Football365
·17 June 2026
Arsenal reach decision on spectacular Alvarez, Gyokeres swap after ‘agreement’ claim

In partnership with
Yahoo sportsFootball365
·17 June 2026

Amid claims Arsenal and Atletico Madrid have agreed to exchange €50m plus Viktor Gyokeres for Julian Alvarez, our colleagues over on TEAMtalk have revealed what’s really going on.
It’s no secret Arsenal dream of signing Julian Alvarez, and they’re not alone in that regard. He’s Barcelona’s top target to replace Robert Lewandowski, and an official €100m bid has already been turned down.
Real Madrid too have interjected themselves into the mix, with Los Blancos seeing a gigantic €150m bid knocked back soon after Florentino Perez won re-election as the club’s president.
In truth, Real’s bid was more of a political stunt, with their true top target actually Michael Olise of Bayern Munich and France.
In any case, Atleti laughed off both bids from their bitter rivals and while they fully intend to keep Alvarez, it’d be more palatable selling to Arsenal than Real or Barca.
And overnight, stunning reports out of Spain claimed Arsenal and Diego Simeone’s side had agreed to a swap deal involving Alvarez and Gyokeres.
It was claimed Arsenal would send Gyokeres plus €50m to Atleti in exchange for the Argentine, with the overall value of the deal worth €150m / £130m.
However, our colleagues over on TEAMtalk have done some digging and their insider, Graeme Bailey, has confirmed no such agreement has been struck.
The story doesn’t end there, however, with Bailey noting ‘lines of communication’ between Arsenal and Atletico Madrid ‘remain open’.
Arsenal haven’t given up on signing Alvarez this summer, though their ideal aim would be to land the Argentine and retain Gyokeres too, rather than replace him.
Bailey explained: “A scenario involving Gyokeres currently appears unlikely.
“TEAMtalk understands both Arteta and Berta are huge admirers of Gyokeres and believe the striker still has significant room for development at the Emirates Stadium.
“There is a strong belief internally that the Sweden international can improve considerably over the coming seasons and become one of the Premier League’s leading forwards.
“As a result, Arsenal would be extremely reluctant to involve him in negotiations.”
Getting back to Alvarez, Bailey pointed to Barcelona as being Arsenal’s biggest obstacle in this transfer saga.
Atleti don’t want to sell to a domestic rival, but the player has a clear preference on who he wants to join and it’s the Catalonians.
Bailey added: “For now, though, all roads still lead back to Barcelona.
“That reality is preventing Arsenal from advancing beyond exploratory discussions despite their willingness to strike a deal with Atletico.
“Nevertheless, sources insist the Gunners remain very much in the picture.
“Should Alvarez decide that his long-awaited move to Barcelona is no longer achievable, Arsenal are, we are told, best positioned to capitalise.
“The groundwork has already been laid, dialogue with Atletico remains active and the willingness to do business is there on all sides. The next move, however, rests with Alvarez.”







































