Arsenal transfer news: Opening bid 'rejected' for La Liga forward as Mikel Arteta looks to sign Viktor Gyokeres replacement

Arsenal have had a bid for Julian Alvarez turned down by Atletico Madrid, the latest report has revealed.

Mikel Arteta's side got back to winning ways on Sunday, beating Tottenham Hotspur 4-1 in the North London derby to extend their lead at the summit of the Premier League to five points.

However, City have a game in hand and will host the Londoners in April, and there are concerns that Pep Guardiola's side will catch the Gunners, who have dropped points in five of their last eight top-flight matches.

Arteta's team have been criticised by fans and pundits for their attacking displays, as while Viktor Gyokeres scored twice against Spurs, he has failed to net in 19 of his 26 league games this term.

TEAMtalk claim that Arsenal are actively looking at signing another forward, and while they have seen a bid worth €120m (£104.58m) rejected by Atletico Madrid for Alvarez, they are prepared to increase their offer.

Julian Alvarez assessed: Why do Arsenal want Atletico Madrid striker?

Alvarez has not enjoyed a prolific season in La Liga having only scored seven goals and provided three assists in 21 games.

The 26-year-old did score 17 times in the league last season, and he also averaged 0.65 Premier League goal contributions per 90 in 2023-24, his final campaign at Manchester City.

That return would rank first amongst Arsenal players this term, with Eberechi Eze's return of 0.63 goals and assists per 90 the most in the Gunners squad.

Alvarez is excellent when linking play with teammates, an area that Gyokeres has consistently struggled in, and the Ateltico striker may be able to help improve the output of wingers such as Bukayo Saka and Noni Madueke.

Does Mikel Arteta have a problem with forwards?

During his time at Arsenal, Arteta has signed Gabriel Jesus, Kai Havertz and Viktor Gyokeres, but all three have failed to consistently impress when played as a number nine.

The potential addition of Alvarez would boost the squad, but there are concerns about whether the manager would be able to get the most out of the Argentine.

Arteta has enough firepower to win major trophies, and if they fail to clinch either the Premier League or Champions League this season, then the answer to the Gunners' attacking woes may not be a new signing but a new head coach.