Manchester City are reportedly weighing up a move to re-sign Julian Alvarez from Atletico Madrid in the last few days of the summer transfer window.
Alvarez is the subject of intense transfer speculation following a summer-long saga with Barcelona. Atletico Madrid felt compelled to release a statement this week explaining they will not do business with Barca under any circumstances.
Arsenal and City in the race
Arsenal are also interested in the Argentina international and have been waiting for developments ahead of the transfer deadline at 11pm on Tuesday night. Alvarez told Atleti he wanted to join Barca, but is now faced with two options: move back to the Premier League or stay in the Spanish capital.
The 26-year-old forward is under contract until June 2030 and is valued at €150million (£128m) by Atleti. They signed him from Manchester City for £81m in August 2024, but now the prospect of a move back to the Etihad Stadium has emerged.
City's financial position
Marca reports that City have 'entered the race' after offloading Omar Marmoush and Savio to Tottenham for what will become a combined £135m when Marmoush's initial loan becomes permanent. The Spanish newspaper notes that Alvarez remains reluctant to return to England and that Atleti would have to find a replacement before agreeing to sell.
Manager Diego Simeone has confirmed that he wants to keep Alvarez, who has skipped training and will not travel with the team to play Sevilla in La Liga this weekend. "From the moment he returns to training, I will do everything I can to make him feel important," said Simeone.
Alvarez's record and future
Asked whether Alvarez's situation could be turned around, Simeone added: "As long as you have your health, everything in life can be turned around."
"I'm still in the same position, hoping, from a sporting point of view, to be able to help him in the best way so that he continues to be the very important player he is for us," he added.
Alvarez has 49 goals and 17 assists in 107 appearances for Atleti, having previously returned 54 goals and 31 assists in 122 games for City. He left Manchester, in part, to step out of Erling Haaland's shadow and the fact the Norwegian star is still the No.1 striker under Enzo Maresca could put him off returning.
City are also weighing up whether to splash over £120m on Enzo Fernandez following the departures of Rodri, Tijjani Reijnders and Nico Gonzalez in recent weeks.
For Alvarez, everything remains up in the air with four days of the transfer window remaining. But what is certain is that Atleti won't sell to Barcelona.
They said in a statement: "The members of Atlético Madrid's Board of Directors have unanimously expressed their full support for the club's decision not to negotiate the transfer of Julián Alvarez to FC Barcelona. The members of the Board of Directors are aware that:"
"Atlético Madrid is open to negotiations that are part of the transfer market, but always in an ethical and professional manner and with respect between clubs."
"We fully support the position previously communicated by the club that FC Barcelona have not met these requirements and, as a result, there have been no negotiations, nor will there be any negotiations with them regarding the transfer of Julián Alvarez."
