Arsenal transfer news: Atletico Madrid issue 'ultimatum' to Barcelona-linked Julian Alvarez

Atletico Madrid have reportedly given an "ultimatum" to Julian Alvarez over his future ahead of the summer transfer window.

In his two years at the La Liga giants, the Argentina international has showcased his ability as a first-team star having not always been viewed as that at Manchester City.

A total of 49 goals and 17 assists have been contributed from 106 appearances in all competitions, including 25 goals and eight assists in Spain's top flight.

However, despite a Copa del Rey runners-up medal and a deep run in this season's Champions League, Atletico are no nearer to winning another La Liga title.

As a result, question marks have emerged over the 26-year-old's long-term future when the likes of Arsenal and Barcelona are said to be monitoring the situation.

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Atletico take Alvarez stance

Speaking on Radio Marca, journalist Roberto Gomez claimed that Alvarez has already been informed that his future cannot develop into a summer-long saga.

Gomez said: "Atlético de Madrid has issued an ultimatum to Julián Álvarez."

Furthermore, in what appeared to be a message to interested clubs, he added: "If you have an offer, make it now. Don't wait here until August 14th or 15th at midnight."

August 16 is the start date for the 2026-27 La Liga campaign.

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How much could Alvarez cost?

When signing Alvarez from Man City, Atletico committed to a deal worth in the region of £81.5m.

Since then, his reputation has only been enhanced, subsequently meaning that Atletico will feel well within their rights to demand a bigger fee.

Barcelona are highly unlikely to be able to afford Alvarez, but Arsenal may be tempted to push ahead should it become apparent that Alvarez could be purchased for somewhere in the £80m bracket.

Marca have previously suggested that Alvarez is eager to leave Atletico and has already turned down a contract extension.

That said, he still has four years remaining on his existing terms.