According to ESPN, Arsenal are weighing up a summer move for Atletico Madrid striker Julian Alvarez.
The 25-year-old Argentina international rose to prominence at River Plate before joining Manchester City in 2022. He enjoyed a productive spell at the Etihad, scoring 36 goals and registering 19 assists in 103 appearances, but was often forced to play second fiddle to Erling Haaland.
Alvarez opted for a fresh challenge in the summer of 2024, completing a €75m move to Atletico Madrid negotiated by Andrea Berta. Since then, he has continued to impress, scoring 40 goals in 85 appearances – form that has reportedly caught Mikel Arteta’s eye.
The report suggests Berta’s close relationship with Álvarez’s representatives could give Arsenal an edge in any negotiations, though a deal would likely cost north of €100m. Other clubs, including Barcelona, are in the mix.
With the club already committed to spending €46m to make Piero Hincapie’s move permanent, any pursuit of Alvarez would almost certainly require player sales.
Saudi Pro League clubs are expected to spend heavily again this summer, with Gabriel Martinelli among the names reportedly on their radar. The Gunners might also be open to offers for Gabriel Jesus and Leandro Trossard, whose current deals end in 2027.
For now, Arteta’s focus will be firmly on his existing forward options as Arsenal look to end their five-year wait for major silverware.
The Gunners are not expected to make any January signings unless injuries force their hand, but they continue to monitor several young prospects.
The Athletic reports interest in Real Madrid’s 19-year-old left-back Victor Valdepenas, while Globo Esporte claims Arsenal are tracking Corinthians centre-back Iago Machado, 16, who would not be eligible to move until he turns 18.
Fellow Corinthians youngster Breno Bidon, a 20-year-old midfielder, has also been mentioned as a potential target by TNT Sports Brazil.