Chelsea transfer news: Blues 'explore' late hijack for £128m Arsenal target after London meeting

Chelsea have emerged as another potential destination for Julian Alvarez as the Blues explore a late move for the Atletico Madrid striker.

Premier League champions Arsenal remain firmly interested in the Argentina international, but the Blues have now made last-minute contact over a potential deal.

However, Barcelona remain Alvarez's preferred destination and could still scupper any move.

Chelsea consider late Julian Alvarez hijack

Chelsea have reportedly explored the conditions of a potential move for Alvarez after making contact with Atletico Madrid.

According to reports, Chelsea discussed the 26-year-old during last week's meeting with Atletico in London, when the LaLiga outfit were also attempting to sign Nicolas Jackson.

That interest could potentially work in Chelsea's favour. Atletico need another striker if Alvarez leaves, and Jackson is reportedly valued at around £65 million by the Blues.

Alvarez has been linked with Arsenal for much of the summer, while Barcelona remain his preferred destination.

The Catalan club previously saw a €100 million (£85 million) offer rejected and would still struggle to meet Atletico's demands. Latest reports suggest they would now consider selling Alvarez for around €150 million (£128 million).

Will Julian Alvarez join Arsenal or Chelsea?

It still feels unlikely that either Premier League club will get their man.

Alvarez reportedly has an agreement with Barcelona and is pushing to leave Atletico, making a move to Camp Nou his clear priority.

That gives both Arsenal and Chelsea a major problem because even a huge financial package may not be enough to convince him to choose England.

Arsenal appear to have been working on the deal for longer and could be better positioned if Barcelona fail to reach Atletico's valuation.

Chelsea, meanwhile, could potentially use Jackson as part of the wider equation. However, there is still a huge difference between signing a replacement and persuading Atletico to sell their star striker.

At £128 million, Alvarez would also represent an extraordinary financial commitment at this stage of the window. For either club, spending that much on a player who would rather move elsewhere would make little sense.

But with Chelsea now in the picture and Arsenal still pushing hard, the saga is certainly not over just yet.