Arsenal have not given up on signing Julián Alvarez, even with Barcelona still the preferred move and Atletico Madrid standing in the way. Arsenal’s interest is not a loose rumour either. They made an offer worth €100 million plus €20 million in bonuses last summer during the Club World Cup, then came back again in the winter transfer window after signing Viktor Gyokeres.
Arsenal's push
That is the part worth watching. Arsenal are not waiting around out of habit, they have already shown they are willing to spend heavily and keep pushing after the first move failed. The timing matters too, because Atletico did not just turn down one approach and move on. The club signed Alvarez from Manchester City in summer 2024, and there is no sign they want this to become a straightforward sale.
For Arsenal, the hope is that the stalemate around Barcelona opens a cleaner route. They are not chasing a player no one else wants. They are trying to stay alive in a race where the preferred destination and the hardest negotiating club are pulling in different directions.
Alvarez's own position
Alvarez has not exactly hidden that he wants out. After Argentina's 2-0 win over Austria in the group stage, he said, "I want to fulfil my dream. I have spoken with the people at the club that I needed to speak to. The best thing for my future is a transfer." That is a clear enough public signal that this saga is not being driven only by clubs.
Kyle Walker also described him as a striker who can thrive when other names take the spotlight, saying with Lionel Messi around for Argentina, Alvarez is someone opponents still have to keep an eye on. That fits the wider picture of a forward who may want a bigger, clearer stage than the one he has now.
The key detail, though, is that Barcelona remain his dream move. Atletico have pushed back hard, and talkSPORT reported the club's line as simple: pay the €500 million release clause or there is no deal. There was also a reported £86 million bid from Barcelona that Atletico rejected.
That leaves Arsenal in an unusual position. They are not leading this because the player has chosen them. They are still in it because Barcelona have not broken through Atletico's resistance, and Arsenal have already shown they are prepared to keep pressing.
The next move still belongs to the clubs, not the player. For now, the Julian Alvarez transfer remains a live three-way stand-off, with Arsenal waiting for Barcelona and Atletico Madrid to blink first.
Written by Jack Mercer with AI-assisted research, cross-checked against 4 outlets. How we work →
