Discussions are said to have taken place between the Blues and Alvarez’s representatives, with agents jetting into England for a recent Chelsea fixture. Positive talks are said to have been held during those meetings.
ESPN journalist Jorge Baravalle has said: “I insist, people are talking about a lot with Barcelona and Arsenal. But I’m being told that the team slowly moving forward is Chelsea. Chelsea, quietly, are advancing for Julian Alvarez.
“I’m told there are conversations. In fact, part of the agency handling Julian’s transfer was in London this week, watching Chelsea v Arsenal. They know both clubs want him, but what I’m being told is that, as of today, the most advanced contacts are with Chelsea.”
Atletico would be reluctant to do business with La Liga rivals Barcelona, with the Catalan giants known to be enduring financial difficulties. Chelsea and Arsenal would find it easier to generate the funds required to get a deal done.
Alvarez is tied to a contract through to 2023, so his current employers are under no pressure to cash in or accept reduced terms. They are reluctant to sanction a sale, with the player himself offering no indication that he will be pushing for a move.
The Argentine has told reporters when asked about his future, with speculation continuing to rage in 2026: “Look, it doesn’t bother me. I try not to pay much attention, but I know what’s being said. It’s all over social media. I think it’s more what’s being said online than what’s actually happening. I’m very focused on this season, on what lies ahead with Atletico Madrid. So, I try to tune it out and think about myself, about continuing to grow as a player, and about winning.”