Arsenal pursue Julián Álvarez as sale agreements for Martinelli and Jesus advance
On 31 August 2026 Arsenal moved to convince Julián Álvarez to leave Atlético Madrid after reaching agreements to sell Gabriel Martinelli and Gabriel Jesus.
Álvarez has made clear he wants a move to Barcelona, while Atlético have insisted they will not sell to a La Liga rival. He returned to training on Sunday after being omitted from Atlético’s matchday squad for their win over Sevilla. Mikel Arteta is understood to have spoken to Álvarez last week and was told the Argentina international wants only Barcelona. Barcelona have agreed an £8.6m deal to sign Gabriel Jesus, who is entering the final year of his contract after dropping behind Kai Havertz and Viktor Gyökeres in the pecking order.
Barcelona, who sold Ferran Torres to Paris Saint-Germain, are reported to have not given up on signing Álvarez. Atlético have reached an agreement with Juventus for Jonathan David on an initial loan that includes an option to make the Canada forward’s move permanent next summer. Despite that deal, Atlético are said to be determined to retain Álvarez. Álvarez joined Atlético from Manchester City in 2024.
Arsenal remain hopeful the 26-year-old could change his mind but are believed to be monitoring several other attacking options. Iliman Ndiaye of Everton featured on their shortlist, although Tottenham are in advanced talks over a £60m deal for the Senegal forward. The club also missed out on Morgan Rogers to Chelsea and failed in an ambitious attempt to sign Vinícius Júnior, who signed a contract extension with Real Madrid.
On the left, Arsenal have signed Christos Tzolis as a replacement for Leandro Trossard. Martinelli is expected to move to Al-Hilal for £56m, a transfer that would free a place on the left even though Eberechi Eze can play that role. Martinelli scored six times in the Champions League last season but managed only one Premier League goal. He was left out of Arsenal’s squad for the opening-weekend fixture against Coventry.
Fábio Vieira looks poised to join Hamburg, where he spent last season on loan, for £8.6m. The deals for Martinelli, Jesus and Vieira are reported to be collectively worth more than £70m. Martinelli’s £56m departure would stand as a club-record sale for Arsenal.
Martinelli is due to have his medical on Monday. If completed, the £56m move would surpass the £40m Liverpool paid Arsenal for Alex Oxlade-Chamberlain in 2017.