Arsenal and Chelsea remain in talks with Atletico Madrid over a summer transfer move for striker Julian Alvarez, according to Teamtalk.
Alvarez left the Premier League in 2024 after two years with Manchester City, but has been regularly linked with a return since then.
The 26-year-old forward is a regular in Diego Simeone's Atletico side, starting 21 of his 23 La Liga appearances, but is reported to be growing increasingly frustrated with life at the Wanda Metropolitano and could seek an exit in the summer.
Both Arsenal and Chelsea have been credited with an interest in the past, with reports that Arsenal were readying a bid in the January transfer window.
How Much Will It Take To Sign Julian Alvarez?
Julian Alvarez
Alvarez is under contract in the Spanish capital until 2030, and while he has a €500million (£434million) release clause in his contract, it's understood that Atleti would demand a fee worth in excess of €100m (£87million) should they decide to sanction a deal.
Arsenal and Chelsea have both been in contact with Alvarez's representatives in the past few weeks and have been given 'positive reports' that they can complete a deal in the summer.
Alvarez has 11 goals and five assists in 30 La Liga and Champions League games this season, having managed a goal contribution almost every other game during his time in the Premier League with Manchester City, despite regularly playing second fiddle to Erling Haaland.
Pep Guardiola Didn't Want Alvarez To Leave
Manchester City manager Pep Guardiola inside the stadium before playing Man Utd
City boss Pep Guardiola did not want to lose the frontman in 2024, saying that Alvarez made the decision to go because of his limited game time.
Speaking after he left, the Spaniard said: "I don’t feel responsible for Julian’s departure. Julian had already made up his mind to leave Manchester City; he wanted to play all the minutes he’s getting now, which he didn’t have [here].
"He decided to sign with Atletico Madrid, and we’re very happy he’s doing so well with playing time, goals, presence. He helped us a lot to achieve something unique, and seeing good people like him succeed makes us very happy. In life, this happens.”
Guardiola has always been a big fan of the striker, saying after a game in 2024: "Julian is amazing, he’s an extraordinary player and many things help us."
Arsenal And Chelsea Face Competition To Sign Alvarez
julian alvarez-1
The two Premier League sides are not the only ones in contact with the Argentinian, however. Barcelona are understood to hold an interest in signing Alvarez this summer and the Camp Nou is thought to be his preferred destination.
Arsenal and Chelsea will hold an advantage over the Catalan club, though, as Barca will have to wait until their presidential elections are concluded in March before they put their summer transfer plans in place.
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