Julian Alvarez’s future has become one of the biggest talking points of the summer transfer window, with Arsenal closely monitoring the increasingly bitter dispute between the Argentina international and Atletico Madrid.
The 26-year-old forward was booed by sections of Atletico’s supporters during Sunday’s 2-2 draw with Villarreal, adding another dramatic chapter to a transfer saga that has dominated headlines in recent months.
Alvarez reportedly wants to leave Atletico and join Barcelona, but the Spanish club have made it clear they have no intention of allowing him to move to their domestic rivals.
That stance could open the door for Arsenal, who have long regarded the former Manchester City striker as one of their dream transfer targets.
Arsenal’s interest in Alvarez has been known for much of the summer, although the Premier League champions initially kept their distance because they understood that the player’s preferred destination was Barcelona.
With Atletico refusing to negotiate with the Catalan club, however, Arsenal are now considering whether they can take advantage of the situation before the transfer deadline on September 1.
Manager Mikel Arteta and sporting director Andrea Berta are understood to be interested in the forward, but they also recognise that a deal depends almost entirely on Alvarez changing his mind.
The Argentine has so far shown little enthusiasm for a move to London because his priority remains Barcelona.
There are also family considerations surrounding a potential move to England, including visa regulations that could make visits from relatives more complicated.
Despite those obstacles, there has reportedly been a slight change in Alvarez’s position in recent days.
Atletico remain determined to keep control of the situation and have reportedly placed a £128m price tag on Alvarez.
The Madrid club have already demonstrated their unwillingness to sell him to Barcelona, even amid growing tension between the player and the club.
Atletico president Enrique Cerezo has repeatedly insisted that Alvarez remains an important member of the squad and is expected to stay.
The club have also publicly mocked Barcelona’s pursuit of the striker, accusing the Catalan side of helping to create a smear campaign around the player.
That has left Alvarez facing a difficult choice.
If Atletico continue refusing to negotiate with Barcelona, Arsenal could effectively become the only realistic alternative for the forward if he remains determined to leave Madrid.
Arsenal are reportedly confident they have the financial capacity to complete the transfer quickly should Alvarez give them the green light.
Alvarez joined Atletico from Manchester City in August 2024 for a reported £81m after an impressive spell at the Etihad Stadium.
He scored 36 goals in 106 appearances for City and won six major trophies, including the Premier League, FA Cup and Champions League Treble in 2023.
Since moving to Atletico, he has continued to produce impressive numbers, scoring 49 goals in 107 appearances.
However, he is yet to win a major trophy with the Madrid club.
The relationship between Alvarez and Atletico appears to have deteriorated significantly during the current transfer dispute.
His representatives have expressed frustration with the way the club have handled the situation, while Alvarez himself previously indicated that he believes a transfer would be the best solution.
The player is reportedly uncomfortable with the public nature of the dispute but remains keen on securing a move away from Atletico.
Barcelona remain interested in Alvarez but face the major obstacle of Atletico’s refusal to sell to them.
The Catalan giants have reportedly begun considering alternatives, with Arsenal striker Viktor Gyokeres among the players they could turn to if they abandon their pursuit of Alvarez.
That development could further complicate the situation for the Argentine.
For now, Arsenal appear ready to act if Alvarez decides that remaining at Atletico is no longer an option.
Arteta would reportedly accept that the player initially views Arsenal as an alternative rather than his preferred destination, believing he could eventually become fully committed to the club’s project.
With the September 1 deadline rapidly approaching, the decision ultimately rests with Alvarez.
If he insists on leaving Atletico, Arsenal could be his only realistic escape route.
The question is whether he will choose London over waiting for his dream move to Barcelona.
