According to reports, Chelsea are making progress in their search for Julian Alvarez and getting regular updates on the striker’s situation. Both the Blues and Arsenal reportedly receive weekly updates on the Argentine’s situation at Atletico Madrid, where the 26-year-old is considering his future at the Metropolitano Stadium.
It is believed that Alvarez is considering leaving Atletico Madrid this summer, with Barcelona his first choice. However, if the Catalan giants can’t meet Atletico’s financial demands, the World Cup winner would rather move to London, where both Chelsea and Arsenal have shown real interest in signing him.
The forward has had a tough time at Atletico Madrid lately, especially in front of goal during the 2025–26 season. Alvarez has scored seven goals and assisted on three others in La Liga this season, which is below what was expected of a player of his level. He recently broke an 11-game goal drought by scoring against Barcelona in the Copa del Rey semi-final.
Sources close to the talks say that Atletico Madrid have made it very clear that they will not let Alvarez’s future turn into a long summer story. The club have given any possible transfer a deadline of August, so their star forward won’t be the subject of any more rumors while they get ready for the season.
Atletico want more than £100 million for their forward. They want a price that is similar to what they got when they sold Antoine Griezmann to Barcelona in 2020, which was a record for the club. Alvarez moved from Manchester City to Atletico in 2024 for up to €95 million. The club are determined to make money on their big investment in the Argentine international.
Why Chelsea Want Alvarez
Under head coach Liam Rosenior, Joao Pedro has become Chelsea’s main striker, but even his contributions have not fully met the club’s goals for consistent excellence in front of goal. Chelsea are said to be ready to get back the full £30 million they spent on Delap, who has struggled, when the summer transfer window opens. They know that the England Under-21 international hasn’t had the impact they were hoping for.
The Blues’ interest in Alvarez shows a shift from seeking potential to seeking proven quality. Alvarez’s record at the highest level guarantees things that younger players can’t offer at this point in their development. Chelsea seem determined to fill the striking department with talent and competition for places, as Emmanuel Emegha is set to join the team from Strasbourg in the summer.