Arsenal face a steep bill as Atlético Madrid hold firm on Julian Alvarez
Arsenal could be looking at a British transfer record fee as Atlético Madrid are reportedly holding out for €100 million for Julian Alvarez this summer, per Mundo Deportivo. The Gunners, along with Barcelona and Paris Saint-Germain, are firmly in the race for the Argentine forward ahead of the 2026-27 season.
Arsenal’s sporting director, Andrea Berta, still has a strong link with Alvarez’s agent, Fernando Hidalgo, after personally handling the striker’s €95 million move from Manchester City to Atlético in August 2024. That existing rapport gives Arsenal a serious advantage in talks, even if the price tag is staggering.
With Alvarez under contract until 2030 and Atlético under no pressure to sell, Diego Simeone’s side are in total control of the situation. The Argentine has picked up eight goals and four assists across 29 La Liga games this season, averaging 0.57 goal involvements every 90 minutes. His non-penalty expected goals (npxG) of 7.40 put him in the top 11% of La Liga forwards, making it clear why three of Europe’s biggest clubs are after him.
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Do Arsenal actually need Alvarez when Gyökeres is settling in?
Viktor Gyökeres is finally starting to look like the elite number nine Arsenal needed, which makes you wonder if spending £130 million on Alvarez makes sense, especially when the left wing seems like a bigger priority. That said, Alvarez brings something unique to the table. His movement between the lines, work rate off the ball, and ability to play as a second striker or out wide mean he’d likely play alongside Gyökeres rather than just replace him.
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Averaging 32 completed passes per game and 2.22 key passes, he is more of a link-up player than a pure finisher. But Alvarez’s eight goals in 29 games aren’t exactly world-class output for a player who costs nine figures. Arsenal would also need to sell players first to stay on the right side of the Premier League’s financial rules. All the same, Berta’s personal connection to Alvarez’s camp means there’s a lot more to this story than just simple transfer rumours.
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