By any standard, Julián Álvarez has proven to be a successful acquisition for Atlético Madrid.
After transferring from Manchester City for an initial €75 million in 2024, the Argentine striker is on the verge of hitting the milestone of 50 goals for the club as he enters his third season in LaLiga. However, following his public announcement of wanting to leave this summer, he has encountered discontent from Atlético fans.
The club has consistently maintained that their star player will stay at the Estadio Metropolitano for this season. Nevertheless, sources informed ESPN that both Spanish and English champions are still optimistic about signing Álvarez before the transfer window closes next week, with a potential fee around €150 million.
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Barcelona have prioritized the forward for leading their attacking line, while Arsenal‘s pursuit may be more feasible due to their Premier League title victory last season.
Could the player who “completed football” in the 2022-23 season—capturing the UEFA Champions League, Premier League, and FA Cup with City and the FIFA World Cup with Argentina—be the centerpiece of a significant transfer by the end of the summer window? Or will Atlético affirm their statements and retain their key player?
ESPN correspondents in Barcelona (Sam Marsden), London (James Olley), and Madrid (Alex Kirkland) provide the latest updates on the ongoing situation and what might unfold next.
Barcelona’s attempt to sign Álvarez has turned into one of the most prolonged—and at times frustrating—narratives of the summer. ESPN reported back in January that the Argentine forward was at the top of Barça’s wishlist to replace the aging Robert Lewandowski, who had an uncertain future at the club. With Lewandowski’s subsequent transfer to Chicago Fire and Ferran Torres‘ move to Paris Saint-Germain intensifying interest in Álvarez, negotiations have been fraught.
The Spanish champions understood that negotiations with Atlético would be complex but hoped that Álvarez’s desire to join them would facilitate discussions. Unfortunately, Álvarez’s July remarks, stating that a “transfer would be best for all parties,” did little to aid in advancing talks. As confirmed by Barça president Joan Laporta, the initial offer of just over €100 million still sits on the table.
However, Atlético, led by CEO Miguel Ángel Gil Marín, have shown no intent to negotiate with Barça, accusing them of attempting to induce Álvarez’s transfer and reporting them to FIFA and the Spanish football federation (RFEF). In this context, ESPN detailed last week that Barça, frustrated by the lack of progress, had suspended their pursuit of Álvarez while exploring alternative options.
With the transfer window nearing its conclusion, all possibilities remain open. Barça is monitoring how last weekend’s events, when Álvarez faced intense jeers from Atlético fans during their 2-2 tie against Villarreal, may change the scenario. Should Atlético signal a willingness to transfer him and Arsenal fails to persuade him, Barça is still poised to act. Despite spending over €160 million this summer, the Catalan club remains in a position to afford a deal, although it’s uncertain how high their offer could reach.
In the meantime, the club is also examining other strikers potentially available this week. With Egyptian teenager Hamza Abdelkarim being the only natural No. 9 in the squad, coach Hansi Flick is eager to add another forward. Nevertheless, with a flexible attacking lineup featuring players like Raphinha, Lamine Yamal, Anthony Gordon, Karim Adeyemi, and Dani Olmo, there is consensus with sporting director Deco that they won’t rush into a signing unless it’s the right fit.
If they choose not to sign anyone and Álvarez stays at Atlético, this ongoing saga may linger into January. — Sam Marsden
1:24
Hislop: Arsenal should sign Julian Alvarez
Arsenal has quietly positioned themselves as a potential compromise solution in this situation.
Their advantage lies in Andrea Berta, the sporting director who formerly held the same position at Atlético until 2024. Berta negotiated the contract that Álvarez signed upon joining from Manchester City, giving him deep insight into those contractual details as well as established relationships with the player, his agents, and senior officials at the club.
After ESPN reported Arsenal’s interest last January, the club has been diligently preparing for a potential deal, enabling them to act swiftly if Atlético or Álvarez offers any sign that a transfer is feasible.
Arsenal is aware that Álvarez’s preference leans toward joining Barcelona, thus a subtle approach is necessary: reassuring him of their presence, offering a competitive salary package, and being willing to exceed their transfer record (currently an initial £100 million for Declan Rice), all while being cautious in their dealings with Atlético.
Kai Havertz has kicked off the season on a strong note, and winger Christos Tzolis appears to be a promising addition on the left. However, sources indicate that coach Mikel Arteta is eager to bolster his attacking options before the transfer window closes. Although they acquired Viktor Gyökeres for €63.5 million last summer as a replacement for Havertz, the Gunners feel they still lack a certain level of individual brilliance in their attack—a game-changing talent. Trying to land Real Madrid‘s Vinícius Júnior illustrated their intent to be ambitious in the transfer market. Securing Álvarez would undoubtedly be a significant summer addition across the Premier League, solidifying their favorites’ status and enhancing their Champions League prospects.
There are even unconfirmed rumors that they might allow Gyökeres to be included in a deal for Álvarez, providing a solution for Atlético’s needs.
Arsenal is attempting to maintain flexibility in their discussions. They now await clear signals from Atlético and Álvarez in the closing days of the transfer window. — James Olley
1:01
Nicol: Atlético need to stop hiding Julián Alvarez
Currently, Álvarez’s situation appears quite isolating. Remaining at Atlético is becoming increasingly untenable.
What transpired at the Metropolitano on Sunday was notable for its negativity. Álvarez was severely booed when his name was announced before kickoff, and the whistles continued during his warm-up and once he entered the game in the second half. Following the match, attempts were made to mitigate the fan backlash by asking Álvarez to head straight to the tunnel rather than joining teammates in acknowledging Atlético’s ultras. This seemed to protect him but ultimately highlighted his sense of alienation.
Atlético has unequivocally stated—both publicly and privately—that they will not entertain a transfer to Barcelona.
“We are committed to supporting Julián and aiding him in reaching his optimal potential,” Gil Marín remarked last week. “Julián’s advisers have not provided him with the best guidance in recent times.”
However, their determination to keep the forward may be tested if the current animosity persists. As it stands, it could negatively impact Atlético’s ambitions this season. Despite facing these challenges, coach Diego Simeone is doing his best to handle the situation, asserting: “To win titles, we must stay united; we need forwards and key players.” This offers a positive perspective amidst a challenging scenario.
The lingering issue remains: Álvarez has only signaled a desire to join Barça, the very club Atlético refuses to negotiate with. Compromise will be necessary before the transfer deadline, or this uncomfortable standstill—potentially a detrimental outcome for all—will continue until January. — Alex Kirkland