Bayern Munich faced a hectic end to the 2025 summer transfer window. After selling Kingsley Coman to Saudi Arabia in mid-August, the club set out to bring in another attacking player. Club patron Uli Hoeneß insisted any arrival had to be on loan.
Ademola Lookman soon emerged as a candidate. The left winger had fired Atalanta Bergamo to the 2024 Europa League title with a hat-trick against Bayer Leverkusen and finished an impressive 14th in the Ballon d'Or voting. He wanted to leave Bergamo for a bigger club, so Bayern Munich's interest came at just the right time.
Represented by the Roof agency, which also works with Konrad Laimer and Serge Gnabry, Lookman had a route into talks with Bayern. The club and player are said to have reached an agreement quickly, but Bayern Munich and Atalanta could not agree on the terms of the transfer fee.
Bayern reportedly offered a loan with an option to buy for €28 million. Atalanta, however, are said to have wanted a permanent transfer or a loan with an obligation to buy for around €50 million. Bayern instead brought in Nicolas Jackson on loan from Chelsea for a €15 million fee. Lookman moved to Atletico Madrid for €35 million the following winter.
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Ademola Lookman searches for his form at Atletico Madrid
While Jackson disappointed for much of his time at Bayern Munich, Lookman had a strong second half of the season for Atletico. He registered 13 goal contributions in 24 competitive appearances, including the crucial goal to make it 1-2 in the Champions League quarter-final second leg against Barcelona, which ultimately secured a surprise place in the semi-finals.
Despite missing the World Cup over the summer and starting the season rested, Lookman has fallen well short of expectations in recent weeks. After 14 appearances, the 29-year-old Nigerian has just three goal contributions, though two have come in the Champions League. Lookman scored in the 2-0 win against Manchester United and set up the goal in the 1-1 draw against VfB Stuttgart.
In the Primera Division, Lookman came off at half-time in three consecutive matches before appearing only in the closing stages of Saturday's 2-0 win against UD Levante. "Lookman may not be in his best form at the moment, but we still believe in him," said coach Diego Simeone. "We need him and know what he can give the team."
Bayern Munich could use Lookman now, too. With Luis Diaz, Jamal Musiala, Serge Gnabry and Ismael Saibari all unavailable, they are particularly short of options on the left wing, Lookman's preferred position. Left-back Alphonso Davies is likely to start there against Atletico on Tuesday. Jackson returned to Chelsea in the summer after a disappointing season and is now playing and scoring for Aston Villa.