Julian Alvarez entered the summer transfer window after another demanding season with Atletico Madrid under Diego Simeone.
The Argentine then strengthened his reputation during the 2026 World Cup while helping his country progress deep into the tournament.
However, uncertainty around his Atletico future increased after Alvarez publicly expressed his desire to leave during the competition.
Barcelona quickly emerged as his preferred destination, with Hansi Flick and Deco making the striker their priority target.
Atletico have strongly resisted that possibility and remain unwilling to sell Alvarez directly to their La Liga rivals.
That stance has left Arsenal as another possible destination during the closing stages of the summer transfer window.
The situation became more complicated after Atletico supporters loudly booed Alvarez during their home match against Villarreal.
After the game, Alvarez walked directly towards the dressing room while his teammates stayed behind to greet supporters.
Atletico nevertheless continue demanding €150 million before considering a transfer for their Argentine forward this summer.
According to Matteo Moretto (via SPORT), Arsenal are unwilling to pay Atletico Madrid’s €150 million asking price for Julian Alvarez.
The Gunners also have no intention of including Viktor Gyokeres in any agreement to reduce the required transfer fee.
Arsenal need attacking reinforcements following Gyokeres’ poor season and the injury problems suffered by Kai Havertz.
However, the financial structure of the proposed deal has created another significant obstacle for the Premier League club.
Premier League teams have generally spent their biggest fees on players already competing within English football this summer.
The five most expensive Premier League transfers in 2026 have all involved moves between clubs based in England.
Meanwhile, Alvarez continues prioritising Barcelona and has ignored other approaches, including the interest coming from Arsenal.
Therefore, the Gunners remain in the background while their position stays far away from Atletico’s current financial demands.
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