What Julian Alvarez has now told Arsenal as club officials agree deal with Atletico Madrid

Julian Alvarez to Arsenal remains a hot topic of conversation and the deal might very much still be alive in some way.

Alvarez is believed to be Mikel Arteta’s number one attacking target and despite his value being north of £100m, there is a feeling Arsenal could do a deal if all parties are willing.

The player himself received a frosty reception from Atletico Madrid fans this weekend, further enhancing the idea he could be on his way out.

However, according to Spanish journalist Gerard Romero, there is still one major obstacle stopping Arsenal from doing a deal.

Julian Alvarez has now actually rejected Arsenal directly

In what is something of a bombshell update, Spanish transfer insider and journalist Romero has now claimed that a deal has actually been agreed between Atletico and Arsenal.

Romero has claimed that the two clubs struck a deal last Thursday, only for Alvarez himself to reject the Gunners once club officials got in contact.

Further, Romero also suggests that as expected, Alvarez is waiting for a move from Barcelona.

The Argentinian is said to see Barca as the only logical step for his career but there remain doubts over whether the Catalan club can fund the move.

Last Thursday afternoon, Arsenal and Atletico Madrid agreed a deal for Julian Alvarez. Members of Arsenal's staff got in touch with Alvarez last Thursday, and he turned them down. He is still waiting for Barça in the final days of the window. [@gerardromero]

— Z (@ZRAFC) August 23, 2026

As for the player himself, a frosty reception today from the home fans only plays into Arsenal and Barca’s hands.

For the Gunners, should Barcelona not put up the money, then Alvarez might be faced with little choice but to move to north London.

As expected, this one looks like it might go to the wire and it’s a huge deal for Arsenal fans to keep tabs on as the window end approaches.