'.

Arsenal could offer swap deal to sign key forward target

Arsenal could offer a swap deal involving Viktor Gyokeres to sign Julian Alvarez from Atletico Madrid, though Alvarez still wants to join Barcelona.

Julian Alvarez raises his arm in celebration
Photo by Fran Santiago/Getty Images

Gary Jacob and Paul Joyce report for The Times that Mikel Arteta is interested in signing Julian Alvarez from Atletico Madrid this summer, and the Gunners could potentially offer a swap deal involving Viktor Gyokeres.

Football insider Hand of Arsenal also reported on Tuesday that Atletico have interest in Gyokeres, and that the player could be involved in Arsenal’s pursuit of Alvarez.

But the player’s dream is Barcelona, with personal terms already agreed, and Barcelona will keep trying despite Atletico’s clear preference to sell abroad.

The same source claims Alvarez would be very open to joining Arsenal, but seemingly only in the scenario where Barcelona pull out.

Isaan Khan confirms for the Daily Mail that Atletico do hold an interest in Gyokeres, and Arteta definitely wants him.

Julian Alvarez of Atletico Madrid looks on during the UEFA Champions League 2025/26 Quarter-Final First Leg match between FC Barcelona and Club Atlético de Madrid at Estadi Olimpic Lluis Companys on April 08, 2026 in Barcelona, Spain. (Photo by Eric Alonso/Getty Images)
Photo by Eric Alonso/Getty Images

Over in Spain, reports continue to suggest that the Spanish clubs remain the frontrunners for Alvarez, due to the player’s personal preference to remain in the country.

Marca report that despite interest from Arsenal and PSG, Alvarez is prioritising Barcelona and Real Madrid, with Barcelona as the clear favourites among the four teams.

Yet Marca add that if Barcelona can’t meet Atletico’s demands, Alvarez could be forced to take another path.

Lamine Yamal of FC Barcelona is tackled by Julian Alvarez of Atletico Madrid during the UEFA Champions League 2025/26 Quarter-Final First Leg match between FC Barcelona and Club Atlético de Madrid at Estadi Olimpic Lluis Companys on April 08, 2026 in Barcelona, Spain. (Photo by Eric Alonso/Getty Images)
Photo by Eric Alonso/Getty Images

That may well end up being the case, as 20 Minutos Sevilla are reporting that Atletico are currently refusing to sell to Barcelona for any less than Alvarez’s €500m release clause.

It seems Atletico would be willing to negotiate with Arsenal or PSG for much less.

This saga is certainly set to drag on for a while longer, particularly if Arsenal are going to be successful and ultimately sign the player. Barcelona are unlikely to give up for a while yet, and it seems an Arsenal deal can’t progress until then.

A shot of Julian Alvarez in an Atletico Madrid kit from below him. It is night
Photo by Fran Santiago/Getty Images
Related Topics