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Arsenal face transfer blow in Julian Alvarez chase

By on February 21, 2026

Arsenal interest in Julian Alvarez has been backed by Argentine journalist Hugo Balassone. However, he believes the forward is heading towards Barcelona instead.

The Gunners are keen to improve their attack ahead of next season. Alvarez has been one of the names under serious consideration in recent months.

Reports earlier suggested Arsenal tabled a huge proposal during the Club World Cup. The offer was said to be worth £85 million, with a further £17 million in bonuses.

Atlético Madrid turned it down without hesitation. The Spanish club made it clear that the striker was not available for transfer.

Despite that stance, talk around Alvarez future has not gone away. Balassone has now added fresh fuel to the growing speculation.

Balassone Makes Bold Barcelona Claim

Speaking on Radio La Red, Balassone made a strong statement about the player future. He suggested that Alvarez cycle at Atlético Madrid has already come to an end.

Balassone was categorical. He said:

“My information is that Julián Álvarez will play for Barcelona. There was interest from Arsenal. His cycle at Atlético Madrid is over. It has not been a good season for him. He believes his career needs a team that can give him a title.”

The comments will raise concern among Arsenal supporters. Barcelona appear to be positioning themselves strongly in the race.

Balassone also questioned whether Atlético have met Alvarez expectations. While the club remain competitive, the season has not unfolded as hoped for the striker.

Arsenal Must Decide Next Move

The journalist expanded further on the player ambition and long term plan. He believes Alvarez wants to compete regularly for major honours.

He continued:

“The motivation for Julián is to go to a team that can be champions. It is true Atlético de Madrid can win the Copa del Rey, but it has not been the step he expected. I can confirm this – after the World Cup he will play, in my opinion, for one of the best teams in the world. Can you imagine Yamal and Julián up front?”

Those remarks point strongly towards Barcelona as the likely destination. The idea of Alvarez linking up with Yamal will excite many in Spain.

For Arsenal, the situation now demands clarity and quick thinking. If Barcelona push ahead, the North London club may need to move swiftly.

Mikel Arteta is determined to add more quality to his attacking options. Missing out on a key target would force a shift in focus.

The summer window is approaching fast. Arsenal must decide whether to press on or explore other striking options.