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Julian Alvarez transfer choice revealed with Chelsea and Arsenal ‘ready to break the bank’

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Thursday, February 5, 2026

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Arsenal and Chelsea are interested in Alvarez decides to leave (Picture: Getty) Arsenal and Chelsea are ‘prepared to break the bank’ to sign Julian Alvarez this summer – but the Atletico Madrid star would prefer a move to Barcelona. The former Manchester City striker has been linked with a se...

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Arsenal and Chelsea are interested in Alvarez decides to leave (Picture: Getty)

Arsenal and Chelsea are ‘prepared to break the bank’ to sign Julian Alvarez this summer – but the Atletico Madrid star would prefer a move to Barcelona.

The former Manchester City striker has been linked with a sensational return to the Premier League this summer with Arsenal weighing up a move for the end of the season.

Key to any talks will be Andrea Berta, Arsenal’s sporting director who oversaw the Argentina international’s £81million move from City to the Wanda Metropolitano in the summer of 2024.

Chelsea have also been credited with keen interest in the World Cup winner.

Sport report there has been some movement over a potential return to England in recent weeks, suggesting Alvarez’s agent Fernando Hidalo was recently in the UK where they may have been some contact with the London clubs.

However, the report states Alvarez’s is not prioritising a return to England and would opt for Barcelona were an offer to be made.

The Catalan giants are also huge admirers of the 26-year-old but with an offer in the excess of €100million needed to even tempt Atletico into doing business, their financial position could leave a deal out of their reach.

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Real Madrid v Atletico Madrid: Spanish Super Cup
Alvarez has not scored a league goal from open play since September (Picture: Getty Images)

Barcelona are already committed to signing Marcus Rashford from Manchester United on a permanent deal after his impressive loan while the future of Robert Lewandowski will also be a factor.

Julian Alvarez’s worrying goal drought – a warning for Arsenal and Chelsea?

Alvarez scored 36 goals in 103 appearances for City while largely playing second fiddle to Erling Haaland.

He scored 29 goals in 57 appearances in his first season in Spain, 17 of those coming in La Liga where he started 30 of 38 games. But this season has been a struggle for the former River Plate youngster.

While he has four in seven Champions League outings, league goals have dried up somewhat this season with seven in 22 appearances. After a bagging five in two games against Rayo Vallecano and Real Madrid in the autumn, it has been hard going since.

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Alvarez scored four times in Argentina’s World Cup triumph (Picture: Getty)

Alvarez has just one La Liga goal in his last 15 matches – that one coming from the penalty spot against Sevilla at the start of November. For his last goal from open play, you have to go back to 24 September.

Alvarez hasn’t score since the Champions League victory over PSV Eindhoven on 9 December.

Diego Simeone recently defended his player. When asked why he or Atletico supporters should believe in Alvarez, Simeone replied: ‘Seriously? Are you seriously asking me that?

‘The truth is that Julian Alvarez speaks for himself, because of the name he has, the authority he carries, and the career he’s built, right?’

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