Julián Álvarez's Barcelona transfer could see Mikel Arteta reunited with star at Arsenal in blockbuster deal

If Julian Alvarez completes a transfer from Atletico Madrid to Barcelona, Arsenal could benefit by securing a highly rated goalscorer who could turn them into the Premier League's outright dominant force next season.

Despite losing 4-3 on penalties to Paris Saint-Germain in the Champions League final on Saturday (May 30), Mikel Arteta will look back on the 2025/26 campaign with pride, having guided the Gunners to their first Premier League title since 2004.

But the club will no doubt already be planning for next season, with the summer transfer window set to open on June 15.

And while the window is not officially open, clubs are already making moves, with Newcastle and Barcelona reaching an agreement on Anthony Gordon's £69.2 million move to Catalonia last Friday (May 29).

Barca have also been heavily linked with making Marcus Rashford's season-long loan move permanent, as well as lodging a reported £77.9 million bid for Atletico Madrid forward Alvarez, which was rejected.

Catalan media have reported that a deal was discussed, although Atletico deny that an official offer was ever received.

Alvarez, who joined Atleti from Manchester City for £81 million in 2024, has produced 49 goals and 17 assists in 106 appearances for Diego Simeone's side.

He has also attracted attention from PSG, although conflicting reports on Monday (June 1) claimed the Parisians' interest had cooled.

How could Álvarez to Barça benefit Arteta and Arsenal?

According to TEAMtalk, Ferran Torres' future at Barca may depend on Alvarez's potential arrival, with the Spain international's availability alerting several Premier League clubs, including Chelsea, Arsenal and Aston Villa.

Torres, who, like Alvarez, previously represented City and even worked with Arteta when he was a coach at the club, was a pivotal player in Barcelona's La Liga triumph last term, contributing 21 goals and three assists across all competitions.

The 26-year-old is reportedly frustrated by the talk of Alvarez's arrival and would not want to play second fiddle if the Argentine does arrive at Camp Nou, creating an opportunity for a move this summer.

Head coach Hansi Flick and Barca's football department remain interested in signing Rashford, which would likely see Torres' game time reduced even further should an agreement be reached between the Catalans and Manchester United.

Arsenal boss Arteta is said to be a long-term admirer of the Spanish forward and maintains a good relationship with him from their time together at City.

Speaking after the Champions League final, The Athletic's David Ornstein claimed that the left side of Arsenal's attack will be Arteta's recruitment priority this summer. Despite being a forward, Torres is also comfortable playing on both wings.

Speaking on TNT Sports, Ornstein explained that Arsenal are in a strong financial position to spend big ahead of the 2026/27 campaign.

He said: "The revenues are going through the roof at Arsenal. It's a period of milk and honey, which wasn't always the case. They were a team that struggled following the Emirates Stadium move.

"They posted profits, but that was because they were selling many of their best players. They weren't competing. They went 15 years or more making profits, but in the last seven years they have posted losses because the Kroenkes have backed Arteta in the market.

"They've invested very heavily and have even put their own money in, which everyone was asking for. They wanted success now, and it's been vindicated."

Outside of the Premier League, Como head coach Cesc Fabregas is also a fan of Torres and would like to add him to his squad ahead of the Serie A club's first season playing Champions League football.

Torres is contracted to Barca until 2027 and is reported to be earning €250,000 (£216,000) per week, inclusive of bonus payments.