Alvarez to Barcelona, Atlético to Arsenal: the transfer going in circles

Julian Alvarez is at the heart of a standoff that is paralyzing the summer transfer market: Atlético Madrid is willing to sell him, but only to Arsenal, while the Argentine striker will only consider a move to FC Barcelona. With around ten days before the market closes, the deal is stalled.

According to Mundo Deportivo, the Madrid executives have drawn a clear red line: there is no question of negotiating with the Catalan rival. Their position boils down to two options — Alvarez extends his time at Atlético, or he joins the Gunners, the only club with which the team is willing to discuss. Arsenal, interested since the market opened, thus finds itself in a position of favorite by default.

But the equation hits a major obstacle: the former Manchester City striker simply does not wish to return to England, which he left in the summer of 2024 for 75 million euros. Without his agreement, no transfer can go through, regardless of the clubs’ willingness.

Despite this saga, Alvarez has returned to training with Atlético and appears in the club’s official photos for the 2025-2026 season. He was absent from the squad for Liga’s opening match against Malaga (2-0) on Wednesday, but his presence remains possible for the home game against Villarreal this Sunday, in the second round of the championship.

The 2022 World Cup winner thus finds himself in a deadlock: trapped between a selling club that closes the Barcelona door to him and an English destination that he refuses. Unless one of the parties has a change of heart, the deal could simply close without a transfer.