Arsenal push to seal sub-£90m Julián Álvarez deal before pre-season as rivals drop out

Arsenal are pushing to finalise a deal for Atlético Madrid striker Julián Álvarez before pre-season begins, with the club sensing an opening after rival suitors fell away — though a significant gap between the two clubs’ valuations remains the central obstacle.

The 26-year-old Argentina international had long been Mikel Arteta’s primary attacking target, but the move stalled partly because Álvarez’s own preference was to remain in Spain, ideally with Barcelona or Real Madrid. Atlético have firmly closed that door, making clear through a series of pointed social media posts that they will not sell to either of their domestic rivals.

Paris Saint-Germain had also registered interest, but that appears to have been exploratory rather than serious, with the French club weighing a broader range of options. Their withdrawal, combined with Atlético’s stance on Spanish clubs, has narrowed the field and given Arsenal renewed momentum.

Álvarez’s profile rose sharply at the 2026 World Cup on Sunday when he scored an extra-time curling long-range strike to seal Argentina’s 3-1 victory over Switzerland, booking their place in the semi-finals against England in Atlanta. The goal underlined exactly the kind of decisive, big-moment quality Arteta has been seeking.

The sticking point is financial. Arsenal are reluctant to exceed £90m, while Atlético are holding out for a fee north of £100m. The negotiation carries an added layer of complexity: Arsenal sporting director Andrea Berta is effectively bargaining with his former club.

Arsenal had also explored alternatives while the Álvarez deal dragged. Bradley Barcola was one name considered, and the club received encouragement that a move could be feasible as PSG weigh reshaping their attack — but the Parisian club ultimately want to keep the young winger.

Separately, Arsenal remain hopeful of signing Morgan Rogers, though that deal has been slowed by the ongoing World Cup, compounding what was already a drawn-out negotiation.