Arsenal have seen a formal bid of €120 million for Atletico Madrid striker Julian Alvarez rejected, according to reports emerging from Spain. The offer represents a significant move by the Gunners as they begin to reshape their squad ahead of the 2026-27 season.
Alvarez has been a key figure for Atletico Madrid since joining the club, consistently contributing goals and assists in La Liga. Last season, the Argentine forward scored 18 league goals and provided 7 assists, establishing himself as one of the most sought-after strikers in Europe. His current contract with Atletico runs until 2028, giving the Spanish club a strong negotiating position.
The rejection of Arsenal’s bid does not necessarily signal the end of their pursuit, but it does indicate that Atletico Madrid will demand a fee close to Alvarez’s release clause, if one exists, or will be unwilling to sell. Barcelona are also heavily linked with Alvarez, and reports suggest they have submitted a bid of €100 million for the player, though Atletico have dismissed these claims as “lies”.
Arsenal’s interest in Alvarez stems from their need for a prolific goalscorer. While they have a number of attacking options, manager Mikel Arteta is reportedly seeking a proven finisher to lead the line and improve their chances of challenging for major honors. The club are expected to be active throughout the summer transfer window, with significant investment anticipated. This move could potentially free up funds for other targets, or force Arsenal to reassess their attacking options if they are unable to secure Alvarez’s signature. The situation remains fluid, and further developments are expected in the coming weeks.
