Arsenal hold fresh Alvarez talks as £85m Barcelona preference complicates deal

Arsenal held direct talks with Atletico Madrid over a potential deal for Julian Alvarez last Friday, with the Gunners keeping the door open for a late move before the transfer window shuts on September 1, according to journalist Fabrizio Romano.

The 26-year-old Argentine forward is understood to be Mikel Arteta’s primary target this summer, but the pursuit has been complicated by Alvarez’s stated preference to join Barcelona. Atletico have further muddied the waters by insisting they will not sell their talisman to a La Liga rival, meaning Arsenal would face a club-record fee if Alvarez were to agree to move to north London.

Romano reports that Alvarez has not outright rejected Arsenal despite his Barcelona preference, and the Gunners have acknowledged the situation with respect. In the London meeting, Arsenal made clear they want to be kept informed by both club and player of any developments over the coming week, positioning themselves to re-enter negotiations should circumstances change.

Meanwhile, Alvarez was included in Diego Simeone’s squad for Atletico’s La Liga fixture against Villarreal on Sunday, suggesting his stand-off with the club has not yet reached a breaking point.

The pursuit comes on the back of a transformative summer for Arsenal. Sporting director Andrea Berta oversaw the arrivals of five players for a combined £200 million, and the early returns have been impressive. The Premier League champions — who ended a 22-year top-flight title drought last season — opened the 2026/27 campaign with back-to-back 3-0 victories, first against Manchester City in the Community Shield and then against Coventry City in their league opener.

Arteta has publicly identified a world-class forward as the final piece of his squad before the window closes, and Alvarez fits that profile. The Argentine was a key figure in Manchester City’s treble-winning 2022/23 season before joining Atletico, and his form in Madrid has only enhanced his reputation.

Arsenal are also monitoring Juventus winger Kenan Yildiz as an alternative attacking option, though Alvarez remains the priority target as the deadline approaches.