Arsenal are aware of the situation surrounding Julian Alvarez ahead of a potential move for the Atletico Madrid forward this summer.
Alvarez is considering leaving Atletico at the end of the current campaign amid interest in the Argentine from top clubs. The Spanish side have received initial enquiries from several clubs regarding Alvarez, as interested teams seek to understand the conditions of a summer transfer.
The 25-year-old has scored 40 goals in 85 games across all competitions for Atletico, since joining the club from Manchester City in an £81.8m deal in 2024.
City were reluctant to lose Alvarez, who had been an important part of the club's treble-winning season in 2022-23. However, a lack of regular football in his preferred centre-forward role, given the presence of Erling Haaland, saw Alvarez depart. He has since starred in Spain, scoring 17 La Liga goals during his debut season at Atleti.
Barcelona have earmarked Alvarez as a long-term successor to Robert Lewandowski. The latter's deal at the Camp Nou is due to expire in the summer and the expectation is that Lewandowski will leave Catalonia.
Barcelona sporting director Deco has already held meetings with Atletico Madrid to discuss Alvarez, while Arsenal are also informed.
Transfer insider Ben Jacobs has claimed that sporting director Andrea Berta, who held the same position at Atletico when Alvarez arrived in the Spanish capital, has spoken to his former team as he looks to understand the summer market, with a forward and left-winger on Arsenal's agenda.
Both Barcelona and Arsenal are also among the clubs tracking Levante striker Karl Etta Eyong, but face competition from Manchester United and Real Madrid.
The clubs are all tracking the 22-year-old Cameroonian who has been one of La Liga's breakout players in 2025-26. Etta Eyong has scored six goals in La Liga this season.