Man City re-enter Alvarez race as Arsenal wait and Barcelona door slams shut

Manchester City have entered the race to re-sign Julian Alvarez from Atletico Madrid in the final days of the summer transfer window, according to Marca, setting up a potential bidding war with Arsenal for the £128m-rated Argentina international.

Alvarez, 26, has been at the centre of a summer-long saga after telling Atleti he wanted to join Barcelona. The Madrid club ended that pursuit emphatically this week, releasing a board-level statement confirming they will not negotiate with Barca under any circumstances. That decision has left Alvarez weighing two alternatives: a return to the Premier League or staying in the Spanish capital.

City’s renewed interest has been funded, in part, by the sales of Omar Marmoush and Savio to Tottenham for a combined £135m once Marmoush’s initial loan becomes permanent. Atletico signed Alvarez from City for £81m in August 2024, and he is now contracted at the Wanda Metropolitano until June 2030.

Any deal faces significant obstacles. Marca notes that Alvarez remains reluctant to return to England, and Atletico would need to identify a replacement before agreeing to sell. Manager Diego Simeone has been vocal about wanting to keep the forward, who skipped training this week and will not travel with the squad for their La Liga fixture against Sevilla.

“From the moment he returns to training, I will do everything I can to make him feel important,” Simeone said. Asked whether the situation could be resolved, he added: “As long as you have your health, everything in life can be turned around.”

Alvarez has recorded 49 goals and 17 assists in 107 appearances for Atleti. Before his move to Madrid, he contributed 54 goals and 31 assists in 122 games for City. One factor potentially cooling his interest in a return to the Etihad is the continued presence of Erling Haaland — the desire to escape the Norwegian’s shadow was cited as a key reason for his original departure.

Arsenal have been monitoring developments ahead of the 11pm Tuesday deadline and remain in contention. City, meanwhile, are also reportedly considering a move for Chelsea midfielder Enzo Fernandez, valued at over £120m, following the departures of Rodri, Tijjani Reijnders, and Nico Gonzalez this summer.

With four days of the window remaining, Alvarez’s destination is unresolved — though where he will not be going is now beyond doubt.