Arsenal's Pursuit of Julián Álvarez Amid Major Squad Changes
Arsenal are racing the clock to convince Julián Álvarez to swap Atlético Madrid for north London, even as they dismantle a forward line that has defined Mikel Arteta’s project.
The club have agreed to sell Gabriel Martinelli, Gabriel Jesus and Fábio Vieira in deals worth more than £70m combined, a bold reset designed to fund a new attacking era. But the man they want to build it around has his eyes fixed elsewhere.
Álvarez wants Barcelona – and says so
Álvarez has made it clear he wants Barcelona. Not the Premier League. Not Arsenal. Barcelona.
The Argentina international returned to Atlético training on Sunday after being left out of the squad for the win over Sevilla, with the Spanish club adamant they will not sell to their La Liga rivals. That has not stopped Barcelona circling, and it has not changed Álvarez’s stance.
Arteta is understood to have spoken directly to the former Manchester City forward last week, trying to tempt him back to England. The answer was blunt: Álvarez wants only Barcelona.
Barcelona, already busy reshaping their attack, have agreed an £8.6m deal to sign Jesus, who is in the final year of his contract at Arsenal and has slipped behind Kai Havertz and Viktor Gyökeres in the pecking order. They have already cashed in on Ferran Torres, sold to Paris Saint-Germain, and still want another attacker. Their interest in Álvarez has not gone away.
Atlético dig in as Arsenal juggle Plan B
Atlético have moved on one front, agreeing a deal with Juventus for Jonathan David on an initial loan with an option to buy the Canada forward next summer. That might have opened a door for Álvarez to leave.
Instead, Atlético are understood to be determined to keep him. He only arrived from Manchester City in 2024, and they see him as central to their plans.
Arsenal, for now, are clinging to the hope that the 26-year-old might yet change his mind. At the same time, they know they cannot wait forever. Several other attacking options are being monitored.
Iliman Ndiaye of Everton was on their shortlist, but Tottenham have surged ahead and are in advanced talks over a £60m move for the Senegal forward. Arsenal have already watched Morgan Rogers go to Chelsea and saw an ambitious move for Vinícius Júnior shut down when the Brazil star signed a contract extension at Real Madrid.
The market is moving quickly. Arsenal cannot afford to stand still.
Martinelli exit reshapes the left
On the left, the picture is just as dramatic. Christos Tzolis has arrived to replace Leandro Trossard, but Martinelli’s impending departure to Al-Hilal for a club-record £56m fee will rip out a key piece of Arteta’s front line.
The Brazilian is due for his medical on Monday after being left out of the squad for the opening-weekend win over Coventry. He scored six times in the Champions League last season but only once in the Premier League, a drop-off that has clearly influenced Arsenal’s decision to cash in at a high point.
His transfer fee surpasses the £40m Liverpool paid Arsenal for Alex Oxlade-Chamberlain in 2017, underlining the scale of the rebuild. Eberechi Eze, already at the club and capable of operating off the left, offers one internal solution, but the outgoing business suggests Arsenal are planning something bigger.
Vieira set for permanent exit
Behind the front line, another move is close. Fábio Vieira is poised to join Hamburg permanently for £8.6m after spending last season on loan there. It is another clean break, another sign that Arsenal are trimming the squad to reshape it rather than simply tweak.
Arteta has committed to change. The money is coming in. The spaces in the squad are opening up.
Now everything hinges on whether the striker he wants most can be prised away from his Barcelona dream.
