**Julian Alvarez to Arsenal has moved back into focus after the Gunners were forced to reassess their attacking targets following Vinicius Junior’s decision to stay at Real Madrid.**
Fresh reporting now places the Atletico Madrid forward at the top of Mikel Arteta’s wishlist, although Barcelona remain a major obstacle.
Arsenal have spent much of the summer exploring elite additions to their attack, with Vinicius among the most ambitious options considered.
His new six-year Real Madrid contract has now closed that route.
[talkSPORT reports that Alvarez is currently at the top of Arsenal’s attacking wishlist](https://talksport.com/football/4496515/arsenal-iliman-ndiaye-everton-vinicius-barcola-julian-alvarez-transfers/), with the Argentina international looking to leave Atletico this summer.
However, Alvarez is understood to favour Barcelona if a suitable move becomes possible.
Barcelona’s position makes this far from a straightforward deal for Arsenal.
Atletico would reportedly prefer not to strengthen a direct La Liga rival, potentially making a sale abroad more attractive if Alvarez does leave Madrid.
That could give Arsenal an opening.
The Gunners were already assessing several alternatives before Vinicius committed his future to Real. [ReadArsenal examined the changing attacking picture on Friday morning](https://readarsenal.com/2026/08/07/arsenal-news-today-vinicius-blow-and-martinelli-transfer-twist/), with Andrea Berta facing a major decision over where to invest next.
Bradley Barcola and Iliman Ndiaye have also been discussed, while Alvarez would provide a different profile.
The 26-year-old can operate through the middle, alongside another striker or from wider positions. His Premier League experience from Manchester City would also reduce some of the uncertainty attached to another major investment.
There is currently no indication Arsenal have submitted a new offer to Atletico.
For now, the significant development is the position Alvarez now occupies on Arsenal’s shortlist.
Barcelona may remain his preferred destination, but Atletico’s reluctance to sell to a domestic rival gives **Julian Alvarez to Arsenal** a route that is still worth watching.