Atletico Madrid have rejected a staggering £129m bid from city rivals Real Madrid for striker Julian Alvarez, according to reports in Spain. The offer would have made the Argentine the most expensive signing in football history, surpassing the €222m Paris Saint-Germain paid for Neymar in 2017.
Record-breaking bid turned down
Real Madrid submitted the audacious proposal late last week, hoping to prise Alvarez away from the Metropolitano after just two seasons. The 25-year-old joined Atletico from Manchester City in 2024 for a fee of around €95m and has since become a key figure under Diego Simeone.
However, Atletico swiftly rejected the bid, insisting the forward is not for sale. Club president Enrique Cerezo stated: "Julian is a fundamental part of our project. We have no intention of negotiating his departure."
Alvarez's impact at Atletico
Since arriving in Madrid, Alvarez has scored 38 goals and provided 22 assists in 89 appearances across all competitions. His performances have helped Atletico secure a top-four finish and reach the Champions League quarter-finals last season.
The rejection is a significant statement of intent from Atletico, who are determined to hold onto their star asset despite the financial lure. Real Madrid's interest is understood to be driven by the desire to rejuvenate their attacking options, with Karim Benzema's future uncertain.
Market implications
The record-breaking bid underscores the escalating transfer market, with elite strikers commanding astronomical fees. If Alvarez were to move, the deal would surpass the current world record held by Neymar. However, Atletico's firm stance suggests no deal is imminent.
Football finance expert Kieran Maguire commented: "This bid reflects Real Madrid's financial muscle and their desperation for a top-tier striker. But Atletico are under no pressure to sell, especially to their fiercest rivals."
Alvarez himself has remained focused on his football, scoring in Atletico's recent pre-season friendly against Sevilla. He is expected to start the new La Liga campaign as the club's primary striker.
