Premier League

Arsenal leapfrog Barcelona in Julián Álvarez race

The Argentina star is attracting interest from Arsenal and PSG, but Atlético Madrid remain determined to keep him despite growing transfer speculation.

Marcelo del Pozo

F.J.Díaz Roddy Cons

Update: Jun 2nd, 2026 07:49 EDT

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Arsenal are making their move for Julián Álvarez.

The Premier League club is preparing to open talks with Atlético Madrid as it explores a deal for the Argentina international. Álvarez has long been admired at Arsenal, and the North London side is now ready to make another attempt to bring the striker to England.

Arsenal’s plan is to begin negotiations with Atlético president Enrique Cerezo’s club in hopes of securing one of the most sought-after forwards on the market.

Atlético stand firm on Álvarez

Atlético Madrid’s position has remained unchanged. The club insists Álvarez is part of its plans for next season and has no intention of letting him leave.

The Spanish side has also publicly criticized Barcelona for its handling of the Álvarez situation over recent months, adding another layer of tension to an already complicated transfer saga.

🚨 @AS_Picu:

Arsenal enter the race to sign Julián Álvarez and they want to open official talks with Atletico de Madrid soon. 🇦🇷

A deal could turn out to be around €150m. 🤯 pic.twitter.com/oFBuhkMdRu
— Eduardo Hagn (@EduardoHagn) June 2, 2026

How much could Álvarez cost Arsenal?

While the striker is reportedly interested in a move to Barcelona, Atlético has effectively shut the door on that possibility. The message from the club is clear: either meet an astronomical release clause or forget about signing him.

PSG and Arsenal are the other clubs that have been in contact with the player’s representatives during the closing stages of the season. Unlike Barcelona, both teams have the financial resources to pursue a deal that could reach approximately €150 million, or about $175 million.

Arsenal and PSG ready to challenge

Whether discussions between Arsenal and Atlético develop into serious negotiations remains to be seen. However, the interest is real, and a return to the Premier League is now a possibility.

Álvarez left Manchester City two years ago in search of a larger role and became a key figure at Atlético. Now, he could find himself heading back to England.

That possibility is particularly intriguing given Arsenal sporting director Andrea Berta’s deep knowledge of Atlético Madrid and his understanding of what Álvarez could bring to Mikel Arteta’s squad.

One of the summer’s biggest transfer stories

The Álvarez saga appears to be only beginning.

A move to Barcelona looks increasingly unlikely, with Atlético determined not to strengthen a direct rival. PSG remains on alert, while Arsenal has now decided to enter what could become one of the defining transfer battles of the summer.

If the Gunners are serious about landing Álvarez, they may have to break club records to do it.