Alvarez's Arsenal U-Turn: The £100m Striker Who Said No Is Having Second Thoughts

Julian Alvarez said no to Arsenal in the summer. Now, three months later, the £100 million striker is reportedly having second thoughts — and the Gunners are ready to come back for him in January.

According to TEAMtalk, Arsenal are preparing a fresh January swoop for the Atletico Madrid forward, with growing optimism inside the Emirates that Alvarez would now seriously consider a move he rejected outright a few months ago. In the summer the Gunners were willing to pay more than £100 million — sporting director Andrea Berta held face-to-face talks with Atletico, and a phone call from Mikel Arteta himself — but Alvarez's heart was set on Barcelona, and the deal died.

What changed is the door at the Camp Nou. Barcelona are now exploring a deal for Erling Haaland, and signing the Norwegian would rule the Catalan club out for Alvarez. Meanwhile in Madrid the Argentine has cut a frustrated figure: Atletico blocked the Barcelona move, he has been booed by his own supporters, and four appearances this season have produced no goals. TEAMtalk reports he is unhappy with the prospect of a long-term future at the club, and his representatives have held talks with Arsenal in recent weeks.

One caution is needed here. A viral claim attributed to Guillem Balague — that the BBC reporter had confirmed Alvarez "now wants to join Arsenal" — was denied by Balague himself on October 7, who replied to the rumour accounts with four words: "I didn't say that." This is still a transfer in motion, not a done deal. But there is a classic tell: Alvarez is reportedly parting ways with his long-time agent Fernando Hidalgo after a difficult summer, and players rarely change representation when nothing is happening.

Arsenal, the reigning champions, sit second after the 3-0 defeat at Brighton, and the attack has stalled: Viktor Gyokeres is yet to score this season. A swap involving Gyokeres or Noni Madueke — both discussed in the summer — could be revived to lower the cost, with Ethan Nwaneri, currently on loan at Borussia Dortmund, another potential makeweight for a summer deal. If Alvarez does not come around, Arsenal are believed to have alternatives lined up: Bournemouth's Junior Kroupi and Brentford's Kevin Schade. Paris Saint-Germain and Bayern Munich are also watching developments, though neither is moving as decisively as Arsenal right now.

There is a parallel January track worth watching. Arsenal have made contact with Bayer Leverkusen forward Christian Kofane's agent, according to SportBild — the 20-year-old Cameroonian has seven goals in his debut Bundesliga season and caught Arteta's eye in last season's Champions League last-16 tie. But Manchester United are interested too, and Leverkusen are ready to offer him a big new deal to 2031. Arsenal's striker search is running on two fronts at once.

Cover photo: Bryan Berlin / WikiPortraits / Wikimedia Commons (CC BY-SA 4.0). In-article photo: Wikimedia Commons (Argentina v Egypt, 7 July 2026).

#Transfers #Arsenal #JulianAlvarez