Arsenal's ongoing pursuit of Atletico Madrid superstar Julian Alvarez has taken a big twist
MADRID, SPAIN - AUGUST 23: Julian Alvarez of Atletico de Madrid looks on during the LaLiga EA Sports 2026/27 match between Atletico de Madrid and Villarreal CF at Riyadh Air Metropolitano on August 23, 2026 in Madrid, Spain. (Photo by Angel Martinez/Getty Images)
Alvarez was loudly booed by Atletico Madrid fans over the weekend(Image: Angel Martinez, Getty Images)
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It has already been a busy summer at the Emirates this summer but Arsenal's business could be about to reach fever pitch. A £75million deal to prise Bruno Guimaraes away from Newcastle United has been the headline move, while Aston Villa's Ezri Konsa has also made the switch to north London for £51million, bolstering Mikel Arteta 's defensive options.
Belgian winger Christos Tzolis has also joined the ranks from Club Brugge for approximately £34million. The clock is ticking, however.
The Gunners have precious little time left to add to their squad before the transfer window closes its doors at 11pm on September 1. Out of all Arsenal's deals this summer, their ongoing chase for Atletico Madrid striker Julian Alvarez has truly captured the imagination of the Gunners faithful.
Arsenal have already missed out on Morgan Rogers, who chose Chelsea, and Vinicius Junior, who committed his future to Real Madrid, making the Argentine a priority target. Today's Arsenal news brings two pivotal developments surrounding Alvarez, with a potential blockbuster swap deal amongst the latest murmurings.
Alvarez statement
Atletico Madrid have issued a strongly-worded statement in response to speculation linking Barcelona with a move for Alvarez, firmly insisting their prized asset will not be departing for the Camp Nou this summer. It's a development that could work in Arsenal's favour as they look to land the former Man City forward.
The 26-year-old Argentine is understood to favour a switch to the Catalan club. Yet in a statement to Marca, Atletico said: "There is a 0% chance of selling Julian Alvarez to Barcelona. The player is being portrayed as the victim, but the only victims of the Julian saga are us. This is about dignity."
Atleti were held to a 2-2 draw with Villarreal on Sunday, with the forward jeered by his own supporters. The image of Alvarez distancing himself from his team-mates as they acknowledged the Atletico faithful has only intensified the swirling transfer rumours surrounding the Argentine.
Arsenal have been linked with a move for Atletico Madrid striker Julian Alvarez.
Arsenal have been linked with a move for Atletico Madrid striker Julian Alvarez.(Image: (Photo By Oscar J. Barroso/Europa Press via Getty Images))
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Atletico boss Diego Simeone revealed that both Alvarez and the club had mutually agreed he should avoid engaging with supporters inside the ground while the situation remains unresolved. The Atletico manager said: "It was a club decision to not let Julian Alvarez go over with his teammates to greet the fans."
Ahead of the Villarreal fixture, Simeone was emphatic in his desire to retain the striker. "For me, Julian is an extremely important player for us to achieve our objectives," he said. "As long as he's with the team, I'm going to look after him."
Exchange deal
While Alvarez is understood to have his heart set on a move to Barca, he is also reportedly receptive to the prospect of linking up with Arsenal. According to the Independent, Atletico are keen for the matter to be resolved one way or another by Friday.
LONDON, ENGLAND - AUGUST 9: Viktor Gyokeres of Arsenal during the during the pre-season friendly match between Arsenal FC and Borussia Dortmund at Emirates Stadium on August 9, 2026 in London, England. (Photo by Jacques Feeney/Offside/Offside via Getty Images)
Viktor Gyokeres has been linked with a swap deal(Image: Jacques Feeney/Offside/Offside via Getty Images)
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The same report suggests the Gunners could hold a distinct advantage given that they possess two players who "appeal" to Atletico in Gabriel Jesus and Viktor Gyokeres. It is claimed that one — or potentially both — could feature as part of a swap arrangement, in addition to a transfer fee.
It remains unclear how Arsenal would react if presented with such an offer, although they did make clear earlier in the summer that Gyokeres was very much part of their plans for this campaign. Indeed, he featured as a substitute in the Community Shield triumph over Man City.
However, with the transfer window deadline now fast approaching, it could be a case of watch this space if they wish to secure a deal for Alvarez.