Arsenal are reportedly weighing up a move for Atletico Madrid forward Julian Alvarez, fueling speculation of a Premier League return for the World Cup winner. The Gunners' interest in the Argentine forward dates back to last summer, but they eventually signed Viktor Gyokeres from Sporting Lisbon. However, Gyokeres has struggled to find consistent form at the Emirates, scoring just five Premier League goals in his debut season, which has prompted Mikel Arteta to consider bolstering his attacking options once more.

Alvarez, who previously played for Manchester City, has a strong track record, and Arsenal are long-term admirers of his talents. According to reports, Arsenal are exploring a potential summer move for the Atletico Madrid star, with sporting director Andrea Berta having strong connections to the Spanish club. Berta was instrumental in negotiating Alvarez's initial transfer from Manchester City to Atletico Madrid and maintains a close relationship with the player's agent, Fernando Hidalgo.

Despite Atletico Madrid's consistent stance that they have no intention of selling Alvarez, reports suggest they might consider offers exceeding €100 million. Alvarez has a contract with the Spanish club until 2030 with a release clause of €500 million.

Alvarez's agent addressed the transfer rumors, stating that any club interested in the player should contact Atletico Madrid's management, as he is under contract and committed to the club. He also denied having met with anyone from Barcelona amidst speculation linking the player to the Catalan club. Alvarez himself has remained relatively unfazed by the transfer talk, stating earlier this season that it doesn't bother him.

Arsenal spent approximately £250 million last summer. The club may look to sign a new attacker, midfielder, and right-back this summer. According to David Ornstein, Arsenal may renew their interest in Alvarez after the season.

The potential arrival of Julian Alvarez could provide Arsenal with a significant boost in their attacking prowess. His versatility, work rate, and proven goal-scoring ability would offer Arteta tactical flexibility and a competitive edge. However, securing his signature won't be easy, with Atletico Madrid likely to demand a substantial fee and other top clubs potentially vying for his services.