Olympiacos have submitted an OFFICIAL loan proposal for Mexico captain Edson Álvarez — and talks with the player are reportedly positive | OneFootball

Edson Alvarez #4 of Mexico celebrates the team's first goal scored by Mateo Chavez #20 (not pictured) during the FIFA World Cup 2026 Group A match between Czechia and Mexico at Mexico City Stadium on June 24, 2026 in Mexico City, Mexico. (Photo by Lars Baron/Getty Images)

For much of the last two weeks, the Olympiacos midfield conversation followed a fairly consistent theme.

Remo Freuler would provide intelligence and control. The second signing would provide younger legs.

Gustavo Puerta.

Morten Frendrup.

Different players, but broadly the same problem: Olympiacos wanted somebody athletic enough to defend transitions and dynamic enough to play beside or around Freuler.

Edson Álvarez changes the question. SPORT24 now reports Olympiacos have made an official loan proposal for the West Ham midfielder and are holding positive player-side discussions. If this becomes the chosen move, Olympiacos are not merely changing targets. They are changing the type of midfield they want to build.

Álvarez would give Mendilibar something he currently does not truly have

A genuine defensive anchor. Santiago Hezze is an aggressive ball-winner, but his best football often involves leaving his position to attack the ball. Freuler reads space superbly but is 34 and should not be asked to absorb every large transition. Mouzakitis offers technical progression.

Álvarez is much closer to a player whose natural instinct is:

protect the centre;

win contact;

defend aerially;

screen the centre-backs;

and remain behind the attack.

That could dramatically alter Olympiacos’ risk tolerance.

Tiknizyan and an attacking right-back make this profile especially logical

Olympiacos have just signed Nair Tiknizyan. They continue pursuing an aggressive right-back.

Whether that becomes Mæhle, Belghali or somebody else, the likely outcome is clear:

Mendilibar wants the full-backs involved high up the pitch.

That requires insurance.

Álvarez could provide it.

Imagine possession with Tiknizyan high on the left and the right-back advanced. Instead of asking both midfielders to constantly shift into emergency coverage, Álvarez can remain as the central stabilizer in front of the centre-backs.

That gives the other midfielder more freedom.

Álvarez could actually make Freuler more useful

At first glance, adding another older prime-age midfielder after Freuler might appear less balanced than signing Puerta at 23. Tactically, however, the partnership could be extremely intelligent. Álvarez anchors.

Freuler interprets. One deals with physical danger. The other deals with positional danger.

Against stronger Europa League opponents, that could give Olympiacos a much more mature central platform than the one that became stretched against NEC.

He also creates a possible back-three solution during possession

Because Álvarez can play centre-back, Mendilibar could use him as a midfielder who drops between defenders during buildup. That matters when the full-backs push forward. Olympiacos could transition from a nominal back four into something closer to a three-man first line with Álvarez dropping.

That would allow the team to commit more players forward without completely abandoning rest defense.

The tactical flexibility is significant.

There is also a major difference between him and Puerta economically

Álvarez is not realistically being purchased for €10–15m. West Ham reportedly want more than €25m for a permanent sale. Olympiacos therefore appear to be exploring a loan. That could preserve transfer capital for Vargas, right-back and other needs while still acquiring a very high-level midfielder for the season.

The tradeoff is ownership.

Puerta could become a long-term Olympiacos asset. Álvarez would potentially strengthen the team without creating equivalent resale value unless a purchase mechanism were ultimately included. No such option has yet been reported.

Real Sociedad remain the obvious obstacle

This should not be minimized. Spanish and Mexican reporting had already placed Álvarez close to Real Sociedad, and SPORT24 says West Ham have a principle agreement with the Basque club. Spain may also be personally attractive to Álvarez.

Olympiacos therefore need more than West Ham saying yes. They need the player to choose Piraeus over San Sebastián. The positive conversations reported by SPORT24 are encouraging. They are not yet a yes.

The González factor may actually help

Olympiacos have just signed another Mexico international in Armando González, and the move has created enormous attention in Mexico. That does not guarantee Álvarez wants the same route. But having the Mexican national-team captain join a club where another Mexico international has just arrived would reduce some of the cultural isolation normally associated with the move.

It also tells Álvarez that Olympiacos are actively investing in Mexican talent rather than treating him as an isolated market opportunity.

The most revealing part may be the apparent change in recruitment strategy

SPORT24 explicitly frames this as Olympiacos moving toward a more defensive midfielder profile.

That is important. It may explain why the club can simultaneously have interest in Puerta, Frendrup and Álvarez without those reports necessarily being contradictory. The football staff are refining the role.

After Atromitos, despite a clean sheet, Mendilibar still saw a side that lacked complete control. Álvarez would be less about increasing creative output and more about making the rest of the team safer. That could ultimately be more valuable.