Arsenal are exploring the possibility of launching a summer move for Atletico Madrid forward Julian Alvarez, sources have told ESPN. Gunners sporting director Andrea Berta has strong links with the LaLiga club after spending 12 years working there prior to moving to north London last March.

Berta negotiated Alvarez's €95 million ($82.4 million) transfer from Manchester City in August 2024 and sources suggest he retains a close relationship with the player's agent, Fernando Hidalgo, and his camp. The exact nature of Arsenal's contact is unclear, but sources suggest club officials have made informal enquiries to determine whether a deal would be possible before weighing up whether to formalize their interest later in the year.

Barcelona also hold a strong interest in Alvarez, but their ongoing financial difficulties appear to complicate a potential deal of this scale. Alvarez is thought to have a massive €500 million release clause in his contract, but sources in Spain suggest Atletico would demand a fee in excess of €100 million this summer, if they were willing to sell at all.

Alvarez has scored 40 goals in 85 games since joining Atletico and has a contract until 2030. The 25-year-old has impressed for the Spanish club since his departure from Manchester City.

Sources have told ESPN that Arsenal considered Alvarez among a number of forwards—including Benjamin Sesko, who joined Manchester United from Red Bull Leipzig—prior to signing Viktor Gyokeres from Sporting Lisbon last summer. Gyokeres has had a mixed start to life with the Gunners.

The 27-year-old scored his ninth goal of the season in Tuesday's Champions League win at Inter Milan but has struggled to replicate the prolific form which saw him average almost a goal a game in Portugal during two seasons with Sporting. He has made 27 appearances to date.

Gabriel Jesus netted twice against Inter and expressed his desire to stay beyond his current contract, which expires in 2027. However, Jesus confirmed that no talks had yet taken place over an extension, and sources have suggested Arsenal could be willing to listen to offers for the Brazilian at the end of the season.

Arsenal will soon have Kai Havertz fully fit again as the Gunners continue to challenge on four fronts. Midfielder Mikel Merino has operated as a makeshift striker on occasions when the club's three forwards were all unavailable.