Arsenal are reportedly in the market for a new striker before the summer transfer window closes, with Julian Alvarez remaining the Gunners’ top target as Atletico Madrid’s stance emerges
The summer transfer window is quickly approaching Deadline Day – and Arsenal find themselves right in the thick of it all with sporting director Andrea Berta is battling against the clock to wrap up the Gunners’ outstanding business.
And despite a lot of buisness, they remain without the elite striker Mikel Arteta has consistently demanded he requires, although they are declining to give up their chase for £128m-valued Julian Alvarez.
Meanwhile, the circumstances surrounding Gabriel Martinelli add extra pressure to the club’s closing days of transfer activity. The Brazilian winger has slipped down the pecking order at Arsenal at the beginning of the 2026/27 season, and an exit now appears more probable.
Arsenal receive Julian Alvarez boost
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Arsenal’s pursuit of Alvarez has been given a lift following Atletico Madrid’s recent statement reiterating their refusal to sell him to Barcelona this summer, reports Football London.
Atleti have firmly stated they will not let their star player join a La Liga competitor under any circumstances. Atletico’s board continues to support the club management’s position, which could potentially benefit the Gunners, who have waited until the end of the summer window to see whether Alvarez will opt to stay in the Spanish capital or relocate to north London after his dream move to Barca fell through.
The statement read: “The members of Atletico de Madrid’s board of directors have unanimously expressed their absolute support for the club’s decision to not negotiate the transfer of Julian Alvarez to FC Barcelona.
“The members of the board of directors acknowledge that Atletico de Madrid is open to standard transfer market negotiations when conducted in a professional, ethical and respectful manner.
“We fully stand behind the club’s previously communicated position that FC Barcelona failed to meet these requirements and, as a result, there will not be any negotiation and there is zero consideration of an Alvarez transfer to Barcelona.
“Atletico de Madrid trust that our player will understand the decision and will remain focused on helping the club achieve its goals, just as he has done during the two seasons he has been defending our colours.”
Gabriel Martinelli departure opens door
Arsenal are understood to be in pole position to secure the perfect replacement for Martinelli due to Lyon’s ongoing financial struggles. Arteta appears set to find himself short of alternatives on the left flank despite Tzolis’ arrival, whose capture was always designed to support rather than substitute a marquee signing in that area.
Nevertheless, after failing to land preferred options Morgan Rogers and Vinicius Junior, Lyon talent Malick Fofana has surfaced as a possible target for the Gunners. The Belgian international has suddenly become much more achievable following the French side’s inability to qualify for Champions League football, according to FourFourTwo.
Lyon were knocked out of their Champions League play-off second leg against Fenerbahce this week, losing out on a minimum of £15.7m in qualification revenue, which will hardly alleviate their current financial strains.
The Ligue 1 club are reportedly required to generate £86m before 30 June 2027 or risk penalties from the appropriate financial and regulatory bodies.
As a result, Lyon’s unstable position could compel them to put Fofana up for sale at significantly below his market worth in an attempt to gather the required funds and evade sanctions.