Barcelona’s pursuit of Julian Alvarez remains firmly on the agenda as the club looks ahead to life after Robert Lewandowski.
However, any concrete move for the Atletico Madrid forward is expected to wait until the outcome of the club’s upcoming presidential election.
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Despite reports circulating in Argentina suggesting that a deal for Alvarez to join the Catalan giants has already been settled, no agreement is in place at this stage.
The Argentine striker is also attracting attention from the Premier League, with Chelsea and Manchester United both monitoring his situation. A return to England could appeal to Alvarez, who previously played for Manchester City.
Nevertheless, Atletico Madrid have made it clear that they are not actively seeking to part ways with one of their key players, even though his recent performances have dipped compared to last season.
According to Cadena SER, when Barcelona recently sounded out Atletico over a potential transfer, they were quoted a staggering €200 million fee.
Reports show that such a figure would rank as the second-highest transfer in football history, behind Neymar’s €222 million switch from Barcelona to Paris Saint-Germain in 2017.
Rather than preparing for a sale, Atletico are reportedly more inclined to secure Alvarez’s long-term future. Club officials are reportedly preparing a contract extension offer that would include improved financial terms, underscoring their intention to keep him in Madrid.
Although Alvarez has not consistently hit top form this campaign, his displays during the 2024–25 season underlined his quality. With Atletico under no financial pressure to sell, they are in a strong position to demand a premium.
For Barcelona, much will depend on the presidential race and its financial situation. Should Joan Laporta retain his position, interest in Alvarez could intensify, but the club would first need to comply with La Liga’s 1:1 financial rule before making any major investment.
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