Atletico Madrid would not accept any offer under €150m (£128.3m) from Arsenal for Julian Alvarez, while the Gunners are reportedly prepared to sell Myles Lewis-Skelly if a club meets their valuation of more than £50m.
With just over a week remaining in the transfer window, Arsenal's transfer activity continues to generate significant noise. The Premier League champions have spent close to £200m on five new signings this summer, bringing in Piero Hincapie, Illan Meslier, Christos Tzolis, Bruno Guimaraes and Ezri Konsa on a permanent basis.
Those additions are expected to boost Mikel Arteta's chances of defending his title and challenging for the Champions League this term. Arsenal opened their 2026/27 campaign with a 3-0 Community Shield win over Manchester City and a 3-0 victory against Coventry City in their Premier League opener.
Alvarez price tag revealed
Sporting director Andrea Berta is still understood to be working on bringing in a world class forward. Several players have also been linked with exits before the window closes on September 1, including Gabriel Martinelli, Reiss Nelson and Gabriel Jesus.
The Athletic reports that Atletico Madrid would not entertain any offer under €150m (£128.3m) from Arsenal for Alvarez. The Argentine has been a long-term target for Arteta, and links have grown stronger as Arsenal's pursuit of other forwards like Vinicius Junior fell by the wayside.
Atletico's public stance has been that their talisman is not for sale all summer, but the Spanish side are specifically refusing to sell to direct rivals Real Madrid and Barcelona. Alvarez's insistence on a move to the latter has been a major stumbling block for Arsenal.
Real Madrid announced in June that they had seen an offer of £128m rejected for Alvarez, though Atletico sources said they did not believe the bid was genuine. Arsenal are yet to table a bid, and a source close to Atletico's leadership reportedly believes it is unlikely they will put forward that kind of money.
Lewis-Skelly exit U-turn
Alvarez was jeered by his own fans during Atletico's draw against Villarreal on Sunday, before being asked by a club official not to go over to the supporters at the end of the game. He cut a dejected figure as he made his way down the tunnel alone amid the boos.
The Sun reports that Arsenal are prepared to sell Lewis-Skelly if a club meets their valuation of more than £50m. The 19-year-old academy graduate reclaimed his place in the starting line-up towards the end of last season after falling out of favour with Arteta for the left-back position.
Lewis-Skelly has started both of Arsenal's first two official fixtures of the campaign, impressing in both victories. Amid reports of the Gunners offering him to rivals like Chelsea and Manchester United, Arteta said "100%" when asked whether he is confident the midfielder will remain at the club beyond the transfer window.
However, The Sun now claims that United still have reason to believe Arsenal could be persuaded to sell, with the Red Devils wanting to play him as a left-back. Lewis-Skelly has not directly addressed the speculation but stated he wants a legacy in north London when signing a new contract last year.
