Arsenal push to sign Julian Alvarez as Atletico Madrid hold firm on £128m valuation

Arsenal are pressing ahead with a move for Atletico Madrid forward Julian Alvarez, though a significant gap remains between the two clubs as the summer transfer deadline draws near. Atletico are demanding €150m (£128.4m) for the 26-year-old Argentina international and have shown no willingness to lower that figure.

The Gunners are nonetheless encouraged that an agreement can be reached, according to reports. Having failed to land Vinicius Jr earlier in the window — the Brazilian ultimately signed a new six-year deal with Real Madrid — Arsenal are determined to secure a marquee attacking addition as they look to retain the Premier League title and improve on last season’s Champions League final defeat to Paris Saint-Germain on penalties.

Manager Mikel Arteta has a specific role in mind for Alvarez on the left side of attack, a position that has become a priority following Leandro Trossard’s departure earlier in the summer. Gabriel Martinelli is also expected to leave, with Al Hilal among those interested, adding further urgency to Arsenal’s pursuit. Alvarez, who can also operate as a central striker, is familiar with English football from his time at Manchester City.

From Alvarez’s perspective, his preference is to remain in Spain, but Atletico have made clear they will not sell to Barcelona. That stance has given Arsenal reason for optimism, as a move to the Nou Camp appears blocked. However, the reception Alvarez received from Atletico supporters — booed when he came off the bench in Sunday’s draw against Villarreal — suggests his relationship with the club’s fanbase has already soured.

Atletico’s financial position complicates Arsenal’s negotiating hand. The Madrid club are under no pressure to sell and have held their €150m line since the window opened, a stance underlined when they publicly rejected a Real Madrid bid at the start of the summer. Alvarez also has four years remaining on his contract, removing any urgency on Atletico’s part.

Arsenal will attempt to drive the price down in the coming days, but with the deadline looming, time is running short for the Premier League champions to close the gap.