Atletico Madrid have already said no to Barcelona's €100m offer for Julián Alvarez. The next club in line is likely to be Arsenal, with Atletico expecting a bid and holding out for €150m, a figure the article says would break the British club spending record. Alvarez joined Atletico from Manchester City in a deal worth around £81m two years ago.

Why Atletico think the price works

Atletico's valuation is not being pulled out of thin air. Alvarez made 29 La Liga appearances in 2025 and was rated 6.97, which is solid output for a forward being priced at the very top of the market. In Europe he was even more productive, with 10 Champions League goals in 15 appearances and a 7.53 rating. Those numbers are exactly why Atletico believe they can demand a premium.

Arsenal's interest is real, but the race is not settled

The case for Arsenal is stronger than a usual summer link because there is already contact with Alvarez's camp, and Andrea Berta negotiated his move to Atletico before leaving for Arsenal. That gives Arsenal a familiar route into the conversation. But Atletico's stance is still firm, Gianluigi Longari has also reported that Barcelona were being pushed to the side of the queue, and one Atletico source put it bluntly: "Two weeks ago it was PSG, last week Barcelona, now Arsenal. We count on Julian for next season."

That is the line Atletico are putting out. Whether Arsenal are willing to meet the price is another matter, and €150m is the kind of fee that forces a club to think twice even when the player fits the profile. If Arsenal do make a move, they will have to decide quickly whether Alvarez is the target worth stretching for, or the one that stays on the wish list.

FAQ

Will Arsenal bid for Julian Alvarez this summer?

Arsenal are expected to bid, but nothing has been agreed. Atletico Madrid have already rejected Barcelona's €100m offer and are holding out for €150m, a figure the article says would break the British club spending record.

Why is Atletico Madrid asking so much for Julian Alvarez?

Atletico's valuation is backed by Alvarez's 2025 output. He made 29 La Liga appearances, scored 10 Champions League goals in 15 appearances, and posted a 7.53 rating in Europe.

Does Andrea Berta give Arsenal an advantage in the Julian Alvarez chase?

Berta has a link to the deal because he negotiated Alvarez's move to Atletico a year before leaving for Arsenal. That connection gives Arsenal an inside lane, but it does not mean a move has been agreed.

Written by Daniel Hartley with AI-assisted research, cross-checked against 6 outlets. How we work →