Chelsea hijack Julian Alvarez to Arsenal as BlueCo get £65m boost

Chelsea have reportedly taken their first step towards signing Julian Alvarez, with Arsenal and Barcelona also chasing the Atletico Madrid striker.

Alvarez has made no secret of his desire to leave Atleti this summer. The Argentina ace wants to join a club capable of winning league titles and Champions Leagues, which will in turn aid his chances of lifting the Ballon d’Or.

Alvarez made his return to the Metropolitano Stadium on Sunday, where he was subjected to a chorus of jeers from the Atleti supporters.

Alvarez would ideally like to join Barca. Hansi Flick’s side had a €100m (£85.5m) bid for the goalscorer swiftly rejected earlier this summer, and they will struggle to meet his price tag, which is understood to be €200m (£171m).

Arsenal and Chelsea are lurking in case Alvarez warms to the idea of a Premier League return.

As per Italian transfer reporter Nico Schira, Chelsea have begun the process of signing the 26-year-old by contacting Atleti.

Schira began by writing on X: ‘Juliano #Alvarez has an agreement with #Barça and pushing to leave #AtleticoMadrid, which would not want to sell him to #FCB.

‘After #Arsenal, #Chelsea have also shown interest in the argentinian striker.’

Schira added: ‘#Chelsea have explored the conditions of Julian #Alvarez’s possible deal last Thursday during the meeting in London with #AtleticoMadrid, when Atleti opened talks to try to sign Nicolas #Jackson from #CFC.

‘#AstonVilla are also working to sign Jackson.’

Chelsea could use Atleti’s interest in Jackson to try and sign Alvarez at a better price. The Blues value Jackson at £65m.

Such a transfer would immediately give Atleti a new No 9, even if the Senegal international is some way off Alvarez’s level.

The race to bring Alvarez back to England is heating up, as we revealed on Monday lunchtime that Arsenal are ‘prepared to break the bank’ to sign him.

The Gunners could launch a €150m/£128m bid if Alvarez informs them he is willing to consider moves other than Barca.

Fabrizio Romano has confirmed that Arsenal have the funds to complete a sensational deal for the player.

“And then don’t forget about Arsenal,” he said. “Because my understanding, I told you in the recent videos and I keep telling you today, is that Arsenal financially believe internally they could afford a deal for Julian Alvarez.

Chelsea, Arsenal vying for Julian Alvarez

“Especially if Gabriel Martinelli goes to Al-Hilal, and this deal is ongoing. The player is open to joining Al-Hilal. So Martinelli to Al-Hilal is possible.

“If Martinelli goes to Al-Hilal, it will be extra money for Arsenal. And so financially, Arsenal could afford a deal for Julian Alvarez. That’s the feeling at the club.

“Even if the price is high, they believe they could strike an agreement with Atletico Madrid. The point is the player.

“The player, until today, never opened doors to Arsenal. But Arsenal are still there, following the situation. If Julian changes his mind, decides to open doors to England and to Arsenal, Arsenal are still there, still watching the situation.

“So still watch out for Arsenal and Julian until the end of this summer transfer window, in case the player changes his position.”

Meanwhile, we can reveal Manchester City are planning a new move for Enzo Fernandez even after Chelsea’s recent deadline.