Atletico Madrid have turned down a €150 million (£129 million) bid from city rivals Real Madrid for star forward Julian Alvarez, as competition for the Argentine’s signature intensifies ahead of the new season.
The Spanish club confirmed the approach in an official statement, revealing that Real Madrid had formally submitted an offer for the 26-year-old attacker.
“Real Madrid C.F. announces that, following the meeting of the Board of Directors held today, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarez,” the statement read.
Atletico, however, declined the proposal and reiterated their stance on the player’s valuation.
“After reviewing and evaluating the offer, Club Atletico de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player’s release clause.”
Alvarez remains under contract at Atletico until 2030, strengthening the club’s position in negotiations. The former Manchester City striker is also attracting strong interest from FC Barcelona, who are reportedly preparing an offer worth around €100 million (£87 million).
Barcelona manager Hansi Flick and sporting director Deco are understood to be long-time admirers of the Argentine international, while reports suggest Alvarez would be open to joining the reigning La Liga champions.
The striker enjoyed another productive campaign under Diego Simeone, scoring 20 goals in 49 appearances across all competitions, including 10 in the UEFA Champions League. He also netted 29 times in 57 matches during the 2024-25 season after arriving from Manchester City in a deal worth up to €95 million.
Barcelona are already close to securing the signing of Anthony Gordon from Newcastle United in an €80 million move, and Alvarez would represent another major attacking addition if a deal can be struck.
Real Madrid, meanwhile, are expected to remain active in the transfer market, with plans to strengthen several areas of the squad, including defence and midfield.
Elsewhere, newly appointed Arsenal sporting director Andrea Berta is reported to have made informal enquiries about Alvarez earlier this year. Arsenal boss Mikel Arteta is keen to bolster his attacking options despite guiding the club to the Premier League title, with Bournemouth youngster Eli Junior Kroupi and Morgan Rogers of Aston Villa also on the club’s radar.
Alvarez is now set to focus on international duty with Argentina national football team as the world champions prepare to begin the defence of their World Cup crown, starting with a group-stage clash against Algeria national football team on July 17.
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