Arsenal face a major transfer dilemma this summer that could shape the direction of their entire 2026-27 campaign.
A recent report revealed that the Gunners are showing strong interest in Atletico Madrid forward Julian Alvarez.
Julian Alvarez Update
If you remember, I stated there was another attacker I chose to keep anonymous. That player was indeed Julian Alvarez. The reason I said it was sensitive was because one of our players (Gyökeres) was potentially involved but let me just provide the facts… pic.twitter.com/z0vF4B2e2u
— HandofArsenal (@HandofArsenal) June 23, 2026
In fact, Arsenal have been planning a move for the Argentine for the last 12 months.
Manager Mikel Arteta is reportedly a huge admirer of Alvarez and has urged the club hierarchy to position themselves strongly in the race for his signature.
The 26-year-old spent two seasons at Manchester City before moving to Atletico Madrid, but he struggled to consistently dislodge Erling Haaland from the starting XI. He scored 36 goals in 106 games for the Citizens.
His move to Spain has not dramatically elevated his domestic numbers, with Alvarez scoring eight goals in 29 La Liga matches last season.
However, he played a key role for the Spanish giants in the UEFA Champions League, netting 10 goals and providing four assists in 15 games.
Alvarez could be a good signing but Arsenal must avoid making the mistake of including Viktor Gyokeres in any potential swap arrangement.
Atletico have a strong interest in Gyokeres but sending the 28-year-old the other way would be a catastrophic decision.
The Sweden international was pivotal in the second half of the season, helping Arsenal secure the Premier League title and reach the UEFA Champions League final.
While his start to life in England was relatively quiet, he exploded into form when Arsenal needed him most.
Gyokeres finished the Premier League season with 14 goals.
That tally is particularly impressive considering Alvarez never managed to reach the same figure during his time at Manchester City despite playing in one of the most dominant teams in English football history.
Gyokeres is a strong number nine and offers relentless movement and direct threat inside the penalty area, making him a nightmare for defenders.
Arsenal can sign Alvarez but any deal should be structured around strengthening the squad rather than sacrificing one of the key figures behind their recent success.
Stats from Fotmob.com