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Atlético Madrid head coach Diego Simeone declined to dismiss the possibility of a departure for highly coveted Julián Álvarez, a reported target for both Arsenal and Barcelona, instead deflecting the question toward the player himself, who may have already reached a decision.
Álvarez's future is set to become one of the most intriguing storylines of the 2026 summer transfer window.
A treble-winner during his time at Manchester City, Álvarez sought to step out of Erling Haaland's shadow in the north of England and establish himself as a central figure elsewhere. Atléti were eager to make the Argentine their next marquee star with Antoine Griezmann nearing the end of his career, bringing Álvarez in for approximately $110.6 million (€95 million) in 2024.
While not all of Atléti's high-profile attacking investments have flourished under Diego Simeone, Álvarez has proven to be an undeniable success in the Spanish capital. His two seasons at the club have ultimately ended in frustration, yet his performances have continued to attract the attention of Europe's top clubs.
Diego Simeone Provides Latest Julián Álvarez Transfer Update
Atléti's 2025–26 season concluded in miserable fashion, as they were hammered 5–1 by Villarreal on the final matchday. Once considered genuine title contenders, Los Rojiblancos fell to Real Sociedad in the Copa del Rey final on penalties and were eliminated from the Champions League at the semifinal stage.
A solid fourth-place finish in La Liga ensures their return to Europe's top club competition next season, though it remains uncertain whether their Argentine forward will still be leading the charge.
Speaking following Sunday's loss to the Yellow Submarine, Simeone was pressed on Álvarez's future. Rather than dismissing the question outright, the Atléti manager offered a candid and surprising reply:
"That's not a question for me, it's a question for Julián," Simeone told reporters, as quoted by SPORT.
"He's old enough to know what he's going to do, and I imagine he's probably already made up his mind," he added.
Who Is Leading the Julián Álvarez Race?
Spanish media sources are increasingly convinced that Álvarez will not be wearing the red and white of Atlético Madrid when the 2026–27 season kicks off. Should he leave, the striker would depart having netted 49 goals in 106 outings, including 10 in this season's Champions League campaign.
A powerful and technically gifted striker who is expected to play a prominent role for Argentina at the World Cup, Álvarez has drawn interest from both the Spanish and English champions.
Barcelona are strongly linked, given their pressing need to find a successor to Robert Lewandowski, though the financial demands of any deal — likely exceeding $115 million — could prove prohibitive for the 26-year-old's acquisition.
Arsenal are also firmly in contention, despite Viktor Gyökeres showing encouraging form late in the season and Kai Havertz remaining a viable central striking option. The Gunners are expected to make at least one significant attacking investment, and Álvarez could be their primary target.
Paris Saint-Germain could also enter the equation, given their considerable financial resources and the potential departure of backup striker Gonçalo Ramos.