Transfer update: London rivals in talks to land unhappy £87m superstar

Arsenal and Chelsea have maintained constant contact regarding a potential blockbuster summer move for Julian Alvarez, with the Atletico Madrid striker reportedly eyeing a shock Premier League return.

The Argentine World Cup winner only departed English football in 2024 following a trophy-laden two-year spell with Manchester City.

Despite establishing himself as a regular starter under Diego Simeone, reports suggest the 26-year-old has grown increasingly frustrated with life at the Wanda Metropolitano.

Representatives for the forward have allegedly provided ‘positive reports’ to both London clubs regarding the feasibility of a summer transfer.

A heavy price tag

Securing the services of the South American marksman will require a significant financial outlay from any potential suitor.

Alvarez is currently tied to the Spanish capital until 2030, with a staggering £434m (€500m) release clause woven into his contract.

However, it is understood that Atletico would be willing to sanction a departure if a bid in excess of £87m (€100m) is tabled.

The versatile attacker has continued to deliver on the pitch despite his reported unrest, registering 11 goals and five assists in 30 appearances across La Liga and the Champions League this season.

Barcelona looming

The two Premier League heavyweights face stiff competition for the former River Plate prodigy.

Barcelona are understood to hold a serious interest in the player, with the Camp Nou thought to be Alvarez’s preferred destination.

Yet, the English sides hold a distinct strategic advantage in the race for his signature.

The Catalan club cannot solidify their summer transfer plans until their presidential elections are concluded in March, leaving the door open for Arsenal and Chelsea to strike early.

Guardiola’s regret

A return to England would see Alvarez competing against his former mentor, Pep Guardiola.

The Manchester City boss made no secret of his desire to keep the forward at the Etihad Stadium before his 2024 exit.

Speaking on the transfer, Guardiola previously admitted that the player’s demand for playing time forced the move.

“I don’t feel responsible for Julian’s departure,” the City manager said.

“Julian had already made up his mind to leave Manchester City; he wanted to play all the minutes he’s getting now, which he didn’t have here.”