Arsenal have endured a quiet January transfer window with the majority of focus on the club's upcoming plans for next summer.
07:00, 29 Jan 2026
Arteta smiles on the training ground.
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Mikel Arteta and Arsenal are big admirers of Julian Alvarez.(Image: (Photo by David Price/Arsenal FC via Getty Images))
Arsenal are preparing for a significant summer transfer window, with departures taking precedence in January. The Gunners have already sanctioned Ethan Nwaneri's loan transfer, while Oleksandr Zinchenko is poised to complete a permanent exit, and attention has now turned to Christian Norgaard.
The summer acquisition has scarcely featured for Arsenal this campaign, prompting interest from several European clubs. While a January exit appears improbable, a summer sale remains possible, offering Arsenal ample opportunity to secure a replacement - with a player in that position already under consideration.
Atletico Madrid forward Julian Alvarez remains another target, with speculation continuing to link him with a switch to the Emirates Stadium. Recent developments have sparked considerable debate, with manager Diego Simeone and club president Enrique Cerezo offering conflicting statements.
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With that in mind, football.london has examined the latest Arsenal transfer speculation and developments as the winter window deadline approaches;
Atletico chief discusses Alvarez future
Alvarez's goal drought in La Liga has stretched to 10 matches, prompting club president Cerezo to make a candid admission last week.
Speaking to reporters, Atletico's president said: "He's going through a moment where we don't know what's happening to him."
Manager Simeone offered a markedly different take when questioned about whether the striker retained the supporters' backing.
He responded: "Seriously? Are you seriously asking me that? The truth is that Julian Alvarez speaks for himself because of the name he has, the authority he carries, and the career he's built, right?".
Julian Alvarez in action for Atletico Madrid.
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Julian Alvarez is an Arsenal transfer target for the summer.(Image: Anadolu via Getty Images)
The former Manchester City forward may well be affected by ongoing transfer speculation, with ESPN recently reporting that Arsenal are considering a summer move for Alvarez.
They have also indicated that an informal approach regarding his availability has already been made.
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Arsenal 'eager' for in-demand £48m star
Freiburg midfielder Johan Manzambi is having an impressive year in Germany, which has subsequently attracted Premier League interest. Sports Boom have reported that Arsenal, Chelsea and Manchester United are all keen to secure his signature.
Their report suggests his price tag could prove problematic, however. Freiburg are understood to be seeking between €50m-€55m (£43m-£48m), and are naturally reluctant to part with an academy graduate.
The player has featured 26 times across all competitions this campaign, contributing four goals and five assists.