Atletico Madrid will only sell Julian Alvarez if they receive offers close to £129m as Arsenal and Chelsea chase a deal for the Argentine forward this summer.

The Gunners have regularly been linked with a move for Alvarez, with Mikel Arteta remaining keen on bolstering his attacking options. And while Alvarez has over four years remaining on his contract at the Wanda Metropolitano, it appears that his current employers would be open to doing a deal.

According to Sport, Diego Simeone’s side could potentially listen to offers from Premier League sides should they be in the region of £129m. Any offer has to be in far excess of the reported £86m price tag that had previously been suggested, with Atleti having paid out around £82m in August 2024. Since then, Alvarez has gone on to make 98 appearances for the Spanish giants and scored 45 goals.

Barcelona have also been linked with Alvarez, albeit Atletico are not keen on doing business with any of their Spanish counterparts. The forward spoke out on his future recently and could not promise he would stay at the Wanda Metropolitano.

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He said: “I don’t know, I don’t know, but maybe yes, maybe no. You never know. But I’m very happy here. You ask me a question that will end up all over the place, but I’m happy.

"I’m thinking about the day-to-day, I’m working to improve, to give my best here, I never said anything bad about the club, I’m very grateful, the people also showed me their affection, so I’m very happy."

Atletico boss Diego Simeone has also spoken out but refused to discuss whether he could potentially be on the way out of the club. He said: "We won the other day and the question is whether Julian might leave or stay. Julian made the right comments. He’s giving us a lot. I tell our people that we’re doing well. I said we would compete, and we are competing."

Alvarez’s agent has also given his take on his client's future and suggested that he would only be on the move should another club agree a deal with Atletico. Speaking to Eremnews via Sport, Fernando Hidalgo, said: “Any club interested in Julian should contact Atletico Madrid’s management, as the player is under contract and committed to the club. It’s not true, I haven’t met with Deco or anyone from Barcelona during the current period.”

Alvarez will be back in action this weekend as Simeone’s side take on Getafe in La Liga. They currently sit third in the table but 13 points behind leaders Barcelona.

Atletico are also in prime position to secure a spot in the quarter-finals of the Champions League, having thumped Tottenham Hotspur 5-2 in their first-leg of their last-16 matchup.

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