TRANSFER TRACKER STATUS: Loan
Alvarez, 26, made 56 appearances and scored five goals in all competitions for Atletico. The Galaxy had been public in their hope to sign an attacker before the deadline, as Romain Alessandrini will be out until September with an injury.
“Favio is a talented and dynamic attacking player who will be a valuable addition to our roster,” GM Dennis te Kloese said in a statement. “He has a versatile skillset that will allow him to play multiple positions in our attack. We think he can be a dangerous option for our club this season and we look forward to adding him to the team.”
Alvarez began his pro career with Talleres de Cordoba and has also represented Defensa y Justicia and CA Sarmiento, which would have put him in the view of current LA head coach Guillermo Barros Schelotto during his previous stints in charge of Boca Juniors and Lanus.