Arsenal are exploring a late move for Atletico Madrid forward Julian Alvarez as the Premier League champions look to complete their summer transfer business before the September 1 deadline.
Having already strengthened significantly this window with the additions of Bruno Guimaraes in midfield, defender Konsa, and goalkeeper Illan Meslier, Mikel Arteta's side are viewed as one of the best-equipped squads in Europe. Yet the Arsenal manager remains eager to add a left-sided attacking option to round out his forward line, and Alvarez has emerged as a serious target.
According to reports, Arsenal have received encouragement that a deal for the Argentine could be achievable, though significant work remains before any transfer is finalized. Atletico Madrid are seeking around €150m (£128.4m) for Alvarez, and while Arsenal are attempting to negotiate that figure down, the club's ownership is reportedly prepared to back a major move, much as they did during their earlier pursuit of Real Madrid's Vinicius Junior.
Alvarez, who impressed for Argentina at the World Cup and scored a memorable extra-time strike against Switzerland in the quarter-finals, has long made clear his preference to remain in Spain and eventually join Barcelona. Atletico have consistently refused to sell to their fierce rivals, a stance that has not wavered despite growing tension between the player and sections of the Atletico fanbase — Alvarez was reportedly jeered by supporters when he came on as a substitute in a recent match against Villarreal.
That frustration has reportedly prompted some reconsideration from the 26-year-old regarding his next move, opening the door for Arsenal to make their case. Arteta is said to have identified a specific role for Alvarez within his system, valuing the forward's technical ability and mobility as ideal traits for the attacking positions he wants to fill.
Arsenal had also been strongly linked with Vinicius Junior earlier in the summer before that pursuit stalled amid the complexities of Spanish football politics. The club have been monitoring the situation with Alvarez for several months, dating back to last season, as part of a broader effort to add a marquee attacking talent following the arrival of Tzolis for £34m.
Juventus winger Kenan Yildiz remains on Arsenal's radar as an alternative, though Juventus boss Luciano Spalletti has downplayed any suggestion that the Turkey international could leave Turin, insisting the Italian club are relaxed about his future. Given the difficulty of prising Yildiz away — he is under contract until 2030 — Arsenal may increasingly view Alvarez as their most realistic and best-suited target.
To help facilitate a deal, Arsenal could look to include players as makeweights, with both Viktor Gyokeres and Gabriel Martinelli mentioned as possible options in any structured agreement with Atletico. Martinelli's future at the club is already uncertain; the Brazilian was omitted from Arsenal's squads for the Community Shield and the Premier League opener against Coventry City, and has reportedly grown more open to leaving after discussions with Arteta, with Saudi club Al-Hilal known to be interested.
Arsenal also have other business to conclude before the window closes. Gabriel Jesus remains available for transfer amid interest from Napoli, though a fee has yet to be agreed. Fabio Vieira and Reiss Nelson, both back at the club following loan spells, are also expected to depart, while a decision on young midfielder Ethan Nwaneri's future — likely another loan move — is still pending, with RB Leipzig among the clubs interested.
Based on reporting from Standard Sport and The Independent.