The transfer drama surrounding Julian Alvarez has entered a crucial phase, and the latest developments will come as a major disappointment to Manchester United supporters.
The forward, who currently plays for Atletico Madrid and represents Argentina internationally, is reportedly open to returning to the Premier League. However, his preferred destination is said to be limited to one specific city — and that city is not Manchester.
According to reports circulating within football circles, Alvarez has made it clear that if he does head back to England, it would only be for London.
That stance has effectively reshaped the race for his signature into a direct battle between Chelsea FC and Arsenal FC, turning the pursuit into a high-stakes London rivalry for one of the most complete forwards currently available on the market.
At 26 years old, Alvarez has matured into one of Europe’s most versatile and reliable attackers. Since leaving Manchester City FC in 2024, he has delivered impressive numbers in Spain, registering 40 goals and 13 assists across 89 appearances. His time in England was equally successful.
During his spell at Manchester City, he secured two Premier League titles and played a role in the club’s historic treble-winning campaign in 2023, scoring 36 goals in 103 outings despite often rotating in and out of the starting lineup.
Alvarez’s appeal lies in his all-around skill set. He is comfortable leading the line as a traditional striker or dropping deeper to link play as a second forward.
He has already proven he can handle the physical and tactical demands of English football, and he is entering what are widely considered the peak years of a forward’s career.
Add to that his experience as a World Cup winner with Argentina, and it becomes clear why clubs are willing to invest heavily.
Reports suggest Chelsea may currently be edging ahead in negotiations. The club has allegedly held constructive discussions with Alvarez’s representatives, and there are indications that they are prepared to commit a substantial financial package, with figures around €100 million being mentioned. Arsenal, meanwhile, remain firmly interested.
Under Mikel Arteta, the Gunners are said to view Alvarez as a solution to their attacking inconsistency and could explore creative financial arrangements, potentially involving player exchanges, to complete a deal.
For Manchester United, this development represents a significant setback. Although there have been suggestions that the club expressed serious interest and even placed proposals, Alvarez’s reported preference for London appears decisive.
With United still searching for a reliable goalscorer, attention may now shift elsewhere.
Meanwhile, Atletico Madrid are not eager to lose their star. The Spanish club have reportedly offered an improved contract to persuade him to stay, and with a deal running until 2030, they hold strong negotiating leverage.
Any club hoping to secure Alvarez’s services will need to meet a nine-figure valuation — making this one of the summer’s most closely watched transfer sagas.
