Arsenal vs. Chelsea: Which Premier League club are the favourites to sign Atletico Madrid star Julian Alvarez?

Chelsea have reportedly moved ahead of Arsenal in the battle to sign Atletico Madrid Julian Alvarez during this summer's transfer window.

Alvarez played in the Premier League for Manchester City between 2022 and 2024, scoring 20 times and registering 11 assists in 67 appearances in the competition.

In total, the Argentina international had 36 goals and 19 assists in 103 matches for Man City before making the switch to Atletico in the summer of 2024.

The 26-year-old has scored 40 goals and registered 13 assists in 89 matches for Atletico, including 11 goals and five assists in 32 outings this term.

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Chelsea 'ahead of Arsenal' in battle for Alvarez

Alvarez has not actually scored in the league since the start of November, though, and there is currently a host of speculation surrounding his future.

Arsenal have been heavily linked with the South American, while Barcelona are also believed to be considering moving for him during this summer's transfer window.

However, according to ESPN Argentina, Chelsea are currently at the head of the queue.

The report claims that the Blues have overtaken Arsenal, with Alvarez keen to secure a return to the Premier League during this summer's transfer window.

However, Atletico have the forward on a contract until June 2030, and Chelsea could have to pay in the region of £100m to bring him back to the Premier League.

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Would Alvarez be a good signing for Chelsea?

Chelsea need to bring a new striker to Stamford Bridge this summer if they are serious about becoming challengers for the Premier League title in 2026-27.

Liam Delap has only managed two goals in 22 appearances, and head coach Liam Rosenior needs another option through the middle to provide competition for Joao Pedro.

Alvarez is proven in the Premier League is also a World Cup winner, so there would not be much risk attached to the transfer.

That said, Atletico are believed to want in the region of £100m for the South American, so it is a transfer that Chelsea would have to think very carefully about in the coming months.