Arsenal are working against the clock to persuade Julián Álvarez to swap Atlético Madrid for north London, even as the club presses ahead with a summer clear-out that has already netted more than £70m from the sales of Gabriel Martinelli, Gabriel Jesus and Fábio Vieira.
Manager Mikel Arteta held direct talks with Álvarez last week in an attempt to lure the Argentina international back to the Premier League following his 2024 move from Manchester City to Atlético. However, Arteta reportedly came away from that conversation with the impression that the 26-year-old forward has his sights set firmly on Barcelona, regardless of Atlético's public stance that they will not sanction a sale to a domestic rival.
Álvarez's frustration with his current situation was evident when he was omitted from Atlético's matchday squad for their recent win over Sevilla, though he returned to full training on Sunday. The saga has added intrigue to what is already a complex transfer battle, with Atlético simultaneously moving to bolster their attack by agreeing an initial loan deal with Juventus for Canada international Jonathan David, which includes an option to make the transfer permanent next summer.
Barcelona's interest in Álvarez has not diminished despite their need to fill the void left by Ferran Torres, who departed for Paris Saint-Germain. The Catalan club have moved to strengthen their forward line by agreeing an £8.6m deal for Jesus, who found himself squeezed out of Arsenal's plans behind Kai Havertz and Viktor Gyökeres heading into the final year of his contract.
Arsenal, meanwhile, are not putting all their hopes on a dramatic change of heart from Álvarez. The club has been tracking alternative attacking targets, including Everton's Iliman Ndiaye, though that avenue appears to be closing fast with Tottenham reportedly in advanced negotiations over a £60m move for the Senegal international. Arsenal have also seen other pursuits fall away this summer, missing out on Aston Villa's Morgan Rogers to Chelsea and failing in a bold attempt to sign Real Madrid's Vinícius Júnior, who instead committed his future to the Spanish giants with a contract extension.
The departures continue to reshape Arsenal's forward options. Martinelli, who scored six goals in last season's Champions League campaign but managed just one in the Premier League, is set to undergo a medical on Monday ahead of a club-record £56m move to Al-Hilal — a fee that eclipses the £40m Liverpool paid Arsenal for Alex Oxlade-Chamberlain back in 2017. The Brazilian winger was already left out of Arsenal's squad for their season-opening fixture against Coventry, signaling that his exit was imminent.
His departure would open a space on the left flank, though Arsenal have already brought in Christos Tzolis as a replacement for Leandro Trossard in that role, while Eberechi Eze also offers cover in that position. Vieira, meanwhile, is expected to complete a permanent switch to Hamburg for £8.6m, returning to the club where he spent last season on loan.
With so many pieces moving simultaneously across the transfer market, Arsenal face a delicate balancing act — recouping significant funds from outgoing players while trying to secure a marquee attacking addition before the window closes. Whether Álvarez ultimately follows his stated preference for Barcelona or is swayed by Arsenal's advances remains the key subplot as the deadline approaches.
Based on reporting from Guardian Football.