Real Madrid have seen a £129 million bid for Atletico Madrid striker Julian Alvarez rejected, potentially boosting Arsenal's hopes of signing the player. The offer, which would have been a club record for Real Madrid, was turned down by Atletico, who pointed to the player's release clause.
Real Madrid president Florentino Perez had earlier hinted at a major bid, stating he planned to make the largest transfer offer in the club's history. While Bayern Munich's Michael Olise was initially linked, it has emerged that the target was Alvarez, who has also attracted interest from Arsenal and Barcelona.
Atletico Madrid confirmed the bid in a statement, noting the offer was made within the framework of good relations between the clubs but was rejected, with reference to Alvarez's release clause, believed to be around £431 million. It remains unclear if Real Madrid will return with an improved offer.
For Arsenal, the rejection could be a boost, as they face less competition for Alvarez if Real Madrid are unwilling to meet the release clause. The Gunners have been linked with the Argentine forward as they seek to strengthen their attack.
