Arsenal, Barcelona and PSG are all courting Julian Alvarez ahead of the summer transfer window but any deal for the Atletico Madrid attacker will not come cheap
08:33, 29 Apr 2026Updated 08:33, 29 Apr 2026
Arsenal, Barcelona and PSG want Julian Alvarez(Image: Getty Images)
Arsenal are once again interested in signing Julian Alvarez this summer – but they would need to sanction at least one significant sale in order to finance any prospective deal.
The Gunners, Barcelona and Paris Saint-Germain have all been credited with an interest in Alvarez, who joined Atletico Madrid from Manchester City in the summer of 2024. A deal for the 26-year-old would not come cheap, though, with Alvarez contracted until 2030 with a release clause set at a seismic €500million (£433m).
While nobody will be paying that sum to sign the Argentina attacker, interest in Alvarez is expected this summer – Diego Simeone admitted as much on Tuesday – with reports in Spain suggesting €100m (£86m) would be the starting point for any deal.
Arsenal spent in excess of £270m last summer without any major outgoings and would need to sell in order to be in a position where they can try and lure Alvarez back to the Premier League.
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The Telegraph have outlined five players who could be sold this summer to fund further incomings in a new report, including two academy stars who have already been touted as potential Arsenal outgoings in Ethan Nwaneri and Myles Lewis-Skelly.
Both have struggled for game time this term with Lewis-Skelly falling down the pecking order behind Riccardo Calafiori at left-back, while Nwaneri was allowed to go out on loan to Marseille in January. As academy products, both players would represent ‘pure profit’ in regards to the current Profit and Sustainability rules, thereby giving Arsenal great financial flexibility.
Ben White is a player who could be moved on amid the fierce competition for places in defence. Jurrien Timber has usurped him as Arsenal’s first-choice right-back and White, signed for £50m from Brighton, would command a substantial transfer fee.
Gabriel Martinelli is a player Arsenal could sell this summer(Image: PA)
Another player at risk of being sold is Gabriel Martinelli. The Brazilian has struggled for form this season, scoring just once in the Premier League. And with Arsenal keen to freshen up their attack, Martinelli could be sacrificed in order to aid such a process.
Gabriel Jesus is the fifth player mentioned and the former Manchester City man will enter the final year of his contract this summer. Crucially, Jesus is one of three players capable of playing as an orthodox striker for Arsenal alongside Viktor Gyokeres and Kai Havertz. It is likely one of those would be moved on in order to create room for Alvarez in Mikel Arteta’s side.
If Arsenal can raise the funds to move for Alvarez, competition for the forward’s signature is likely to be fierce with Barcelona already making moves and PSG also lurking.
Ethan Nwaneri and Myles Lewis-Skelly would count as ‘pure profit’ sales
Even Simeone, Alvarez’s manager, is unclear on where the player will be next season.
“I’m not inside Julian Alvarez’s head,” he said in a press conference on Tuesday. “But I understand it’s normal that an extraordinary player like Julian Alvarez is wanted by Arsenal, Paris Saint-Germain and Barcelona.
“It’s normal because he’s very good.”
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