Arsenal's Pursuit of Julián Álvarez Amid Barcelona Interest
Arsenal are racing the clock to convince Julián Álvarez to swap Madrid for north London, even as they dismantle and rebuild their forward line in a flurry of big-money deals worth more than £70m.
Álvarez fixated on Barcelona
The problem for Arsenal is simple and brutal: Álvarez only wants Barcelona.
The Argentina international returned to Atlético Madrid training on Sunday after being left out of the squad for the win over Sevilla, a decision that only fuelled speculation over his future. Arsenal, sensing an opening, moved quickly. Mikel Arteta is understood to have spoken directly to Álvarez last week, pitching a return to the Premier League and a central role in his reshaped attack.
The answer came back cold. Álvarez’s priority remains Barcelona, despite Atlético’s firm stance that they will not sell to a direct La Liga rival.
Barcelona, for their part, are not hiding their interest in attacking reinforcements. They have already agreed an £8.6m deal to sign Gabriel Jesus, who is in the final year of his Arsenal contract after slipping behind Kai Havertz and Viktor Gyökeres in the pecking order. But with Ferran Torres sold to Paris Saint-Germain, the Spanish champions still want another forward and are said not to have abandoned the idea of prising Álvarez away from Atlético.
That leaves Arsenal trying to change the mind of a player whose heart is set elsewhere, while the club around him insists he is not for sale.
Atlético reshuffle but dig in
There is at least one sign of movement at Atlético. The club have agreed a deal with Juventus for Jonathan David on an initial loan, with an option to make the Canada forward’s move permanent next summer.
On paper, that could have opened the door for Álvarez to leave. Instead, Atlético are understood to be determined to keep the 26-year-old, who joined from Manchester City in 2024 and has quickly become a key part of their plans.
So Arsenal wait. Hopeful, but hardly in control.
Arsenal’s attacking rebuild gathers pace
While the Álvarez pursuit stalls, Arsenal’s own overhaul up front is accelerating.
Gabriel Martinelli, Gabriel Jesus and Fábio Vieira are all heading for the exit in deals that will reshape Arteta’s squad and significantly boost the club’s finances. Martinelli’s move to Al-Hilal is expected to smash Arsenal’s outgoing transfer record at £56m, surpassing the £40m Liverpool paid for Alex Oxlade-Chamberlain in 2017. Vieira is poised to join Hamburg permanently for £8.6m after his loan spell there last season, while Jesus will join Barcelona for £8.6m.
Martinelli’s departure is particularly symbolic. The Brazilian scored six times in the Champions League last season but managed only one goal in the Premier League. Left out of the squad for the opening-weekend fixture against Coventry, he is due to undergo his medical on Monday before sealing the move to Saudi Arabia.
Arteta has already begun patching the gaps. Christos Tzolis has arrived to replace Leandro Trossard on the left, offering fresh legs and a different profile out wide. Yet Martinelli’s sale will still leave a sizeable hole in the squad, even with Eberechi Eze also capable of operating from that flank.
Options narrowing in the market
Arsenal cannot afford to pin everything on Álvarez. The market is moving fast, and several alternative targets are already slipping away.
Everton’s Iliman Ndiaye featured on their shortlist, but Tottenham have pushed ahead and are in advanced talks over a £60m deal for the Senegal forward. Morgan Rogers, another name admired in north London, has gone to Chelsea. An ambitious attempt to lure Vinícius Júnior from Real Madrid never got off the ground, ending with the Brazilian signing a contract extension at the Bernabéu.
So Arsenal scan the horizon again. Money is coming in. Spaces are opening up. The structure of the attack is being torn down and rebuilt almost in real time.
What they do not yet have is the centrepiece. And with Álvarez still dreaming of Barcelona and Atlético refusing to blink, Arsenal must decide how long they can afford to wait before turning fully to Plan B.
