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Arsenal closing in on a deal to sign Julian Alvarez

By on March 24, 2026

Arsenal are reportedly closing in on a deal to sign Atletico Madrid forward Julian Alvarez, as per a recent Spanish report.

Following Gabriel Jesus and Kai Havertz’s injury problems last term, the Gunners decided to reinforce the centre-forward position by purchasing Viktor Gyokeres from Sporting CP last summer.

However, the Swedish international has failed to replicate his Liga Portugal form in the Premier League this season, scoring 16 goals and registering two assists in 42 appearances across all competitions.

With Jesus’ existing deal set to expire at the end of next season, it has been suggested that the North London club are open to letting him leave this summer to avoid losing him for free. As a result, it appears Mikel Arteta’s side have started exploring options to replace the Brazilian.

As per a recent report (via TEAMtalk), Arsenal are keen on signing Alvarez and have already started accelerating their efforts to finalise the operation. Barcelona and Chelsea are also interested in the 26-year-old, with the Blaugrana being his preferred destination.

However, Hansi Flick’s side can’t afford to seal the deal by matching Los Rojiblancos’ asking price amid their recent financial difficulties. So, Arsenal have taken advantage of that and have already managed to convince the player to move to the Emirates Stadium.

Arsenal’s recent progress under Arteta has played a key role in persuading him to join, as they have beaten Chelsea in the race and are now close to completing the signing before next season.

Alvarez to Arsenal

Atlético Madrid are resigned to losing Alvarez but have slapped a whopping £108m price tag on his head, with his existing deal set to run until 2029.

Arsenal’s current record transfer is Declan Rice, who joined from West Ham United for a fee of around £105m in 2023. So, the Emirates club will have to break the transfer record once again to sign Alvarez.

He is a centre-forward by trait and has proven his worth at the highest level for club and country in recent years. So, the South American would be a great coup for the North London club should they eventually manage to secure his service in the upcoming summer transfer window.