Fabrizio Romano: Arsenal Hold Direct Talks with Atletico Over Julian Alvarez Transfer
London / Madrid – August 21, 2026 — Transfer expert Fabrizio Romano has revealed that Arsenal have held direct conversations with Atlético Madrid regarding Julián Álvarez, even as the Spanish club continues to insist the Argentina international will remain at the Metropolitano.
In a detailed update, Romano explained that Atlético’s position has not shifted. Despite recent interest from Barcelona, who had been waiting on developments, there has been no significant progress on a move for the 26-year-old forward.
Atlético Madrid’s director Mateu Alemany was in London in recent hours to discuss various opportunities, including talks involving Chelsea’s Nicolas Jackson.
Importantly, Romano confirmed that Arsenal and Atlético have spoken specifically about Álvarez. The Premier League champions wanted to understand the potential terms of a transfer for a player they have long admired.
Mikel Arteta’s appreciation for Álvarez is well-established, with the Gunners monitoring him closely since his move from Manchester City.
However, Álvarez himself has never initiated discussions with Arsenal. His preference throughout the summer has publicly leaned toward Barcelona as the club where he hopes to “fulfil his dream.”
Atlético, for their part, continue to maintain that the player is not for sale, particularly to their La Liga rivals.
The financial side remains a major obstacle. Any potential deal would hinge on the valuation Atlético place on their star and whether Álvarez would be willing to open the door to a return to England.
Romano stressed that this is not a straightforward situation and that no agreement is close.
“I’m not here to tell you that Julián is 100% joining Arsenal, because that depends on the price and the player’s position,” Romano noted. “It’s not a simple story… but it’s certainly a file to follow after the contacts that took place in London.”
The late-summer developments come as the transfer window enters its final stretch. Álvarez’s future has been one of the most closely followed sagas of the window, involving public statements, firm club stances, and interest from multiple top European sides.
Whether Arsenal can turn exploratory talks into a concrete opportunity will depend on negotiations in the coming days.
For now, Atlético Madrid remain resolute, Arsenal stay interested, and the player’s next move is still far from decided.
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