With just two weeks left in the transfer window, Arsenal are yet to land their marquee attacking signing — but that could be about to change. The Gunners are reportedly ready to show fresh intent as they push to defend their Premier League crown in 2026/27.

Alvarez Emerges as Priority Target

According to The Athletic, Arsenal have identified Atletico Madrid forward Julian Alvarez as a long-term target, following the Argentine’s earlier admission that he’s open to a new challenge away from the Spanish capital. Barcelona have also been credited with interest, but Atletico boss Diego Simeone insists he expects Alvarez to stay put next season. Juventus winger Kenan Yildiz has also been floated as an alternative option for the Gunners.

Transfermarkt currently values Alvarez at £103 million, with the striker tied to Los Rojiblancos until 2030 — meaning any move would likely require a significant outlay from Arsenal or a future window approach.

Simeone Leaves Door Open for Overseas Exit

Despite his public stance, Simeone reportedly wouldn’t stand in Alvarez’s way if a move to a club outside Spain materialised, particularly if the forward struggles to fully commit to Atletico’s project. A sale could also hand the Argentine boss funds to reshape his squad, keeping Alvarez’s long-term future firmly unresolved.

Why Alvarez Makes Sense for Arsenal

Alvarez’s proven goal-scoring instincts, tactical versatility and prior Premier League experience with Manchester City make him an obvious fit for Mikel Arteta’s system. Whether Arsenal move for him this summer or wait until a future window remains to be seen — but the 26-year-old is firmly on their radar.