By SABC Sport
20th January 2023
The 28-year-old Netherlands international moves from Barcelona, where he had been in the final year of his contract and had fallen down the pecking order this season.
Atleti, who had been looking for attacking reinforcements after Joao Felix's loan move to Chelsea and Matheus Cunha's temporary switch to Wolves, have reportedly paid an initial fee of £2.6million.
A club statement read: "Memphis Depay is a new Atletico Madrid player following the agreement reached with FC Barcelona for the transfer of the Dutch striker to our club, signing for the remainder of the season and two more seasons."
Depay scored 14 goals for Barca after joining them in the summer of 2021 from Lyon. He began his professional career with PSV Eindhoven and also had a 19-month spell at Old Trafford.