed the primary reason behind the Turkish club's unsuccessful attempt to sign Nigerian forward Ademola Lookman from Atalanta, which ultimately led to the player joining Atletico Madrid in January 2026.
Breakdown in Negotiations Over Financial Guarantees
In a detailed explanation, Saran revealed that negotiations collapsed due to Atalanta's insistence on a letter of guarantee, a request that Fenerbahce was unwilling to meet. "On December 19th, as soon as my foreign ban was lifted, I went to Milan for Lookman and met his manager; everything went very well," Saran stated, as quoted by STAR. "Then we spoke with Atalanta officials, and things were positive, but later they asked for a letter of guarantee because they said Turkish clubs sometimes struggle with payments."
Saran, who recently assumed the presidency after defeating Ali Koc, attempted to assure Atalanta that Fenerbahce had no outstanding transfer debts. However, the Italian club remained firm in their demand, citing concerns over payment reliability. This impasse allowed Atletico Madrid to secure Lookman's signature for a reported fee of €35 million.
Lookman's Journey and Decision to Join Atletico Madrid
Ademola Lookman's transfer saga spanned nearly two years, during which Atalanta blocked multiple exit attempts. The Super Eagles star had been sought by several top European clubs, including:
- Paris Saint-Germain, whose offer was rejected in summer 2024
- Inter Milan and Bayern Munich, both turned down in 2025
- Fenerbahce and Atletico Madrid, the final options in January 2026
Lookman ultimately chose Atletico Madrid over Fenerbahce, motivated by the desire to remain in one of Europe's top five leagues and compete in the UEFA Champions League. Reports indicate he rejected a lucrative offer from the Turkish club to join Diego Simeone's side.
Impact and Performance at Atletico Madrid
Since his move, Lookman has settled well at the Riyadh Air Metropolitano, contributing significantly to Atletico Madrid's campaign. According to Transfermarkt, he has recorded four goals and three assists in 11 matches across all competitions. His performances have been instrumental in helping the club reach the Copa del Rey final, where they aim to secure their first trophy since 2021 after a 4-3 aggregate victory over Barcelona in the semi-finals.
Historical Context and Previous Transfer Attempts
This incident is not the first time Lookman's transfer has involved complex negotiations. In summer 2025, Bayern Munich approached Atalanta with a loan proposal, which was swiftly rejected. The German club was quoted a transfer fee that exceeded their budget, leading to the collapse of that deal as well.
The situation highlights a broader trend in football transfers, where financial assurances play a critical role. For instance, Napoli previously requested bank guarantees from Galatasaray before sanctioning Victor Osimhen's permanent sale in 2025, ensuring compliance with payment plans.
Fenerbahce's failure to secure Lookman underscores the challenges Turkish clubs face in the international transfer market, particularly regarding perceptions of financial stability. Saran concluded, "Atalanta came again asking for the guarantee. They didn’t want to give the transfer to us, they preferred Atlético Madrid. That’s how the process ended."
