Arsenal’s deadline-day pursuit of Julian Alvarez is over after the Atletico Madrid striker decided to remain in Spain beyond the summer transfer window.
The Gunners had remained ready to move for the Argentina international if he gave them encouragement, with Mikel Arteta personally speaking to Alvarez as Arsenal attempted to convince him to return to the Premier League.
That possibility has now been shut down.
TNT Sports reports Alvarez has informed Atletico sporting director Mateu Alemany that he will not leave the club this summer, ruling out a late switch to Arsenal or Barcelona.
🚨Julian Alvarez has decided to stay at Atletico Madrid this summer.
As it stands, Arsenal’s current business for this transfer window is over.
Mikel Merino, Viktor Gyokeres and Kai Havertz will be the centre-forward options.
Christos Tzolis and Eberechi Eze will cover the… pic.twitter.com/DIh7ArliK1
— now.arsenal (@now_arsenaI) September 1, 2026
Julian Alvarez makes final Arsenal transfer decision
Alvarez had spent much of the closing stages of the window at the centre of one of Europe’s biggest transfer stories.
Barcelona were his preferred destination, but Atletico publicly refused to negotiate with their La Liga rivals.
That left Arsenal as the principal alternative.
Sky Sports previously reported that Atletico’s position effectively gave Alvarez two choices: remain in Madrid or consider Arsenal. The Gunners maintained dialogue with Atletico but believed a deal would require strong encouragement from the player before formal negotiations began.
Arteta then became personally involved.
The Guardian reported that the Arsenal manager had spoken to Alvarez in an attempt to persuade the former Manchester City forward to move to north London. Alvarez continued to favour Barcelona despite Arsenal’s interest.
Read Arsenal covered that late push when Arteta made a personal attempt to convince Alvarez. Read Arsenal: Arteta’s personal Julian Alvarez push
Arsenal miss out despite room for major signing
Arsenal had positioned themselves to act if Alvarez changed his mind.
Gabriel Jesus has now completed his move to Barcelona, while Gabriel Martinelli and Fabio Vieira have also been heading towards exits as Arteta’s squad undergoes another late-window reshuffle.
The Guardian reported that the three deals were worth more than £70million collectively and that Arsenal were continuing to seek attacking reinforcements.
Arsenal also explored a move for Lyon winger Malick Fofana before deciding against meeting the conditions required for that transfer.
That made Alvarez the outstanding blockbuster possibility heading into the final hours.
But finances were never the only obstacle.
The decisive issue was whether Alvarez actually wanted Arsenal.
TNT Sports now reports that the 26-year-old has chosen to remain with Diego Simeone’s side for the time being, with Barcelona still viewed as his preferred long-term destination.
Arsenal can finally move on from Alvarez saga
For Arsenal, there is at least clarity.
The club no longer needs to reserve the final hours of deadline day for the possibility of Alvarez changing his position.
Arteta’s side can either move quickly for another attacking opportunity or finish a hugely active summer with their existing options.
Arsenal have already strengthened significantly and started their Premier League title defence with two victories, including Sunday’s 1-0 win at Aston Villa.
There was therefore little reason to commit enormous resources to a player who was not convinced about the move.
Alvarez was the outstanding opportunity if he said yes.
He has now made his decision, and Arsenal’s pursuit is over.
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