Arsenal are reportedly ready to shatter the British transfer record in pursuit of Atletico Madrid forward Julian Alvarez, according to TEAMtalk.
The 26-year-old Argentine has established himself as one of European football’s most productive attackers since joining Los Rojiblancos from Manchester City.
Alvarez accumulated 37 goal contributions in his debut season at Atletico before following that up with 20 goals and nine assists across all competitions last term.
His time at Manchester City brought considerable success, including two Premier League titles and a Champions League trophy, though he largely played second fiddle to Erling Haaland.
Alvarez made the move to the Spanish capital specifically to secure regular first-team football and continue his development as a leading striker.
On the international stage, the forward has won the World Cup and two Copa America titles with Argentina, cementing his reputation as a world-class talent.
He also helped Argentina reach the 2026 World Cup final before they fell to Spain in what was a dramatic conclusion to the tournament.
TEAMtalk report that Alvarez is open to leaving Atletico this summer, with Barcelona listed as his preferred destination, though the Madrid club have no intention of selling him to a direct Spanish rival.
Arsenal sporting director Andrea Berta has been maintaining contact with the player’s representatives as the Gunners look to persuade Alvarez to move to north London.
The report states that agreeing on a deal in principle with Atletico Madrid would not be a significant obstacle for Arsenal, and Diego Simeone’s side have already begun exploring replacement options.
Atletico have expressed interest in Viktor Gyokeres as a potential Alvarez successor, but Arsenal are unwilling to part with the Swedish international striker.
Instead, Arsenal are proposing that Atletico Madrid take either Gabriel Jesus or Gabriel Martinelli as part of any agreement to facilitate the deal.
Arsenal are now understood to be waiting to see whether Alvarez ultimately changes his stance and becomes open to a move to the Emirates Stadium this summer.