Real Madrid are reportedly considering a move for Atlético Madrid striker Julián Álvarez after their initial bid for Bayern Munich’s Michael Olise appears unlikely to succeed. Club president Florentino Perez pledged to make a €150 million bid for an unnamed player upon re-election, a promise fulfilled with an offer for Olise earlier this week.
However, Bayern have indicated Olise is not for sale, and the bid falls short of his Estimated Transfer Value of €170.6 million. This has prompted Perez to explore alternative options, with Álvarez emerging as a potential target. Sky Germany reporter Patrick Berger suggests Real Madrid have made “enquiries” regarding the Argentina international.
Álvarez is understood to be seeking a departure from Atlético, ideally remaining within La Liga. While Arsenal have expressed interest, Spanish sources indicate Álvarez prefers to stay in Spain, with Barcelona initially appearing as a likely destination. Barcelona have reportedly offered €100 million for the player, but Atlético are holding out for around €150 million – the same figure Perez has publicly committed to spending.
A transfer directly from Atlético to Real Madrid would be highly controversial, given the intense rivalry between the two clubs. It is considered doubtful that Atlético would willingly sell a key player to their city rivals. Furthermore, Álvarez’s positional versatility – capable of playing as a number nine, ten, or on the left wing – doesn't necessarily address an immediate need within the Real Madrid squad.
Perez has already affirmed his intention to retain Kylian Mbappe and Vinicius Jr, leaving limited space for another forward. The pursuit of Olise aligned with a clear desire to strengthen the right wing, a position where Real Madrid currently lacks depth. While a move for Álvarez is currently considered a long shot, the unpredictable nature of the transfer market leaves the door open to potential developments.
