Arsenal willing to complete outrageous swap deal to secure Julian Alvarez signing

Arsenal are reportedly willing to part ways with a £64 million signing to land Julian Alvarez this summer.

Mikel Arteta’s side will begin the 2026/27 Premier League campaign as champions, having pipped Manchester City to the title last term.

The Spaniard and his players will no doubt be keen to build on last season’s success, with the Gunners also reaching the Champions League and Carabao Cup finals, losing to Paris Saint-Germain and City respectively.

Arsenal have already welcomed Greek forward Christos Tzolis to the club during the summer transfer window, with the former Club Brugge star arriving as part of a £34 million deal.

Piero Hincapie has made his loan move permanent after impressing last season, while ex-Leeds United goalkeeper Illan Meslier has signed as back-up to David Raya.

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Jakub Kiwior and Leandro Trossard have both departed, signing for Porto and Besiktas respectively.

Arsenal willing to broker player-plus-cash deal for Julian Alvarez

Meanwhile, it is reported that Arsenal would be open to parting ways with Viktor Gyokeres despite the Sweden international signing for £64 million from Sporting CP just last summer, with the forward potentially being part of an exchange deal that also includes a transfer fee.

Gyokeres netted 21 times in 55 appearances last term, although his unpolished style of play was heavily criticised despite a decent goalscoring return.

According to The Times, Arsenal are willing to offer Gyokeres as part of a swap deal to bring Atletico Madrid and Argentina forward Alvarez to the Emirates.

Both Real Madrid, who saw a £129 million bid rejected earlier in the summer, and Barcelona have been heavily linked with signing the former Manchester City man, but Atleti would prefer to avoid selling their star player to a fellow La Liga club, which could bolster Arsenal’s hopes of brokering a deal.

Speaking about his future during the World Cup, Alvarez explained: “I spoke with people at the club, with those I had to speak with, and the best thing for everyone is ‌a transfer and I want to fulfil my dream.

“It's not the time to talk about this, but I also can't hide ⁠it. I try to ⁠be an honest person.”

Despite the player openly admitting he wants to leave the club, Atletico CEO Miguel Angel Gil Marin has insisted Alvarez is not for sale at any price.

“My position is clear, the club’s position is clear,” he said. “We’ve made it known to the player, his representatives, and the president of Barcelona.

“I have absolutely no doubt that Atletico is the right place in the world for Julian, and that Julian is the perfect centre-forward for Atletico Madrid. We want to keep him.

“I recently heard the president say that the offer he made to Atletico Madrid wasn’t unlimited. My only response is that our answer is unlimited.

“We do not want to transfer him. We didn’t accept an offer of €100 million, and we won’t accept one of €150 million or even €200 million.”

Alvarez is contracted to Atleti until 2030.