Real Madrid Make Julian Alvarez Offer, Atletico Madrid Give Brutal Response

Julián Alvarez headlines one of the most riveting transfer sagas of the summer.

Julián Alvarez is a target for several clubs including Barcelona and Arsenal. | Isosport/MB Media/Getty Images

Atlético Madrid center forward Julián Alvarez is headlining the most exciting, drama-filled transfer saga of the summer, with the likes of Barcelona, Arsenal, Paris Saint-Germain and now Real Madrid all making their intentions clear for the Argentinian’s hand, despite vicious responses from Los Rojiblancos.

Real Madrid made an offer of €150 million ($173.2 million) for the 26-year-old star following a Board of Directors meeting, the club said in an official statement on Tuesday. Atlético, however, rejected it.

“After studying and evaluating it, Atlético de Madrid has thanked the club for the offer, made within the framework of the good relations existing between both clubs, and has rejected it, referring to the player's release clause,” Real Madrid wrote.

Alvarez’s current deal runs until 2030. Los Rojiblancos have pointed to Alvárez’s €500 million ($583 million) release clause in the past and made it abundantly clear that they are not interested in letting their star go; however, reports last week suggested the club was open to a transfer fee of at least €120 million ($140 million) to consider the departure of Alvarez.

Atlético most recently—and brutally—rejected an offer for Alvarez from Barcelona, who opened with a bid worth €100 million ($116 million) last week, an offer that included no add-ons and no players in exchange, just pure cash.

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Atlético Madrid Release Brutal Clarifying Statement

There are very few flaws to Julián Alvarez’s game. | Adria Puig/Anadolu/Getty Images

Soon after Real Madrid’s statement, Atlético released one of their own on social media, biting back at the rival’s claim that Atlético “thanked” them for their offer.

“Official statement setting out our clarifications regarding the official statement from our neighbors Real Madrid,” the club said. “1. You cut the bit of the Pope’s video where he said he was also an Atléti fan.

“2. You may have confused politeness with gratitude, but let there be no doubt: we are not grateful to you for anything. 3. We are not considering or evaluating any offers for Julián. 4. How could we not get on well, when you make us laugh even more than Barcelona.

“P.S. Taking advantage of the good relationship with your new president, let’s see if you stop ‘stealing’ players from our Academy. Thanks a lot!”

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Alvarez ‘Asks to Leave’ Atlético Madrid

It’s easy to understand why Barcelona and Real Madrid want Alvarez so badly. | Pedro Salado/Getty Images

Alvarez moved to Madrid from Manchester City just two years ago in a deal worth up to €95 million ($109.7 million) and had a dazzling debut campaign, scoring 29 goals in 57 matches in the 2024–25 season. Comparatively, this season was a down year, which could be reason for seeking a departure. Although Alvarez ended the season with 20 goals in 49 appearances for Diego Simeone’s side, only eight came in La Liga play across 29 league games.

Reports suggest behind-the-scenes tensions were one factor for Alvarez’s fall in form, including allegations of broken promises over a new contract.

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