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Arsenal plot swoop to sign Julian Alvarez in swap deal

By on February 1, 2026

Arsenal are reportedly planning to sign Atletico Madrid forward Julian Alvarez in a sensational swap deal, as per TEAMtalk.

The Gunners currently have Viktor Gyokeres, Gabriel Jesus, and Kai Havertz as the centre-forward options. However, the German has been struggling with fitness problems over the last 12 months.

On the other hand, Jesus has also had fitness problems in recent years, and after returning from a serious knee issue, he has been playing as a deputy to Gyokeres.

However, the Swedish international has struggled to find his feet in the Premier League this season, scoring just five times in 21 appearances, including two penalties.

Therefore, it appears the North London club are planning to upgrade the No.9 position further this year. TEAMtalk claim that Arsenal are keen on signing Alvarez and have intensified their efforts to seal the deal.

The Argentinian international has become frustrated at the Spanish capital and could be open to leaving at the end of this campaign. By taking advantage of this situation, Barcelona are interested in signing him, with the player’s preference to join the Catalan giants.

However, Hansi Flick’s side can’t afford to finalise the operation by matching Los Rojiblancos’ asking price amid their financial difficulties. Paris Saint-Germain and Chelsea have also been offered the chance to sign Alvarez.

Alvarez to Arsenal

If the forward can’t join Barcelona, he would be open to moving to the Emirates Stadium, and Mikel Arteta’s side can sign him by matching Atletico Madrid’s valuation.

However, Arsenal are ready to include Jesus and Gabriel Martinelli in a part-exchange deal, with the Spanish giants previously registering their interest in the Brazilian duo.

The North London club have been keeping a close eye on the South American’s performances in recent weeks before making a potential swoop.

Alvarez is valued at around £87m by Transfermarkt and still has a contract until 2030, having joined Atletico Madrid ahead of last season.

The 25-year-old is one of the best forwards in the world and previously showcased his qualities in the Premier League during his time with Manchester City. So, he would be a great coup for Arsenal should they eventually manage to secure his services.