Arsenal have been dealt a significant blow in their pursuit of Julian Alvarez after Atletico Madrid chief executive Miguel Angel Gil Marin emphatically insisted the striker will not be sold this summer.
The Gunners have been heavily linked with the Argentina international as Mikel Arteta looks to further strengthen his attacking options following their Premier League title triumph.
However, Atletico have maintained throughout the summer that they want to retain Alvarez despite the 26-year-old publicly expressing his desire for a transfer.
Gil Marin has now delivered his strongest message yet, claiming Atletico would reject offers worth as much as €200million for their star forward.
“My position is clear, the club’s position is clear,” Gil Marin said.
“We have made it known to the player, his representatives and the president of Barcelona.
“We do not want to transfer him. We did not accept an offer of €100million, and we will not accept one of €150million or even €200million.”
The comments were primarily directed at Barcelona president Joan Laporta, with the Catalan giants pushing to sign Alvarez and reportedly making a substantial offer.
Atletico’s position could also have major implications for Arsenal.
The Gunners have maintained an interest in Alvarez, who previously spent two seasons in the Premier League with Manchester City before moving to Madrid in 2024.
Recent reports suggested Arsenal were prepared to explore a deal after Alvarez indicated during the World Cup that he believed leaving Atletico would be the best outcome for all parties.
The Argentina international is understood to favour remaining in Spain, although Arsenal have been mentioned as a possible alternative if his preferred move cannot be completed.
Arteta is a long-standing admirer of Alvarez’s versatility, work rate and ability to operate both as a central striker and across the frontline.
His Premier League experience would also make him an attractive option as Arsenal seek to build on last season’s domestic success and challenge again in Europe.
Nevertheless, Atletico’s public stance leaves any interested club facing a major obstacle.
Alvarez remains under a long-term contract in Madrid and Atletico have little financial pressure to sanction his departure.
Gil Marin also expressed confidence that the striker would remain professional if forced to stay, despite questioning the advice Alvarez has received over his future.
Arsenal’s interest may therefore depend on whether Atletico’s position softens as the transfer window progresses.
For now, however, the Spanish club have made their intentions unmistakably clear: Alvarez remains central to their plans, regardless of the enormous sums being discussed for his signature.