Arsenal have been told they will have to fork out around £80m if they wish to sign Julian Alvarez from Atletico Madrid this summer, reports Football Insider.

Alvarez moved to the Spanish giants in 2024, leaving Manchester City for the Madrid powerhouse.

The Argentine enjoyed an impressive debut campaign for Diego Simeone’s side, scoring 17 league goals.

Alvarez still wanted despite goal woes

However, the 2022 World Cup winner has endured a disappointing season to date, netting just seven times, and has failed to score in nine league outings ahead of today’s welcome of relegation-threatened Mallorca.

Yet despite a dip in form, the 25-year-old is still a man in demand with Premier League leaders Arsenal monitoring the striker’s situation.

The Gunners are unlikely to make a move for Alvarez in January and instead wait until the summer if they are to firm up their interest.

Arsenal want Alvarez despite summer splurge

This comes despite Arsenal’s summer splurge last year as they spent big to reinforce their frontline.

Viktor Gyokeres joined from Sporting CP, though the Swede has struggled for consistency under Mikel Arteta, netting just five league goals this season.

In addition, Arteta is able to call upon Kai Havertz and Gabriel Jesus to lead the charge, even if the latter has been linked with a move away from the Gunners.

Barcelona also keen on Atletico hitman

Arsenal aren’t the only side monitoring Alvarez, and they’d face competition from La Liga giants Barcelona should Atletico entertain the striker’s sale.

The Blaugrana are considering replacements for Robert Lewandowski, who is out of contract at the end of the season.

Barcelona are unlikely to renew the 37-year-old’s current deal at Spotify Camp Nou, even after netting 78 goals in across 115 league outings following his arrival from Bayern Munich.

Both Arsenal and Barcelona are in league action today as the former host Manchester United, while the latter take on Real Oviedo.