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PSG move threatens Arsenal pursuit of Julian Alvarez

By on January 27, 2026

Arsenal’s interest in Atletico Madrid forward Julian Alvarez is facing a serious challenge ahead of the summer transfer window.

Reports from Fichajes claim Paris Saint Germain have already made a move to steal a march on other interested clubs such as Arsenal.

The French champions are said to have submitted an offer worth £43 million, alongside two players, to convince Atletico Madrid to sell.

That proposal could put Arsenal’s hopes of signing the Argentine attacker under real pressure in the coming months.

Alvarez has been linked with several top sides across Europe following his strong displays in Spain this season.

Arsenal have been among the clubs most closely connected with the World Cup winner in recent weeks. However, PSG now appear ready to act, which could change the direction of the transfer race.

PSG table player plus cash offer

According to the report, PSG are willing to include Goncalo Ramos and Kang-in Lee as part of the deal. Both players would be offered to Atletico Madrid along with a cash payment of £43 million.

That structure may appeal to the Spanish side as they look to balance quality and value. The move shows clear intent from PSG to land Alvarez ahead of the new campaign.

For Arsenal, this development represents a major obstacle in their summer planning. The north London club have been tracking Alvarez as a possible answer to their attacking needs.

Competition from a club with PSG’s financial power could make any deal far more difficult. Atletico Madrid are under no pressure to sell cheaply, given Alvarez’s importance to the team.

This season, Alvarez has delivered steady numbers in La Liga for Atletico Madrid. He has recorded seven goals and three assists in league action so far. Those returns highlight his value as both a scorer and a creative outlet.

Transfermarkt currently values the striker at £86 million, reflecting his growing status. Arsenal see Alvarez as a player who could add depth and sharpness to their attack.

The club are keen to bring in more options to support Viktor Gyökeres in the final third. Gyökeres has found life difficult since his move to Arsenal and has struggled for form.

Alvarez fits the profile Arsenal are looking for, with his energy and movement. PSG’s interest, however, risks shifting the balance away from the Premier League side.