Arsenal overtake Barcelona in Julian Alvarez race as stunning price-drop revealed

Arsenal has reportedly overtaken Barcelona in the race to sign Atletico Madrid forward Julian Alvarez ahead of the January transfer window. Alvarez has reportedly completed a U-turn regarding his future and parted ways with his agent, Fernando Hidalgo, after frustrating negotiations with Barcelona. Additionally, reports indicate that Atletico Madrid's asking price for a permanent transfer has dropped significantly from €200 million down to €120 million (£101 million).

Arsenal is reportedly preparing a fresh January bid and could potentially include players such as Viktor Gyokeres, Noni Madueke, or Ethan Nwaneri in a player-plus-cash deal. Alvarez previously favored a move to Barcelona, who had a €100 million bid rejected over the summer alongside a €150 million offer from Real Madrid. However, writer James Holland expresses skepticism over whether Atletico Madrid would genuinely accept the reduced £101 million valuation.