Arsenal and PSG clash over Julián Álvarez as Gunners weigh Rogers and Kroupi alternatives

Arsenal and Paris Saint-Germain are locked in a transfer battle for Atlético Madrid forward Julián Álvarez, with PSG having moved ahead by signalling their willingness to meet Atlético’s €125m (£108m) asking price and matching the Argentine’s wage demands.

Mikel Arteta is a known admirer of Álvarez, and Atlético coach Diego Simeone has already publicly confirmed Arsenal’s interest. However, sources close to the player indicate his personal preference would be a move to Barcelona — a club that does not currently have the funds to pursue a deal of that scale.

Atlético are determined to hold firm on their valuation, which may ultimately force Álvarez to actively push for whichever club he chooses. Arsenal have the financial capacity to compete but, as was the case last summer, are taking a measured approach to how they deploy their transfer budget.

That caution has opened the door to alternatives. Arsenal are making progress on a move for Aston Villa midfielder Morgan Rogers, though they are far from alone — Chelsea, Manchester United, and PSG have also been identified as interested parties. Villa would prefer to retain Rogers, but the club’s hierarchy is also weighing the merits of selling and reinvesting to strengthen the squad further, having navigated a difficult period under financial regulations.

Arsenal are additionally pursuing Bournemouth teenager Junior Kroupi, who scored the goal in Bournemouth’s 1-1 draw against Manchester City that proved pivotal in Arsenal’s Premier League title win. The club are targeting three or four signings this summer, with a similar number expected to depart.

Gabriel Jesus is among those set to leave, with Arsenal prepared to sanction his exit for a nominal fee of around £5m to a club in the Brazilian league. Freeing up his wages would provide meaningful headroom under financial regulations as the newly crowned English champions look to build on their first league title in over two decades.

Arsenal’s status as Premier League champions has strengthened their hand in negotiations, giving the club a more compelling pitch to prospective signings than they have been able to make in recent transfer windows.