Arsenal’s Julian Alvarez Pursuit—Is It Real or More a Statement of Intent?

The Gunners have been linked with Alvarez for a long time now.

Arsenal are one of the teams most closely linked with Julián Alvarez. | Guillermo Martinez/NurPhoto/Getty Images (Alvarez), Stuart MacFarlane/Arsenal FC/Getty Images (Arsenal’s badge)

Barcelona have been the main protagonists in the highly-scrutinized Julián Alvarez transfer saga, but Arsenal are reportedly still interested in the coveted Argentine striker, lurking in the shadows and waiting for the opportunity to pounce.

According to Sky Sports Italy, Arsenal have held initial talks with Atlético Madrid over a potential move that would see Alvarez land in north London. The conversations haven’t turned to any formal negotiations, but the report states that “communication lines remain open” between clubs.

Alvarez has not so subtly implied that Barcelona is his “dream” destination, even going public during the World Cup stating that it’s in everyone’s best interest for him to leave Atlético this summer.

Still, Arsenal appear to be biding their time, letting the craziness of the transfer saga unfold but still monitoring the situation so they can benefit if any major development twists the saga in their favor.

---

Could Arsenal Really Sign Julian Alvarez?

Arsenal sporting director Andrea Berta was at Atlético Madrid when they signed Alvarez. | IMAGO/Colorsport

Barcelona remain the favorites to land Alvarez were the striker to leave Atlético Madrid, but it’s no secret that it’s still far from a guarantee that the Argentine is donning Blaugrana colors by the end of the summer.

Atléti doesn’t want to sell Alvarez in an ideal world, but after rejecting Barcelona’s opening bid, attacking the Catalans on social media and filing legal complaints against the La Liga champions, it’s clear that the prospect of Alvarez joining Barcelona is the worst possible outcome.

If Atléti budge on the striker’s transfer request, they could potentially be more open to facilitating his exit to a club outside of Spain: Enter Arsenal.

Current Arsenal sporting director, Andrea Berta, performed the same exact job at Atlético Madrid prior to his arrival at the Emirates. Berta was still at Atléti when Alvarez joined Diego Simeone’s ranks from Manchester City in the summer of 2024.

Barcelona president Joan Laporta recently revealed their original offer is still valid were Atléti to reconsider—and further reports suggest the Catalans could submit an improved bid following the World Cup. Still, Laporta also made it clear that Barcelona’s approach isn’t “unlimited” and the club could eventually run out of patience and pivot to other alternatives.

If Barcelona give up on their Alvarez pursuit, Arsenal could become the biggest player in the Alvarez sweepstakes.

---

Arsenal’s Alvarez Interest Hints At Willingness to Spend Big

The Premier League champions are loading up for another successful season. | Stuart MacFarlane/Arsenal FC/Getty Images

Whether Arsenal’s interest in Alvarez materializes into a concrete pursuit remains to be seen, but what’s abundantly clear is that after winning the Premier League title for the first time in over two decades, the Gunners making a blockbuster transfer this summer could be a matter of when and for whom, not if.

Piero Hincapié and backup goalkeeper Illan Meslier are the only two incoming transfers Arsenal have finalized at this point of the transfer window. Following Leandro Trossard’s permanent exit to Beşiktaş, Club Brugge’s winger Christos Tzolis could be the next acquisition to replace the Belgian.

Some of this deals—particularly Hincapié’s—are appealing moves, but none are marquee signings. An intriguing move for Newcastle United’s Bruno Guimarães has hit a standstill, and there’s been no new updates on Arsenal’s reported interest in Morgan Rogers or Bradley Barcola.

Perhaps Arsenal are waiting for the Alvarez transfer saga to unfold, but the Gunners even being linked with the Argentine plus a handful of other elite talents is also a clear signal of intent: The Premier League champions are prepared to splash cash to defend their title.

After spending nearly $400 million (£291 million) in transfers last summer, Arsenal’s war chest is still far from empty. Their expenditure this time around might not eclipse that of last year, but the Gunners spending big on a world class talent seems highly likely.

Maybe it’s Alvarez who ticks that box, but even if Arsenal miss out on the Argentine, their willingness to spend big could see them pivot to another attacking alternative just as worthy of a major investment.

---