“How the process ended” – Fenerbahce President reveals why Ademola Lookman turned them down to join Atletico Madrid

Fenerbahçe SK president Sadettin Saran has explained how the Turkish giants lost out on signing Super Eagles forward Ademola Lookman, who eventually joined Atlético Madrid during the winter transfer window, Soccernet.ng reports.

Lookman had made his intention to leave Atalanta BC clear last summer, but the Serie A club were reluctant to sanction a move despite receiving several approaches for the 28-year-old attacker.

The situation left the 2024 CAF Player of the Year unhappy in Bergamo for much of the early part of the campaign.

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Lookman’s stock rose even further during the 2025 Africa Cup of Nations, where he delivered an impressive performance for Nigeria.

The former Leicester City FC winger recorded three goals and four assists, the highest number of goal contributions by any player at the tournament in Morocco.

His form prompted renewed transfer interest, with Fenerbahçe submitting a €35 million bid for the one-time UEFA Europa League winner during the January transfer window.

Why Lookman didn't join Fenerbahce

Speaking to Fenerbahçe TV, Saran revealed that negotiations had initially progressed smoothly, with the player even speaking directly with the club’s manager multiple times.

However, discussions eventually broke down due to disagreements over financial guarantees.

“On December 19th, as soon as my foreign ban was lifted, I went to Milan for Lookman and met his manager,” the 61-year-old said in quotes revealed by STAR.

“Everything went very well. 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.”

According to Saran, Fenerbahçe refused to provide the requested guarantee despite maintaining that they had no outstanding debts.

“We told them we owe no one and that we would pay everything. Lookman spoke with our coach two or three times and he wanted to come.”

While negotiations dragged on, Atlético Madrid entered the race and quickly secured the player’s agreement.

“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,” Saran concluded.

Since arriving at the Wanda Metropolitano, Lookman has quickly made an impact under Diego Simeone, scoring four goals and providing two assists in 11 appearances for the Spanish side, continuing the impressive form that made him one of Europe’s most sought-after attackers.