Arsenal make aggressive £100m-plus move for Julian Alvarez as PSG rivalry intensifies

Arsenal are ready to make an aggressive move for Atletico Madrid forward Julian Alvarez, with the Gunners proposing a player-plus-cash deal worth more than £100m for the Argentina international, according to TEAMtalk.

The 26-year-old has been one of the most sought-after forwards in Europe this summer, but Arsenal’s hopes of landing him had appeared to dim after reports suggested Alvarez was leaning towards a move to Paris Saint-Germain. The club have now pushed back firmly on that narrative, with their structured offer said to have strengthened their negotiating position.

Alvarez joined Atletico from Manchester City just two years ago and has been a consistent performer in Madrid, scoring 49 goals in 106 appearances across all competitions. Despite that productivity, he is reportedly keen to move on this summer, with Barcelona also having registered an interest. The Catalan club’s well-documented financial difficulties, however, are expected to price them out of a deal at Atletico’s asking price.

Arsenal and PSG are both said to be willing to meet Atletico’s financial demands, and Alvarez himself is understood to be open to joining either club. His representatives have made clear to interested parties that a decision needs to be made quickly — a timeline that has become more pressing given that Argentina’s opening 2026 World Cup group game against Algeria is less than three weeks away.

The urgency from Alvarez’s camp is consistent with messaging that has been relayed to potential suitors over recent months: commit to the transfer or step aside.

The backdrop to Arsenal’s pursuit is a remarkable domestic campaign. The Gunners secured their first Premier League title in 22 years last week and are now preparing to face PSG in Saturday’s Champions League final in Budapest — meaning the two clubs competing for Alvarez in the transfer market will first meet on the pitch for European football’s biggest prize.

Alvarez won the 2022 World Cup with Argentina at the age of 22, scoring four times during that tournament. He will be looking to add to that legacy at a second successive World Cup in the United States, Canada, and Mexico this summer.

Arsenal are also reported to be working on extending manager Mikel Arteta’s contract, with the Spaniard’s current deal due to expire next summer. Sandro Tonali of Newcastle United is another midfielder who has been linked with a move to the Emirates.