Alvarez rules out Arsenal move with Atletico stay now the most likely outcome

Julian Alvarez has privately ruled out a transfer to Arsenal, with reports from Spain indicating the Atletico Madrid forward is only open to a move to Barcelona — a deal that itself appears increasingly unlikely to materialise.

Arsenal have been identified as the sole ‘realistic’ club capable of meeting Atletico’s demands for the Argentina international, yet Alvarez is said to have no interest in relocating to north London. With Barcelona’s pursuit stalled and Atletico actively planning their squad around him, the most probable outcome is that Alvarez remains in Madrid for the 2025-26 season.

Key intermediaries have described any potential Barcelona deal as ‘extremely complicated’, and the situation is at a ‘standstill’. Atletico publicly criticised Barcelona last month over the speculation surrounding Alvarez, and the club are reportedly reluctant to enter negotiations with their La Liga rivals. Barcelona, for their part, have turned down an approach for Napoli striker Victor Osimhen — who has also been linked with Atletico — and are holding firm on Alvarez as their primary target, with no plans to pursue alternatives unless circumstances change significantly.

Elsewhere in Arsenal’s summer business, the club are monitoring AFC Bournemouth teenager Eli Junior Kroupi. The 19-year-old striker impressed during his debut Premier League campaign, and Arsenal have been encouraged by reports that Paris Saint-Germain will not compete for his signature. Bournemouth remain reluctant to sell, but the absence of PSG from the race gives the Gunners a clearer run.

Arsenal have also moved for 18-year-old defender Emmanuel Mbemba, according to Le Parisien. PSG have offered the youngster professional terms but have yet to secure his commitment, and Paris FC are also in the frame. Arsenal are reported to have presented their project to Mbemba as they look to strengthen their defensive options ahead of next season.