Arsenal are ready to make a move for Julián Álvarez in the final week of the transfer window if they receive encouragement from either the striker or Atlético Madrid that a deal can be done, sources have told ESPN.
Álvarez is the Gunners’ main attacking target with ESPN first reporting on January 23 that the club were considering a summer move.
Sources say much of the background work on a transfer has been undertaken since — chiefly by sporting director Andrea Berta, who held the same position at Atlético until last year and negotiated Álvarez’s switch from Manchester City in 2024 — so Arsenal can react quickly should a deal become possible.
Sources in Spain suggest Álvarez would prefer a move to Barcelona over a return to the Premier League but Atlético have strongly resisted the idea of selling the 26-year-old to their La Liga rivals.
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Arsenal have positioned themselves as an alternative with Mikel Arteta keen to bolster his attacking options with one week left in the transfer window.
Sources say the club are willing to surpass the club-record £105 million ($143m) fee paid to West Ham for Declan Rice in 2023. Atlético may want as much as €150m if they were to soften their stance.
However, Alvarez’s desire to join Barca combined with Atlético’s resistance to countenance a sale has created a stalemate which led to ugly scenes at Metropolitano Stadium during Sunday’s 2-2 draw with Villarreal. Álvarez’s name was loudly booed when read out before kick-off and he was jeered again when coming on as a 66th-minute substitute.
At full-time, the Argentina international left the pitch rather than acknowledge supporters with his team-mates, a situation which head coach Diego Simeone addressed afterwards.
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“People at the club told me that the club decided he shouldn’t be near the stands and the fans,” Simeone said.
“The decision was made by the club to keep him away and separate him from the rest of the team, so he would come to the locker room instead.”
It remains to be seen whether the backlash forces a change of stance in the coming days.
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Meanwhile, Arsenal are expected to press ahead with other business including the possible departure of Gabriel Martinelli.
Sources have told ESPN the Brazil winger has been deemed surplus to requirements and was left out of the matchday squad for Friday’s Premier League win against Coventry City.
Martinelli has already turned down a move to Galatasaray but now Al-Hilal are willing to test his interest in a move to the Saudi Pro League. The 25-year-old has one year left on his current contract.
