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ALVAREZ CROSSROADS

Julian Alvarez open to Arsenal transfer as Atletico Madrid demand £129m

By Maryam Shabi·2 min read·21 August 2026
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Julian Alvarez open to Arsenal transfer as Atletico Madrid demand £129m

Julian Alvarez is considering moving to Arsenal this summer despite his reservations about returning to England, according to Spanish journalist Pedro Morata (via Goal.com). The forward had previously made Barcelona his only preferred destination, but with the Catalan club stepping back, Arsenal has emerged as a live option before the transfer window closes.

Morata reports that Alvarez is will decide today whether to open negotiations with Arsenal or stay at Atletico Madrid, with the situation currently split 55-45 in favour of remaining in Spain.

Talks between the clubs have advanced. Atletico director of football Mateu Alemany travelled to London to meet Arsenal representatives, according to Fabrizio Romano. Arsenal have tabled an opening bid of £103 million plus £4 million in add-ons, but Atletico are holding out for £129 million. Atletico are reportedly willing to negotiate in part because they view Viktor Gyokeres as a replacement, though the gap in valuation remains a significant obstacle, with club CEO Miguel Angel Gil Marin previously stating he would not accept offers of €150m or €200m.

The mood around Alvarez in Madrid has shifted. He was left out of Atletico's opening La Liga fixture, a 2-0 win over Malaga, and was met with hostile chants from the home support. Manager Diego Simeone put the omission down to fitness, saying Alvarez was not "in the right condition" to feature, but the timing has fuelled speculation that a departure is close.

Arsenal must now decide whether to raise their offer to bridge the gap with Atletico's demands before the deadline. Alvarez is expected to give his final answer today, with manager Mikel Arteta ready to turn to alternative attacking targets if talks break down.

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Julian Alvarez open to Arsenal transfer as Atletico Madrid demand £129m