Arsenal are preparing to move aggressively for Argentina's Julian Alvarez in the final week of the summer window, provided they get a positive signal from the Atletico Madrid striker or the Spanish club about completing the deal.
Sources have told ESPN that Alvarez is Arsenal's primary attacking target. The club are waiting for a shift in Atletico's stance, after the striker's desire to leave ran into the club's insistence on keeping him and their refusal to sell to a direct La Liga rival.
One major obstacle stands in Arsenal's way: Alvarez wants Barcelona. Sources in Spain say the Argentine would rather stay in La Liga than head back to the Premier League.
Atletico, for their part, are holding firm on refusing to sell to Barcelona. That has cracked the door open for Arsenal to enter the race as the alternative, with Mikel Arteta keen to strengthen his attack before the window shuts.
Estimates suggest Arsenal are ready to break the record fee they paid West Ham for Declan Rice in 2023, which stood at 105 million pounds. Atletico, meanwhile, may demand around 150 million euros to sanction Alvarez's exit.
All of this comes amid rising tension between Alvarez and the Atletico faithful. Fans jeered him loudly during the 2-2 draw with Villarreal, both when his name was read out before kick-off and when he came on as a substitute in the 66th minute.
At full-time, Alvarez walked off rather than joining his team-mates to greet the supporters. The moment sparked fresh controversy over his future, before Diego Simeone revealed that the board had decided to keep the player away from the stands.
Officials at the club had told him the decision was for Alvarez not to be near the stands and the fans, Simeone explained, adding that they had chosen to keep him away, isolate him from the rest of the team and send him straight to the dressing room.
The positions of Atletico and Alvarez remain the decisive factor in this deal. Arsenal are watching closely, ready to table a huge offer the moment a signal opens the door to talks.