FC Barcelona president Joan Laporta said on August 26 that Barcelona’s approximately €100 million offer for Atlético Madrid forward Julián Álvarez remains valid until the transfer market closes, although the club may pursue alternatives. Arsenal is prepared to pay up to €150 million, roughly £128 million, for the 26-year-old Argentine ahead of the 2026-27 season. Álvarez reportedly wants to leave Atlético and prefers Barcelona, but Atlético has said it will not sell him to a direct La Liga rival, meaning a departure could take him outside Spain’s top flight. Barcelona first submitted its bid through sporting director Deco earlier in 2026, but Atlético rejected it because it had no suitable replacement. Atlético also filed complaints with FIFA and RFEF, the Spanish football federation, in early July, alleging improper contact between Barcelona and Álvarez. Arsenal’s interest dates to January 2026, with manager Mikel Arteta involved and sporting director Andrea Berta working behind the scenes. The proposed Arsenal fee would exceed the club’s £105 million record signing of Declan Rice by 22%. Álvarez joined Atlético from Manchester City in 2024, with the sources citing a €95 million transfer fee and a €75 million base fee, and his contract runs through 2030 with a €500 million release clause. Juventus winger Kenan Yildiz is an alternative Arsenal target. The transfer window closes on September 1, 2026.