Atletico Madrid set £128m price tag for Alvarez with Arsenal his only realistic route out

Atletico Madrid have privately concluded that Julian Alvarez will leave the club this summer only if Arsenal table a €150 million (£128m) offer, according to The Athletic — a significant shift from the Spanish club’s previous insistence that the Argentine would not be sold at all.

Alvarez was met with a hostile reception from Atletico supporters at the weekend, having made no secret of his desire to depart. Without naming the club directly, he has indicated that his “dream” destination would be Barcelona. Atletico, however, are categorically unwilling to strengthen a direct La Liga rival, effectively closing the door on that move. Real Madrid registered an interest earlier in the window, but Atletico did not consider their approach to be serious.

That leaves Arsenal as the only credible suitor. The Gunners have been linked with reinforcements in the final third, but a £128m bid for Alvarez would represent an enormous outlay — one that appears unlikely given their current squad composition. Viktor Gyokeres and Gabriel Jesus are both considered genuine centre-forwards at the club, though Jesus is expected to leave. Kai Havertz has been used as a false nine and remains Mikel Arteta’s preferred option to lead the attack.

Gary Neville argued that Alvarez’s arrival would elevate those around him, suggesting that a forward of his profile would unlock a higher level of performance from captain Martin Odegaard by altering the dynamic of Arsenal’s attack.

Back in Madrid, manager Diego Simeone addressed the tension surrounding his squad without directly referencing Alvarez’s situation. “The only thing I know is that if Atletico Madrid want to win a title, we need to be together, we need to have forwards, and we need to have important forwards,” he said.

Goalkeeper Jan Oblak also spoke on the matter, acknowledging the discomfort of the situation. “Julian is here, he’s with us in the team and while he’s with us, we’re going to support him,” he said. “Unfortunately, it’s a situation that isn’t comfortable for anyone, but hopefully all that is sorted out and at the end of the season we can all be happy.”

With Atletico’s refusal to deal with Barcelona forcing the Catalan club to explore alternatives, sporting director Deco confirmed last week that Barcelona would pursue a striker before the transfer window closes, particularly following the exits of Robert Lewandowski and Ferran Torres. “We have solutions in the team, but we will probably make a move before the end of the transfer window,” Deco told TV3.