Arsenal could reportedly be set to miss out on Atletico Madrid striker Julian Alvarez as he is apparently not keen on living in London.
That’s one major development in the Alvarez transfer saga, and the other is that a move to Barcelona seems to have stalled, meaning the Argentina international now looks set to stay at Atletico Madrid.
Diego Simeone’s side now seem to be planning for life with Alvarez still in their squad next season, according to Cadena SER.
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Julian Alvarez seemingly not joining Barcelona or Arsenal
Barca could have done with an elite striker signing like Alvarez this summer after the departure of Robert Lewandowski, but it seems this deal is now unlikely, according to the report.
Alvarez would also surely have been a welcome addition at Arsenal after a slightly unconvincing debut season at the Emirates Stadium from Viktor Gyokeres.
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It’s a bit surprising that the former Manchester City man isn’t keen to live in London, as living in the UK capital is so often seen as a major pull factor for top players.
Would Julian Alvarez have been a risky transfer anyway?
In a way, this news might end up being a blessing in disguise for interested clubs, as Alvarez arguably looked hugely overpriced anyway.
BBC Sport recently reported that the 26-year-old could cost as much as £120m, which is a huge amount to pay for someone whose form went a little downhill last season.
See below for a comparison of Alvarez’s form in all competitions across his two seasons in Madrid, with a pretty shocking record of only eight league goals in the 2025/26 campaign…
| Alvarez goals | League | Cup | Europe | TOTAL |
| 2024/25 | 17 | 5 | 7 | 29 |
| 2025/26 | 8 | 2 | 10 | 20 |
Arsenal could do with more options up front, but Alvarez doesn’t necessarily look like the kind of upgrade they’re looking for, and certainly not for such an excessive fee.
Barca, meanwhile, do need to find someone to replace the departing Lewandowski, but their financial problems surely make this kind of deal impossible.
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