Arsenal have reportedly been given the green light to sign Julian Alvarez this summer, with Atletico Madrid willing to consider a £111 million deal for the striker.
The Gunners remain interested in Alvarez despite missing out on several attacking targets this summer, including Morgan Rogers, Vinicius Junior and Bradley Barcola.
According to Argentinian outlet BolaVIP, Atletico boss Diego Simeone has given approval for the club to sell Alvarez, although Barcelona remain ruled out as a destination.
Atletico are reportedly prepared to accept €130m (£111m) for the Argentina international, potentially opening the door for Arsenal to make a move.
READ MORE: Arsenal handed green light to sign Gabriel Martinelli replacement
“Arsenal wants him, but it remains to be seen if they are willing to pay €130 million for the attacker,” the report states.
“What is clear is that if that money becomes available, the Spider will say goodbye to Atlético Madrid after two years there.”
Alvarez is understood to be Barcelona’s preferred target to eventually replace Roberto Lewandowski, but Atletico have maintained that they will not sell their star striker to their direct rivals.
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That stance could give Arsenal an opportunity, with previous reports suggesting the Gunners could be Alvarez’s “only option” should he decide to leave Atletico but remain unwilling or unable to join Barcelona.
However, the biggest obstacle could be convincing Alvarez himself.
The striker has reportedly been intent on joining Barcelona, meaning Arsenal would need to persuade him that a move to north London is the right next step in his career.
There could also be another route for Arsenal to get a deal done.
Spanish outlet AS claims a swap involving Viktor Gyokeres could be possible, with the report stating: “They [Arsenal] have the €150m and a bargaining chip (Gyökeres).”
“The agreement between the clubs exists. Only [agreement with] the player is missing.”
Meanwhile, Arsenal are set to receive a significant boost to their transfer funds through the expected sale of Gabriel Martinelli.
Journalist Nicolo Schira claims Martinelli’s move to Saudi Pro League side Al-Hilal is at the final stage, with a €60m fee reportedly being discussed.
Schira added that Martinelli has agreed a contract running until 2030 worth €20m per year, with the remaining details expected to be finalised.
If Martinelli’s departure is completed, Arsenal would have further funds available as Mikel Arteta considers whether to make one final major attacking addition.
With Atletico seemingly willing to sell Alvarez and Barcelona effectively blocked from the deal, Arsenal now have a potential route to one of Europe’s elite forwards — but the decision could ultimately rest with the player himself.
Atletico Madrid
Atletico Madrid
Arsenal sporting director Andrea Berta
Arsenal sporting director Andrea Berta