Arsenal's hopes of signing Julian Alvarez from Atletico Madrid have suffered a setback, with the striker's release clause set at a staggering £429 million. The 26-year-old Argentina international has been linked with a move to the Emirates Stadium as Mikel Arteta looks to strengthen his attack.
Alvarez scored 20 goals in 49 appearances for Atletico last season, including one against Arsenal in the Champions League. Despite reports suggesting he could leave this summer, Spanish outlet Cadena SER has not ruled out a U-turn that would see him stay for another season.
Interest in Alvarez is growing, with Real Madrid, Barcelona, and Paris Saint-Germain all in the race. Real Madrid had a £129 million bid rejected on Tuesday, with Atletico insisting the release clause must be met. Arsenal's record signing remains Declan Rice for £105 million, making a deal for Alvarez financially challenging.
According to Sky Sports, Alvarez has his heart set on joining Barcelona, further complicating Arsenal's pursuit. The Gunners had previously considered signing Alvarez last summer but opted for Viktor Gyokeres instead.
