Julian Alvarez to Arsenal – Contact initiated, transfer funds, Edu and Arteta's stance

Arsenal are interested in Manchester City's Julian Alvarez as a potential new striker, with the Mirror reporting that the London club have set their sights on the 24-year-old, who manager Mikel Arteta is a big fan of.

According to HITC, the club have already made contact with the player's representatives. However, no official offer has yet been made to City and all parties are closely monitoring the situation.

Despite ongoing talks between Arsenal and Alvarez's side, City have so far turned down initial inquiries from Atletico Madrid, PSG, Chelsea and the Saudi Pro League for the Argentine. In addition to targeting Alvarez, Arsenal have already secured the signing of new defender Riccardo Calafiori and confirmed the permanent retention of goalkeeper David Raya after a successful loan spell.

However, the club are still looking for a midfielder and a number 9 like Alvarez. He could provide a solution up front, especially given the deployment of Kai Havertz as a false number 9 in the 2023/24 season and the loss of former City striker Gabriel Jesus in the front line.

What Alvarez said about his future plans

Alvarez has suggested he is struggling after a season where he played second fiddle to City's star striker Erling Haaland. The 24-year-old was transferred from River Plate in 2022 and despite a string of successful appearances for City, he has indicated he is considering his options, according to Football London.

Alvarez said: “Last season I was one of the players with the most minutes at City. But… in the end, you don't like to be left out in important games; you want to contribute.”

“I'm going to take my time to think about what I want for myself. We'll see after the Games. First, if I can, I'll take a few days off. Then we'll decide.”

A Copa America winner this summer, Alvarez returns from the Paris Olympics after a quarter-final defeat to France. Is it time for the youngster to decide his future?

The break with Guardiola

Following Alvarez's comments about his unhappiness at City, manager Pep Guardiola was quick to dispel any rumours of discontent within his league-winning side. The City boss is known for his honesty about his team's morale and continues to reiterate his stance on letting unhappy players go.

Speaking on Alvarez's future at the Etihad after City's 4-2 win over Chelsea in pre-season, Guardiola said: “No news. I have nothing to say. He will come back, I count on him, but he said in the news that the decisions will be taken all together. Now he has to rest and when he feels ready to come back, he will come back.

“I'm sure that when he comes back, I'll hug him and congratulate him for the Copa America, for the Olympics and we'll start working together. That's the reality. What's happening in the meantime, I have a thousand million things to think about for the team.”

“Next week we will play for the first trophy of the season [the Community Shield against Manchester United at Wembley]. In two weeks we will play again at Stamford Bridge, that is my only concern.

Funding a transfer for Alvarez

Arsenal have already splashed the cash this summer, with £42m spent on defender Calafiori and a further £27m to confirm Raya's transfer from Brentford – meaning they have spent almost £70m in total on two big stars.

The north London club had not planned to sign bigger deals. But the transfer of Emile Smith Rowe to Fulham and Marseille's interest in Eddie Nketiah could provide the funds needed to sign Alvarez if he becomes available.

Fulham have broken their own transfer record by acquiring Smith Rowe in a deal that could be worth £34m with bonuses, with an initial £27m from Arsenal. Marseille's interest in Nketiah has cooled somewhat after it was reported that Youssoufa Moukoko was heading to the French club from Dortmund on a loan deal with an option to buy, but he is still expected to be transferred before the transfer window closes.

According to Football London, Crystal Palace have also been linked with a move for Nketiah and could strike a deal if either Eberechi Eze or Jean-Philippe Mateta decide to follow in Michael Olise's footsteps and leave the club. If the 25-year-old decides to follow in Smith Rowe's footsteps and leave Arsenal, the funds created by those departures could be used to pursue Alvarez.

Alvarez transfer value and City's asking price

This raises the question of how much the City star is actually worth in the current market – both by his club and the overall transfer window.

City are looking to pocket £70m initially for Alvarez's signing and even more in add-ons to sell the striker – meaning Arsenal could end up having to part with close to £80m in total.

While City paid just £18million for Alvarez in 2022, the forward has won the World Cup with Argentina as well as the Copa America for a second time. He has also won the Champions League title and two Premier League titles – the trophy Arteta aspires to win for Arsenal.

The arrival of a proven champion and top scorer in Alvarez – especially if he comes from a direct rival – could prove to be the answer to Arsenal's questions when it comes to finally securing the title. However, City will not be keen to strengthen their closest rivals.

Who else is interested in Alvarez?

Arsenal are not the only club vying for Alvarez's signature – the striker is also on the radar of Spanish clubs and Premier League rivals.

Atletico Madrid have expressed an interest in acquiring Alvarez, but City's asking price is proving too high for the Spanish side. Paris Saint-Germain and Chelsea have also expressed an interest in the 24-year-old, meaning Arteta would have to fend off both the French champions and London rivals Chelsea to secure a new striker.

However, Arteta could look to give his all in a renewed quest to win the league, and Alvarez could well be part of those plans.

Edu and Arteta's position

Arsenal sporting director Edu is said to be a big fan of Alvarez, according to HITC, as well as current boss Arteta.

Both Arteta and Edu are said to be keen to complete a deal for the striker if finances and timing align for both clubs. However, at this stage only preliminary discussions with the player's representatives have taken place, with no formal offer submitted to City.

Nevertheless, the duo are keeping a close eye on Alvarez's situation and could see the forward as the solution to their attacking problems, should he become available.