Arsenal are pushing hard in the final days of the summer window to land a forward capable of transforming their attacking play ahead of another Champions League tilt.
Declan Rice remains the club’s most expensive transfer of all time at £105m, a fee he has arguably made look like a bargain given his performances since arriving in north London.
The 27-year-old was exceptional during the 2025/26 campaign, registering nine assists and playing a central role as Arsenal lifted their first league title in 22 years and reached a Champions League final.
Rice played 4,456 minutes last season, second only to goalkeeper David Raya among outfield players, a workload that left him managing neural pain in his back and hamstrings at the World Cup.
Martin Zubimendi logged 4,300 minutes alongside him, and both midfielders looked visibly drained as the season reached its conclusion, raising real concerns about sustainability heading into the new campaign.
The signing of Bruno Guimaraes from Newcastle represents a significant step toward addressing that burden, with Mikel Merino’s return to full fitness also expected to ease the pressure on Arsenal’s engine room.
Josh Kroenke acknowledged Rice’s arrival as a turning point in Arsenal’s project, and the club’s hierarchy has since been working to find a similarly transformative player for the attack.
Vinicius Junior and Morgan Rogers both opted against joining the Emirates this summer, leaving Arsenal short of the world-class attacking presence that Andrea Berta and the Kroenkes have been targeting.
Julian Alvarez has emerged as the primary target, though the Argentine’s situation at Atletico Madrid is deeply complicated, with the forward preferring a move to Barcelona over any other destination.
Reports from Spain suggest Arsenal have already agreed a deal with Atletico Madrid to sign Alvarez, but the player personally told Arsenal officials during a direct call at the end of last week that Barcelona remains his only desired destination.
Alvarez was jeered by supporters inside the Metropolitano when he returned to the matchday squad on Sunday, a reception that suggests his departure from the Spanish capital is inevitable.
Argentine journalist Roy Nemer described Alvarez as “the best forward in the world” back in March 2025 during a 29-goal season, and despite a dip in form since, his quality remains undeniable.
He ranked among the top six percent of strikers in Europe’s top five leagues last season for big chances created from open play, demonstrating an ability to link play that mirrors what Kai Havertz offers.
Kai Havertz has scored two goals in two games to open the season, while Viktor Gyokeres contributed 21 goals last term, but Arsenal’s hierarchy appears to want a different type of centre-forward to lead a title and Champions League challenge.
Alvarez combines Havertz’s creativity with Gyokeres’s clinical instinct, making him what many consider the ideal fit for Mikel Arteta’s quick combination play on the edge of the box.
Much as Rice transformed Arsenal’s midfield when he arrived in 2023, Alvarez has the profile to be equally game-changing for the attack if a deal can be concluded before the transfer window closes.