Arsenal have signalled a strong desire to acquire Atletico Madrid striker Julian Alvarez, but they will have to contend with rivals Paris Saint-Germain and Barcelona for his signature, according to Atletico boss Diego Simeone. The Argentine forward’s name surfaced during Simeone's pre‑match press conference ahead of the first leg of Wednesday's Champions League semi‑final at the Metropolitano, where his side will host the Gunners. When asked about the circulating rumours linking Alvarez with the north London club, Simeone replied, "I'm not inside Julian Alvarez's head," before adding that it was perfectly natural for a player of Alvarez's calibre to attract attention from top European clubs. "An extraordinary player like Julian Alvarez is wanted by Arsenal, Paris Saint-Germain, Barcelona – it's normal because he's very good," he said.
Alvarez arrived at Atletico from Manchester City for a reported £82 million and has since found the net 48 times in 104 appearances, a strike rate that underlines his importance to the Spanish side. The 26‑year‑old was a key figure in City’s back‑to‑back Premier League triumphs and played a part in the club’s historic treble in the 2022/23 season before moving to Diego Simeone’s project.
His resume also includes a World Cup winner's medal, having helped Argentina lift the trophy in Qatar in 2022. The Gunners' sporting director, Andrea Berta, was the man who negotiated Alvarez’s transfer from the Etihad Stadium to Atletico, meaning the club already has a familiar face within its hierarchy.
Berta’s knowledge of the player’s abilities and character could prove useful if Arsenal decide to make a formal bid. Recent injury concerns have kept Alvarez out of Atletico’s last two league fixtures, but the manager expects the Argentine to be fit for the crucial semi‑final clash.
In the meantime, Arsenal have bolstered their attacking options by signing Swedish forward Viktor Gyökeres last summer. Gyökeres, who led Sporting CP in goals last season with 18 strikes, was initially preferred over Kai Havertz but suffered an injury after a collision with Newcastle, leaving the Gunners still searching for a reliable goal‑scorer. According to Sky Sports News, Arsenal intend to be proactive in the upcoming summer transfer window, targeting a forward, a central midfielder and a full‑back to reinforce a squad that finished second in the Premier League.
While Atletico are reluctant to part with Alvarez – the club reportedly values him at around £130 million even if the player were to request a move – the forward’s own preferences appear to lean toward Barcelona, according to a source close to the situation. Other Spanish insiders, however, suggest that Alvarez may not have a clear favourite destination, especially given the slim odds of a summer transfer.
Both clubs enter Wednesday’s semi‑final with historic ambitions. Simeone highlighted that this is Atletico's fourth appearance in a Champions League semi‑final in the last 14 years and the first in nine years, describing the achievement as "extraordinary" and "incredible." He praised the enthusiasm of the fans and the collective belief within the squad, insisting that the pressure feels more like excitement than anxiety. "We have never achieved this before, so the excitement is special.
Leadership defines these games and we need to be ready to impose our style and punish them when the chance arises," Simeone said. Arsenal, on the other hand, have a recent memory of beating Atletico 4‑0 at the Emirates during the group stage in October, a result that underlines their capability to exploit set‑piece situations – a facet Simeone specifically warned about. He noted, "We are going to face a tough game with a very good opponent and a set‑piece strategy that is very well worked.
Let's go with all the excitement." The Argentine captain Koke, whose contract expires at the end of the season, echoed the manager’s enthusiasm. He likened the pre‑match nerves to "butterflies in the stomach" and compared the feeling to a first date, emphasizing that once the warm‑up is over, it becomes just another football match, albeit a high‑stakes semi‑final. "We expect a very strong Arsenal side.
This is a Champions League semi‑final and that is how we approach it," he added. In summary, Julian Alvarez remains a coveted asset for several elite clubs, with Arsenal among the suitors.
While Atletico Madrid are unwilling to let the Argentine go cheaply – setting a price tag of roughly £130 million – the player’s personal inclinations and the competitive market will shape any potential transfer. Meanwhile, both sides are preparing for a pivotal encounter that could see Atletico finally capture the Champions League trophy for the first time in their history, while Arsenal aim to add another European accolade to their growing trophy cabinet.
The outcome of Wednesday’s match will not only determine who progresses to the final but also influence the summer transfer narratives surrounding one of football's most exciting young forwards.