Arsenal’s pursuit of Atletico Madrid striker Julian Alvarez has reportedly hit a major snag, with claims emerging from Spain that the Argentina international has already agreed to a move to Paris Saint-Germain. The news represents a setback for Mikel Arteta’s side, who have been linked with Alvarez as a potential statement signing this summer.
Transfer insider Graeme Bailey initially reported Arsenal’s interest in Alvarez back in January, noting the club’s willingness to explore a deal for the former Manchester City forward. Alvarez previously enjoyed a successful spell at City, winning two Premier League titles, an FA Cup, and a Champions League during his time there before moving to Atletico Madrid.
Arsenal had reportedly held discussions with intermediaries regarding a potential transfer, and were prepared to meet both Atletico’s £100 million valuation and Alvarez’s personal demands. However, competition for the player’s signature had intensified, with Barcelona also expressing interest as a potential replacement for Robert Lewandowski.
According to Jose Antonio Martin Otin, known as Peton, a Spanish analyst for Cadena COPE, Alvarez has already made his decision. “He’s a player who’s already been transferred to PSG,” Peton stated, praising Alvarez as a reliable performer in crucial matches. While Atletico Madrid have yet to officially approve the deal, Peton outlined three possible scenarios for the Spanish club.
These scenarios include negotiating a “monumental transfer” – potentially the largest of the season – retaining Alvarez against his wishes, or seeking a player-plus-cash exchange. Peton suggested Atletico could demand £100 million, along with players Desire Doue and Lucas Hernandez in any potential deal. The outcome of negotiations remains uncertain, but the indication is that Alvarez is set to join PSG ahead of the 2026/27 season.
This development could force Arsenal to reassess their attacking options for the summer transfer window, potentially shifting their focus to alternative targets. The pursuit of Alvarez was seen as a signal of intent, and his potential arrival would have significantly strengthened Arteta’s squad.
