Atletico Madrid have rejected a €150 million bid from Real Madrid for forward Julian Alvarez, reaffirming that the Argentine will not be sold for less than his €500 million release clause. Both clubs released official statements on Tuesday confirming the offer and its rejection, a public exchange highlighting the intense rivalry between the Madrid clubs.
The bid represents the latest development in a transfer saga that has dominated Spanish football this summer. A previous €100 million offer from Barcelona was rejected on May 29th, with Atletico accusing the Catalan club of attempting to destabilize the player through media campaigns. Real Madrid’s intervention has further escalated the situation.
Real Madrid’s statement described their relationship with Atletico as positive, noting the club’s gratitude before the rejection. Atletico’s response was far more direct, stating they were “neither evaluating nor considering any offers” for Alvarez. The statement also referenced Real Madrid’s history of signing players from Atletico’s academy, a pointed criticism of Los Blancos.
Alvarez, 26, is currently under contract with Atletico until 2030. The club has consistently maintained that his €500 million release clause is the only viable pathway to securing his transfer, and they have shown no willingness to negotiate with domestic rivals. Had it been accepted, the €150 million bid would have been the third-largest transfer in football history, a figure Atletico appears to have dismissed.
Real Madrid president Florentino Pérez had promised a “galáctico” bid of €150 million during his recent re-election campaign. While several players were speculated as potential targets, including Michael Olise, Vitinha, and João Neves, Alvarez ultimately became the focus of the offer. This decision added a significant inter-city dimension to the transfer saga.
Although transfers between the two Madrid clubs are not uncommon, publicly confirming a bid is unusual for Real Madrid. The political context of Pérez’s campaign promise further complicated the situation. Atletico’s response reflects the heated nature of the rivalry. Alvarez has reportedly expressed a desire to leave Atletico this summer, with Barcelona as his preferred destination, though he has not publicly pushed for a move.
Real Madrid’s bid has effectively raised Alvarez’s market value, making any offer below the release clause appear insufficient. Barcelona’s interest remains, and Arsenal, Bayern Munich, and PSG are also monitoring the situation. Whether these clubs will submit formal offers, and if a potential discount on the release clause for Champions League clubs exists, will determine the future of this transfer saga.
