Arsenal’s attempts to sign Julian Alvarez from Atletico Madrid this summer has become even more difficult.
Alvarez has been linked with a move to the Emirates Stadium as Mikel Arteta bids to bolster his attack ahead of the new season where the Gunners hope to retain their Premier League title.
According to reports, Arsenal have a long-standing interest in the Argentina international after weighing up a move last summer before opting to sign Viktor Gyokeres instead.
Alvarez ended up staying in the Spanish capital and netted 20 goals in 49 appearances across all competitions - including one against the Gunners in the Champions League - for Atletico this season.
It has since been widely reported that the 26-year-old will be leaving Atleti this summer, though a Spanish publication Cadena SER have not ruled out a shock U-turn that would see the forward stay put for at least one more season.
However, interest in Alvarez is increasing with Real Madrid joining bitter rivals Barcelona and Paris Saint-Germain in the race.
In fact, Los Blancos revealed on Tuesday evening that an offer worth £129million had been rejected by their neighbours - who have implied Alvarez can leave if his release clause is triggered.
A statement reads: “Real Madrid CF announces that, following today's Board of Directors meeting, it has made an offer of €150 million (£129m) to Club Atletico de Madrid for the federative rights of the player Julian Alvarez.
“After studying and evaluating it, Atletico de Madrid has thanked the club for the offer, made within the framework of the good relations existing between both clubs, and has rejected it, referring to the player's release clause.”
Reports claim Alvarez’s release clause at Atletico is an eye-watering €500m (£429m) fee, thus making any deal at that price highly unrealistic for Real Madrid, Arsenal and any other potential suitor.
The Gunners’ most expensive signing to date remains Declan Rice for £105m from West Ham in the summer of 2023.
That said, it would appear that Alvarez has already ruled out a move to the Emirates Stadium as Sky Sports have claimed he has his heart set on joining Barcelona.
