After last season's loan with Sevilla, Saul has left Atletico after terminating his contract by mutual consent.
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He has now joined Flamengo in a free transfer, signing a three-year contract to 2028.
Saul will wear the number 8 jersey and be available for the Brasileirão, the Copa Libertadores, and the Copa do Brasil.
At Flamengo, Saul will be reunited with coach Filipe Luis, with the pair having played together as Atletico Madrid teammates.