Arsenal have proposed a player-plus-cash deal to Atletico Madrid involving Viktor Gyokeres in an attempt to sign Julian Alvarez, according to a report by TalkSport. The Gunners are seeking to bolster their attacking options during the transfer window, having already made progress in securing Morgan Rogers from Aston Villa and Bruno Guimaraes from Newcastle.
However, their pursuit of Alvarez has faced obstacles, with the player reportedly favouring a move to Barcelona. Atletico Madrid are proving to be difficult negotiators, having rejected a €150 million bid from Real Madrid for Alvarez, though the seriousness of that offer is questionable. They also dismissed a €100 million bid from Barcelona, reportedly demanding Alvarez’s €500 million release clause be met.
To circumvent Atletico’s high valuation, Arsenal are willing to include Gyokeres as part of the package. The Sweden international has an Estimated Transfer Value (ETV) of €60.8 million, which would reduce the overall cost for Alvarez, whose ETV currently stands at €103 million. Despite this proposal, doubts remain over the feasibility of the swap deal due to the complexities of reaching an agreement between all parties.
TalkSport’s European football expert, Andy Brassell, believes Alvarez would be a valuable addition to Arsenal. “He's someone who can really lead a team,” Brassell stated. “He has heart and soul; he gives everything in every game… Arsenal would be a terrific spot for him.” However, Sky Sports reports that Alvarez is reluctant to return to the Premier League, potentially strengthening Barcelona’s position in the race for his signature. Alvarez previously played for Manchester City, winning the Premier League title in 2023.
Gyokeres joined Arsenal in 2024 from Sporting CP and has become a regular starter, contributing goals and assists. His potential departure would leave a void in Arsenal’s attack, but the acquisition of Alvarez would be considered a significant coup. The situation remains fluid, and it is unclear whether Arsenal will be able to convince both Atletico Madrid and Alvarez to accept their proposal.
