Arsenal face Atletico Madrid on Wednesday night in the Champions League semi-final, where they must stop a centre-forward they are keen to sign: Julian Alvarez. The World Cup winner has become European football's most wanted man, with Atletico boss Diego Simeone declaring that Arsenal, Paris Saint-Germain, and Barcelona are all in the hunt this summer.
Alvarez's Rise and Price Tag
Former Manchester City striker Alvarez, 26, has flourished since joining Atletico for just over £80 million in 2024. He scored 20 goals in 67 league games for City, often playing second fiddle to Erling Haaland, but has matured in La Liga, improving his movement, finishing, and pace. Atletico value him at £120 million-plus, a conservative estimate that may be beyond Barcelona, though the Catalan giants often find a way.
Arsenal's Secret Weapon
Arsenal's sporting director Andrea Berta knows Alvarez from their time at Atletico, giving the Gunners a potential edge in negotiations. However, Arsenal already have three strikers: Viktor Gyokeres, Kai Havertz, and Gabriel Jesus, with Jesus having one year left on his contract. To fund a move for Alvarez, Arsenal would likely need to offload two of them. Gyokeres was signed for £64 million as a backup, but Alvarez would be first choice.
Alvarez can play as a No.9, No.10, or out wide, and his game intelligence and link-up play make him ideal for Arsenal. He might be tempted to return to England, but Arsenal must prove they are winners, chasing both the Premier League and Champions League titles. The irony is that Alvarez is the main threat standing in Arsenal's way of the final.
Atletico are keen to keep Alvarez and may offer a new deal, especially as Antoine Griezmann's departure frees up salary. Arsenal face competition from PSG and Barcelona, and the transfer won't be easy, but Berta's connections could be key.
