Arsenal have received a boost in their pursuit of Julian Alvarez
Julian Alvarez of Atletico de Madrid and Gabriel Martinelli of Arsenal FC battle for the ball during the UEFA Champions League 2025/26 League Phase MD3 match between Arsenal FC and Atletico de Madrid at Arsenal Stadium on October 21, 2025 in London, United Kingdom.
Julian Alvarez and Gabriel Martinelli are both being linked with moves(Image: Getty )
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Arsenal’s transfer activity is showing no signs of slowing down as we approach deadline day on September 1. With time ticking on for sporting director Andrea Berta to complete the Gunners’ final pieces of business, several more deals could be finalised in the coming days.
The Premier League champions have strengthened considerably this summer, spending around £200million on five new additions - Piero Hincapie, Illan Meslier, Christos Tzolis, Bruno Guimaraes and Ezri Konsa. However, they still lack the world-class forward Mikel Arteta has so often suggested he requires, though they are not giving up on their pursuit of £128m-rated Julian Alvarez.
Meanwhile, Gabriel Martinelli is reportedly on his way out after losing his place in the Arsenal squad at the start of the 2026/27 campaign, meaning he could be the second winger to leave N5 this summer following the departure of Leandro Trossard to Besiktas.
Atletico make Alvarez statement
Atletico Madrid have released an extraordinary statement reiterating they will not sell Alvarez to Barcelona this summer. The Argentine striker, who is Arsenal’s top transfer target in the remaining days of the window, has made his preference clear all summer that he wants to join the Catalan giants.
But Atleti insist they will not let their talisman join a La Liga rival under any circumstances. Atletico’s board continues to support the club management’s decision in a potential boost for the Gunners, who have waited until the end of the summer to see whether Alvarez will opt to remain in the Spanish capital, or move to north London once his dream transfer to Barca fails.
Julian Alvarez looks on before an Atletico Madrid game
Atletico Madrid are blocking Alvarez's transfer to Barcelona(Image: Getty Images)
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The statement read: "The members of Atletico de Madrid's board of directors have unanimously expressed their absolute support for the club's decision to not negotiate the transfer of Julian Alvarez to FC Barcelona.
"The members of the board of directors acknowledge that Atletico de Madrid is open to standard transfer market negotiations when conducted in a professional, ethical and respectful manner.
"We fully stand behind the club’s previously communicated position that FC Barcelona failed to meet these requirements and, as a result, there will not be any negotiation and there is zero consideration of an Alvarez transfer to Barcelona.
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"Atletico de Madrid trust that our player will understand the decision and will remain focused on helping the club achieve its goals, just as he has done during the two seasons he has been defending our colours."
The striker received a chorus of boos during Atletico’s draw at home against Villarreal recently when he came off the bench, before exiting down the tunnel on his own at full-time without applauding the fans. The World Cup winner has reportedly missed training on two consecutive days since.
Green light to sign Martinelli replacement
Malick Fofana celebrating a goal for Lyon
Lyon may need to sell Malick Fofana(Image: Getty)
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Arsenal can reportedly sign the perfect replacement for Martinelli due to Lyon’s ongoing financial problems. Arteta is set to be left short of left wingers despite Tzolis’ arrival, which was always meant to be in addition to the north Londoners signing a marquee player in that position.
But, after falling short of primary targets Morgan Rogers and Vinicius Junior, 21-year-old Lyon starlet Malick Fofana has been linked with a move to the Gunners. And the Belgian international has suddenly become much more affordable after the French side’s failure to qualify for the Champions League, according to FourFourTwo.
Lyon lost their Champions League play-off second leg tie against Fenerbahce this week and missed out on at least £15.7m through qualification, which will not help their recent struggles to balance the books. The Ligue 1 side must reportedly generate £86m before June 30, 2027 or risk sanctions from the relevant financial and regulatory bodies.
As such, Lyon’s desperation could see them list Fofana for sale at a fraction of his market value in order to ensure they obtain the required funds to avoid being penalised.