Manchester City Enter Race for Alvarez Amid Arsenal's €150m Interest
Manchester City have crashed into the race to sign Alvarez from Atletico Madrid, threatening to derail what had looked like a huge Premier League move elsewhere.
The Treble winners have made initial enquiries over a dramatic loan return for the forward, according to Marca, as they scramble to plug an unexpected gap in Enzo Maresca’s attack.
Two years ago, City sold Alvarez to Atletico in an £82 million deal. Now his future in Madrid is wide open.
Arsenal’s €150m plan under threat
Arsenal have been circling for weeks. The London club are prepared to go as high as €150m (£130m) to land the 26-year-old and install him as a marquee signing at the Emirates Stadium.
Atletico have encouraged that route. They are ready to cash in and have effectively put out the welcome mat for Arsenal, waiting only for a clear signal from the player’s camp before inviting a formal offer.
But City’s late intervention changes the landscape. What had seemed like a straight path to north London now has a sharp bend in it.
Booed, absent, and blocked from Barcelona
The tension around Alvarez in Madrid has spiked in days rather than weeks.
He has missed training for three consecutive sessions after being booed by Atletico fans last Sunday, a public show of frustration that underlined the breakdown in the relationship.
His preferred destination is Barcelona. That much is clear. Atletico’s stance is even clearer: they refuse to negotiate with their Catalan rivals under any circumstances.
With the Camp Nou door effectively locked, pressure is mounting on Alvarez to accept a different move. Yet he remains deeply reluctant to return to the Premier League, even as options narrow and the clock on the window keeps ticking.
City’s striker problem
City’s interest is driven by necessity as much as nostalgia.
The recent exits of Omar Marmoush and Savinho have stripped Maresca’s squad of depth in the forward line, forcing a rapid rethink of their attacking options. The bench suddenly looks light. The margin for error has shrunk.
Alvarez would fix that problem instantly. He knows the club, the league, the expectations. In his previous spell at the Etihad, he scored 36 goals in 103 appearances and played a central role in the Treble-winning season, a proven big-stage performer in a side that demands nothing less.
On paper, it fits perfectly. On the ground, it is far more complicated.
Valuation, resistance and a late scramble
Despite City’s interest, formal talks between the clubs have not yet started. Atletico are holding firm on a huge valuation and see no reason to soften their stance with Arsenal ready to pay a premium.
A loan, as City are exploring, would have to navigate not only that financial wall but also the player’s own hesitation about coming back to England.
Severe financial demands on one side. Personal resistance on the other. And very little time.
If City are serious about pulling off a late loan swoop, they will need to break through both barriers in days, not weeks. Arsenal are waiting, Atletico are listening, Barcelona are blocked.
The next move belongs to Alvarez – and it could reshape the end of this transfer window.
