The agreement, finalized on August 19, includes no option to buy, with Leverkusen covering the player's full salary. Echeverri is set to undergo a medical in Germany as soon as the final paperwork is complete.
The young playmaker, who has already earned 10 caps for Argentina's Under-23 side, caught attention with a stunning free-kick goal in Manchester City's 6-0 thrashing of Al-Ain at the FIFA Club World Cup on June 22.
Despite his promise, limited first-team opportunities at City, where he made just three appearances, including a brief cameo in the FA Cup final, prompted the Premier League champions to seek a loan move for his development.
Borussia Dortmund had tabled a loan offer with an option to buy, but Manchester City, valuing Echeverri as a key part of their long-term plans, rejected any permanent transfer clauses.
Leverkusen's straight-loan proposal aligned better with City's vision, offering the teenager regular minutes in the Bundesliga and UEFA Champions League under new manager Erik ten Hag.
German outlet Kicker reported that Echeverri is expected to slot into the right attacking half-space in Ten Hag's dynamic 3-4-3 formation, providing creativity behind the striker. "This move is perfect for his growth," said transfer expert Fabrizio Romano on X. "Leverkusen's high-intensity style and European football will test and refine his skills."
Echeverri, signed by Manchester City from River Plate for 18.5 million euros in January 2024, spent the remainder of that year on loan at his boyhood club before joining City's squad in 2025.
His flair and vision have drawn comparisons to compatriot Lionel Messi, with fans and analysts eager to see how he adapts to the Bundesliga's pace.
Leverkusen, fresh off a strong DFB Pokal win, view Echeverri as a vital addition following the departure of Florian Wirtz to Liverpool.
"He's a special talent," said Sky Germany's Florian Plettenberg. "Leverkusen have pulled off a coup here."
As Echeverri prepares to join his new teammates, Manchester City supporters will be watching closely, knowing their prized prospect remains firmly in their future plans.
Leeds United have secured a major coup by finalizing a deal to sign AC Milan's versatile forward Noah Okafor, bolstering their attacking options as they aim to cement their place in the Premier League.
Sebastien Haller has returned for a third stint with Dutch club Utrecht after leaving Borussia Dortmund, officially signing a one-year deal.
Inter Milan have redirected their transfer focus to Benfica midfielder Florentino Luis and Borussia Dortmund forward Felix Nmecha as they aim to bolster their squad before the transfer window closes.
Liverpool are ramping up their pursuit of Crystal Palace defender Marc Guehi, with fresh negotiations set to take place this week in a bid to seal the deal before the summer window shuts.
