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Trippier is the first signing under new manager Eddie Howe and the Saudi Arabia-backed ownership as Newcastle look to avoid relegation from the Premier League.
The England international arrives in a deal worth £12 million and he's signed a two-and-a-half year contract, with the option for an additional year.
Atletico hoped Trippier would want to stay in Spain having helped the club win their first La Liga title since 2014 last season.
Introducing the first signing of our new era... 🏴— Newcastle United FC (@NUFC) January 7, 2022
But the 31-year-old, who is best known for his time at Tottenham Hotspur, was keen to return to England after a couple of years away.
Trippier and Howe have previous, with Howe being the manager of Burnley when Trippier joined from Manchester City in 2012.
This season, Trippier has made 15 appearances for Atletico and waved goodbye following Sunday's 2-0 win over Rayo Vallecano.
Newcastle have won just one Premier League game all season and currently sit 19th in the table.
They're two points from safety and a 1-1 draw against Manchester United last time out has raised spirits around St James' Park.
Other players have been linked in January, including Juventus midfielder Aaron Ramsey and Arsenal striker Pierre-Emerick Aubameyang.
Current Magpies midfielder Isaac Hayden paid tribute to Howe recently and explained how the team have improved since his arrival.
He told the Beautiful Game podcast: "Eddie's come in and, to his credit, has got everyone believing in themselves a little bit more ability wise and as a team.
"We don't really show the teams that much respect anymore. We played Liverpool and they won 3-1, but we didn't sit back. We were pressing them, trying to impose our own performance on the game.
"Even Man City. There were a couple of times where we nicked the ball and could've scored and could've created something so we're pressing teams a lot more.
"We're not really showing them that respect, especially higher up the table, and I think that's his mentality that we've got some good players, especially attacking players, that can hurt teams and to be imposing our style on the game a little bit more."
Newcastle return to action against Cambridge United in the FA Cup on Saturday.
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