Atletico Madrid forward Julian Alvarez is weighing up a summer departure from the Riyadh Air Metropolitano after his representatives held exploratory talks with Arsenal, Paris Saint-Germain, and Barcelona. According to Cadena SER, the Atletico hierarchy now fears the 26-year-old has decided to move on just two seasons after his €95m arrival from Manchester City. While the Spanish club is protected by a contract running until June 2030, they have reportedly established a valuation between €100m and €130m (£86m–£111m) to sanction a sale for the Argentine international.
Valuation and tactical fit at Arsenal
Arsenal's interest follows a season where Mikel Arteta has sought a more versatile profiles to supplement the output of 2025 signing Viktor Gyokeres. Alvarez has maintained high-level production in Spain, recording 19 goals and nine assists in 47 appearances this term, including a penalty against the Gunners in the Champions League semi-final. Sky Sports reports that contact has been established with the player's camp, though Atletico president Enrique Cerezo has publicly dismissed the speculation. "I imagine Julian is an Atletico player next season," Cerezo stated. "Bringing this up again is hurtful." However, the £86m floor price would represent a significant investment for Arsenal, matching the club-record territory of the Declan Rice deal in 2023.
The battle for the Argentine forward
While Barcelona remain linked, their ongoing financial constraints make a €100m outlay difficult without major high-value departures, leaving Arsenal and PSG as the most viable destinations. Speaking on the player's future, manager Diego Simeone noted that it is "normal that an extraordinary player like Julian is wanted" by Europe's elite. Atletico are reportedly considering using potential wage savings from Antoine Griezmann’s future to offer Alvarez an improved deal, but the player has remained non-committal. "I don't give importance to what's said on social media," Alvarez said recently. "I focus on the pitch." Having already won the Premier League and Champions League with Manchester City, Alvarez's next move will likely be dictated by his desire for a definitive undisputed starting role in a central position.
Negotiations are expected to intensify following the conclusion of the La Liga season as Atletico determine if they can convince their record signing to stay.