Julián Álvarez Emerges as Top Target

Julián Álvarez is the focus of Arsenal's attention, as the club explores a historic move for the Atlético de Madrid forward. On 23 January 2026, sources revealed that Arsenal have begun informal enquiries to assess the feasibility of the deal.

Andrea Berta, Arsenal's sporting director, is behind the move, leveraging his ties with the Atlético hierarchy. Berta was a key figure in Álvarez's €95 million transfer from Manchester City to Atlético in August 2024.

The interest in Álvarez underlines the ambition of the project led by Mikel Arteta, the manager. Álvarez had already been considered last summer, before the club opted for Viktor Gyökeres.

Prising Álvarez away from Atlético will be challenging, given his contract until 2030 and a €500 million release clause. Barcelona are also monitoring the World Cup winner, but their financial issues may hand Arsenal an advantage.

Álvarez has scored 40 goals in 85 appearances under Diego Simeone, with his relentless pressing and attacking versatility fitting Arteta's playing model. The 26-year-old forward is an ambitious target for the Gunners, with Arsenal possessing the economic muscle to pull off a deal of this magnitude.

The club would need to pay well over €100 million to enter negotiations, according to sources in Spain. Álvarez's agent, Fernando Hidalgo, has a close relationship with Berta, which could help open preliminary talks.

Arsenal's pursuit of Álvarez is a sign of their uncompromising ambition, as they seek to upgrade their forward line. The club's record investment in Gyökeres has not deterred them from exploring other options, with Álvarez's clinical finishing making him a highly tempting target.

On 23 January 2026, the transfer window was abuzz with speculation about Álvarez's future. As the summer transfer window approaches, Arsenal's interest in the Argentine forward will be closely watched.