Julian Alvarez transfer: Arsenal deal and Barcelona €135m bid

Reports from Spanish outlet El Chiringuito say Arsenal have reached a deal with Atletico Madrid to sign Argentine striker Julian Alvarez. The agreement would involve €50 million in cash and the loan of Swedish forward Viktor Gyökeres, valuing the package at roughly €115 million. The proposed swap is presented as a “done deal,” though its finalisation remains pending.

At the same time, Barcelona are preparing a massive counter‑offer. The Catalan club is said to be ready to submit a €135 million bid for Alvarez, with possible add‑ons pushing the total to €150 million. Barcelona’s management has warned Atletico that the player is “not for sale,” but the bid signals a direct challenge to Arsenal and underscores the striker’s high market demand.

Both English and Spanish clubs are intensifying their summer‑window activity around the Alvarez saga, with the transfer potentially reshaping the balance of power in European football.