The Julian Álvarez transfer saga has taken another turn, with Arsenal emerging as the club Atlético Madrid would prefer to negotiate with as Barcelona’s pursuit of the Argentine striker continues to lose momentum.
Barcelona have reportedly seen their €100 million offer rejected, while Arsenal are prepared to go closer to €120 million. Atlético, however, are holding out for around €150 million. Reports also suggest Arsenal could explore including Viktor Gyökeres in a deal.
The interesting part is that this is no longer simply a battle between Arsenal and Barcelona for one of Europe’s best forwards. It is becoming a question of what Álvarez wants, what Atlético want and which club can move fastest before the transfer window closes.
Barcelona Have the Player’s Dream, But Arsenal Have the Stronger Position
Álvarez has reportedly made it clear that he wants to leave Atlético, with Barcelona believed to be his preferred destination.
That creates a problem for the Spanish club. Atlético do not want to lose one of their most important attackers, but if he is determined to leave, they need to find a deal that works for them. Arsenal could provide exactly that.
Unlike Barcelona, who have financial limitations and are already searching for alternatives after their Álvarez pursuit stalled, Arsenal appear more capable of putting together a major package. Barcelona are also considering other forwards, including Lautaro Martínez and other alternatives, as the deadline approaches.
Why Arsenal Want Álvarez
For Arsenal, this is about adding another level of quality to their attack. Álvarez can play as a central striker but is also capable of dropping deeper and combining with other attackers. That flexibility would give Mikel Arteta another option in a squad expected to compete for major trophies.
The club’s willingness to consider a huge fee also shows that Arsenal are looking beyond simply adding squad depth. They want players capable of changing the level of the team.
There is another issue, though. Álvarez reportedly has doubts about moving to the Premier League, which means Arsenal cannot assume that agreeing a fee with Atlético will automatically complete the transfer.
The Decision Could Come Down to Álvarez
That is what makes this story so interesting. Arsenal may have the stronger financial position, while Atlético may prefer to sell to them rather than strengthen Barcelona. But Álvarez still has a say in where he wants to play.
Atlético’s decision to leave him out of their opening league match against Málaga has already shown how disruptive the situation has become. The club won 2-0, but his absence was noticeable, particularly with other attacking changes in the squad.
If Álvarez chooses Arsenal, the Gunners could pull off one of the biggest moves of the summer. If he continues waiting for Barcelona, Arsenal may have to move on.

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