In the summer of 2024, just before Atletico Madrid tried to sign Julian Alvarez, Luis Enrique’s Paris Saint-Germain showed strong interest in him. Enrique was determined to get Alvarez at all costs, and PSG offered him a lucrative contract of over €22 million (before tax). It was at this point that Atletico coach Diego Simeone stepped in. He spent weeks calling, fighting and trying to convince the Argentine striker that he was the ideal player for Atletico and that he must sign, must come to Atletico.
Among those who spoke to Alvarez were Giuliano, Nahuel Molina, Rodrigo De Paul, and of course Simeone himself. Even Antoine Griezmann messaged him on Instagram to persuade him to join Atletico Madrid. This story is well-known. As a result, Alvarez turned down the big money from PSG and signed with Atletico Madrid. Alvarez penned a five-year contract with Atletico, with a post-tax annual salary of €6 million – almost half of what he could have earned in Paris. The contract also included a €500 million release clause.
In his first season, Alvarez scored nearly 30 goals during the campaign, becoming the team’s leader and figurehead. A few months later, during the Club World Cup (held in Miami at the time), De Paul informed Atletico that he wanted to transfer to Inter Miami. It was also during the same tournament that Arsenal sporting director Edu Gaspar called Atletico Madrid, stating that Arsenal wanted to sign Alvarez. The Gunners made an offer of €100 million in fixed transfer fee plus nearly €20 million in add-ons for Alvarez. Atletico evaluated the offer and subsequently rejected it. Atletico’s senior management told Gaspar: Julian is not for sale, he is untouchable, and there is no room for negotiation.
Also during that Club World Cup, Atletico Madrid promised Alvarez and his agent that they would work hard to offer him a contract extension with a salary increase.
However, months passed, and after the closure of the 2025 summer transfer window, this promise was not fulfilled. This situation made Alvarez and his agent unhappy. The club told them that due to excessive spending in that summer’s transfer window, they were temporarily unable to afford Alvarez’s salary increase request. Relations between the two parties became tense at one point, and negotiations reached a complete stalemate.
With the arrival of Mateu Alemany, negotiations took a turn for the better. After Alemany joined Atletico Madrid with full authority, he immediately injected new momentum into the negotiations and restarted communication with Alvarez’s agent and the player himself. Alemany held several positive conversations with Alvarez and his team, and a few days later offered the Argentine striker an important contract extension with a salary increase, which will take effect from the 2026-27 season.
Alvarez is happy in Madrid and grateful to Atletico Madrid. But he has repeatedly emphasized to those around him that he currently hopes to focus on the latter part of the season, strive for good results and work hard to win the championship. He will only make a decision about his future after June 30.
Several clubs are interested in the Argentine striker. During the winter transfer window, PSG once again inquired about Alvarez’s situation, but Atletico did not respond.
Arsenal have also maintained continuous attention. However, so far, Alvarez himself is not keen on returning to the Premier League. As for Barcelona? There is a lot of speculation outside that he may become a trump card for Barca president Joan Laporta’s election. But so far, neither Alvarez nor his agent has met with any Barcelona figures or candidate teams.
