Arsenal transfer news: Viktor Gyokeres offered in 'exchange' for Mikel Arteta striker target with £432m release clause

Arsenal explored a swap deal for Julian Alvarez that would have seen Viktor Gyokeres join Atletico Madrid, the newest report has revealed.

Gunners fans have grown increasingly concerned by the club’s lack of activity this summer, especially because of the lack of offensive reinforcements.

Mikel Arteta’s side only scored 71 Premier League goals last season, and it is difficult to see them retaining their title without extra firepowrer.

The Londoners have been linked with a number of attackers, including Atletico Madrid’s Alvarez, but the La Liga giants having already rebuffed approaches from Barcelona and Real Madrid, pointing to the striker's £432m release clause.

A new report from talkSPORT has revealed that Arsenal explored the possibility of sending Gyokeres to Atletico as a makeweight for Alvarez during initial talks for the forward.

Why do Arsenal want Julian Alavarez to replace Viktor Gyokeres?

Alvarez is currently with the Argentina squad that will hope to beat England in the World Cup semi-final on Wednesday, and he was responsible for them progressing against Switzerland in the quarter-finals, scoring from range in the 112th minute to give his side a 2-1 lead.

The 26-year-old scored 20 goals and provided nine assists in 49 games for Atletico Madrid last term, but his impact goes beyond direct goal involvements given he demonstrated an immense ability to link play with teammates in the final third.

Gyokeres scored 14 Premier League goals for Arsenal in 2025-26, and while that return might be respectable on the surface, there are serious concerns about his long-term suitability.

The Swede netted 11 non-penalty goals in the league, and eight of those came against clubs that finished in the bottom eight.

His limited impact against teams in the top half of the table was alarming, and heading into the new season with him as the leading nine would be risky.

Mikel Arteta's attacking revolution at the Emirates

Replacing Gyokeres with someone more complementary to Bukayo Saka would benefit the team, though the Argentinian would not solve all of the club's attacking issues.

There was a lack of threat on the left flank for much of 2025-26, with Gabriel Martinelli scoring just one Premier League goal, so it is easy to see why the Gunners are targeting Morgan Rogers.

However, without a creative passer from deep in the mould of Bruno Guimaraes, then Arsenal's forwards could continue to struggle, meaning the signing of a midfielder should be seen as a key priority.