According to a report published by the London Evening Standard on Friday, August 21, 2026, Arsenal have established direct contact with Atlético Madrid to discuss the possibility of signing Argentina international Julián Álvarez. Transfer journalist Fabrizio Romano reports that the Premier League club approached Atlético to obtain a clearer understanding of the financial and contractual conditions that would be necessary to complete a potential transfer before the summer window closes.
Atlético, however, continue to maintain that Álvarez is not available for sale. The Spanish club’s position remains a significant obstacle, as Arsenal would first need to persuade them to reconsider their stance before formal negotiations could advance. Barcelona have also been monitoring the striker’s situation, but their interest has not resulted in any substantial progress. Atlético director Mateo Alemany’s recent visit to London has added further interest to the situation, although it does not necessarily indicate that a transfer is close.
Romano confirmed that Arsenal and Atlético have held discussions regarding Álvarez, with the English club primarily seeking information about the terms of a possible agreement. Arsenal’s interest in the forward is not a recent development. The Gunners had previously considered pursuing him before he left Manchester City for Atlético Madrid, meaning their current approach reflects an interest that has existed for some time.
The transfer expert also emphasized that manager Mikel Arteta has long admired Álvarez’s qualities. The Argentine’s versatility, movement, finishing ability, and capacity to operate in several attacking positions would make him an attractive option for Arsenal as they look to strengthen their forward line. Even so, several important questions remain unanswered, particularly the player’s own preference. Álvarez has not opened negotiations with Arsenal, so it is still unclear whether he would be willing to consider a move to North London.
Atlético’s valuation represents another major complication. The Madrid-based club continue to insist that the striker will stay, and their asking price would likely be substantial even if they eventually became open to discussions. Arsenal would therefore need to satisfy Atlético financially while also establishing that the player is interested in the proposed move.
Romano has consequently urged caution and warned against treating a transfer to Arsenal as inevitable. Any deal would depend on two crucial factors: Atlético’s willingness to change their position and Álvarez’s desire to join the Premier League side. Although Arsenal’s initial contact does not guarantee further progress, it demonstrates that the club are actively exploring the opportunity rather than merely monitoring the player from a distance.
With the transfer window approaching its conclusion, Arsenal continue to search for additional attacking options. Álvarez remains a challenging and potentially expensive target, but the Gunners have kept the possibility alive. If Atlético’s stance softens, the player expresses interest, or the financial conditions become more manageable, Arsenal could decide to intensify their efforts in the final stages of the window.
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