“I have loved every moment but feel that now, after three wonderful years in Bergamo, it’s the right time to move on and experience a new adventure,’’ an emotionally detached Ademola Lookman shared midway through the ongoing summer transfer window in what was in parts an accusatory dig at Atalanta B.C’s ownership and a goodbye note to the club’s fans amid the pursuit of a transfer to Inter Milan. However, ahead of the commencement of the 2025/26 Italian Serie A this weekend, the 27-year-old, by all indications, will remain at Bergamo, playing in the very colours of Atalanta he has outgrown.

The 2024/25 campaign seemed like the natural closing chapter of Lookman’s Atalanta spell. After joining the Bergamo outfit in the 2022/23 summer following early career stints in the English Premier League and German Bundesliga, the England-born Nigerian international found a consistent form and rising star power in Italy, with each season eclipsing his previous: in goal contributions and personal and collective honours. Lookman’s debut-season performance earned him Atalanta’s Player of the Season, an accolade he reclaimed in the 2023/24 season, where he became the first player in 49 years to score a hat-trick in a European final, leading La Dea to their maiden Europa League trophy against a Bayer Leverkusen side who were on a historic season-long unbeaten run.

The magnitude of his contributions earned the former Leicester City forward a 14th-place spot as the only African player on the 2024 Ballon d’Or list, before cruising to the African Footballer of the Year award. 

On the back of these feats, Lookman invariably became a subject of transfer speculation, with stronger links to French giants Paris Saint-Germain as early as the 2023/24 season. The game has always relished this storyline: a gem uncovered or polished at a mid-tier club, attracting the attention of wealthier, more decorated giants every window, and Lookman’s case has been no different. Even after PSG’s reported pursuit cooled, his continued brilliance for Atalanta only strengthened the sense that 2024/25 would be his final season in Bergamo.

This became most apparent during the midseason fallout when Atalanta head coach Gian Piero Gasperini publicly blamed Lookman for their Champions League exit against Club Brugge. The Super Eagles winger had scored 34 seconds after coming on as a half-time substitute, but his subsequent penalty miss denied La Dea a chance to overturn what ended as a 3–1 defeat. Gasperini went as far as calling him “the worst penalty taker he’s seen.” Feeling understandably hard done by, Lookman expressed his disappointment with the manager’s remarks on social media. Although the matter appeared to have been resolved behind the scenes before Gasperini’s exit at the end of the season, Lookman’s departure was seen as only a matter of time. 

The summer came with fresh interest for Lookman, with Atletico Madrid reportedly signalling interest before Inter Milan entered, and swiftly agreed personal terms with the player before submitting an opening bid of €40m to Atalanta. A timeline of the developments from transfer specialist Fabrizio Romano indicates that despite Lookman’s burning desire to depart Bergamo, and Inter’s seemingly measured interest, with bids and even public confirmation to the press, the 2023/24 Europa League champions held on for a €50m request, and wouldn’t budge to Inter’s improved €40m plus €5m add-ons. The protracted negotiations between both clubs wore on Lookman who deleted all traces of Atalanta from his socials, submitted an official transfer request to the club, followed by a public statement accusing them of broken promises and failing to receive a fair offer for his departure, which has since been a point of conflict.

According to Italian publication InterNews, Lookman’s actions were at Inter’s urging, aiming to pressure Atalanta into negotiations, much like the approach that facilitated Victor Gyökeres’ transfer from Sporting Lisbon to Arsenal.

The latest from Fabrizio indicates that Inter, tired of Atalanta’s stubbornness, has pulled out of the race for Lookman’s signature, which all but leaves the Nigerian international. When it comes to transfers, the processes are rarely enjoyable for the involved parties, including the fans. Selling clubs are always out to maximise their returns and investment on the player, while buying ones are looking for a bargain and a preferable structure, with both parties waiting for the other to blink. The players, in most cases, are looking for a much better paycheck, playing time, a conducive environment, a shot at trophies, consistent appearances in elite competitions and all that comes with representing historical and present-day giants.

For Lookman, a transfer to Inter or a club of comparable standing will be a career-elevating one. For Atalanta, this is business. Having bought Lookman for a reported fee of €15 million in 2022, their valuation of €50m on the player, who still has two years left on his contract, is as fair as it can get for a Ballon d’Or nominee and reigning African Player of the Year in today’s market. In a more commercial league like the EPL, this would hardly be an issue, with deals in this range gradually becoming the baseline in the Barclays. In Serie A, though, the dynamics are different, substantiated by the fact that Lookman would have been Inter’s third most expensive signing overall and their costliest African acquisition.

It also doesn’t help Lookman and his camp that he has little leverage. With two years still left on a contract that includes no release clause, and with most top clubs having already secured their targets earlier in the window or wrapping up their summer dealings, his options have thinned considerably. Worse still, he has already hurt his position by speaking against his parent club. At this point, the most probable resolution is his return to Italy with his tail between his legs.

All the leverage rests with Atalanta. And though logic suggests clubs shouldn’t keep an unhappy player because of the risk of uninspired performances and tension in the dressing room, the Bergamo side has made its stance clear. Lookman will have to fall in line unless an improbable suitor emerges willing to meet Atalanta’s demands. Even then, matters could be further complicated if the club chooses to be business astute and capitalise on the September 1 deadline.