Atletico Madrid would be prepared to sell Julian Alvarez to Arsenal for around £128 million as the Spanish club maintains its refusal to allow the Argentina striker to join LaLiga rivals Barcelona.
Arsenal continue to monitor the 26-year-old’s situation as Mikel Arteta looks for another major attacking addition before the transfer window closes. Sky Sports’ latest transfer round-up, citing The Athletic, says Atletico would consider selling Alvarez if the Gunners meet their valuation.
Alvarez has already made clear that he wants to leave Atletico. During the World Cup, he said he had spoken to the relevant people at the club and believed a transfer would be best for everyone, adding that he wanted to “fulfil my dream”.
Atletico refuse to strengthen Barcelona
Barcelona have pursued Alvarez throughout the summer and are understood to be his preferred destination. However, Atletico’s reluctance to strengthen a direct domestic rival has created a major obstacle to the proposed move.
The dispute has become increasingly tense. The Guardian reports that Atletico have remained adamant they will not facilitate his move to Barcelona, while Alvarez’s relationship with sections of the club’s support has deteriorated during the transfer saga.
That stance could work in Arsenal’s favour. While Atletico do not want Alvarez moving to another major Spanish club, reports suggest they would be willing to negotiate with the Premier League champions if their financial demands are satisfied.
Arsenal face enormous £128m decision
The price would make Alvarez an extraordinary investment for Arsenal.
Atletico previously rejected a €150 million offer from Real Madrid in June. That bid was worth about £129 million at the time, with the Spanish club pointing towards the striker’s release clause when turning down their city rivals.
Alvarez remains under contract at Atletico until 2030 and has a €500 million release clause, leaving the Spanish side in a powerful negotiating position.
Arsenal’s interest is longstanding. Earlier this month, Sky Sports reported that the Gunners remained interested despite Alvarez’s preference for Barcelona, while The Guardian also confirmed that Arsenal were continuing to track his situation.
Alvarez future increasingly uncertain
Alvarez joined Atletico from Manchester City in 2024 in a deal worth up to €95 million. He has since scored 49 goals in 106 appearances for the Madrid club.
His future has dominated the Spanish transfer window since he publicly expressed his desire to leave during Argentina’s World Cup campaign.
Barcelona remain interested, but Atletico’s refusal to negotiate with their LaLiga rivals potentially gives Arsenal a clearer route to the striker provided they are prepared to meet a valuation approaching £128 million.
For Arsenal, the decision is now whether to turn their long-standing interest into a huge formal offer capable of testing Atletico’s resolve.
