Julian Alvarez is the most talked-about striker on the planet right now. He’s just fired Argentina into the World Cup semi-finals and final with a stunning extra-time golazo against Switzerland and top performance aginist England. And back in Europe, the fight for his signature is getting fierce.
Arsenal and Liverpool both want him. But according to Football Insider, the Gunners are well ahead of the Reds in the race. So what’s going on — and can Liverpool even catch up?
Why Arsenal Hold the Upper Hand
Arsenal’s interest in Alvarez isn’t new. TEAMtalk reported back in January 2026 that the club had opened talks with the striker’s agents. Sporting director Andrea Berta and manager Mikel Arteta are both driving the push. That’s significant — Berta actually signed Alvarez for Atletico Madrid before moving to north London.
The Gunners won the Premier League last season for the first time in 22 years. They also reached the Champions League final. Now they want to build on that momentum.
Football365 reported on July 13 that Arsenal had been given the green light by Atletico to pursue a deal. The Independent added that the club is pushing to get it wrapped up quickly, ideally before pre-season.
Here’s what works in Arsenal’s favour:
- A long-standing relationship with Alvarez’s representatives
- Berta’s personal connection to the player from their Atletico days
- A willingness to move fast and pay big
- Premier League title-winning credibility under Arteta
Liverpool, by contrast, are still figuring out life after Mohamed Salah. The Egyptian icon left Anfield on a free transfer on July 1, ending a nine-year spell as the club’s all-time leading scorer with 257 goals. That’s a massive hole to fill.
Football Insider describes Liverpool as “interested” in Alvarez but says they currently have little chance of completing the deal. Arsenal’s early groundwork has made it tough for the Reds to compete.
The Barcelona Factor
There’s a catch, though. Alvarez wants Barcelona.
He said as much after Argentina’s World Cup win over Austria in June. His words were blunt: “I spoke with the people at Atletico, and I believe the best thing for everyone involved is for me to leave. I want to fulfill my dream.”
That dream is widely understood to be a move to Camp Nou. Fabrizio Romano reported that Alvarez has agreed personal terms with Barcelona. But agreeing with the player and agreeing with Atletico are very different things.
Atletico have rejected bids from both Real Madrid (€150m) and Barcelona (€100m). They keep pointing to Alvarez’s €500m release clause. Forbes reported that the club’s final demand to Barcelona stands at €150m upfront — no installments, no player swaps.
Can Barcelona afford that? It’s a real question. And that’s exactly where Arsenal could step in.
If Atletico refuse to sell to a La Liga rival — which they’ve done before — the Gunners become the most likely destination. Sky Sports confirmed Arsenal’s interest and noted that the club would be well-positioned if Atletico decide to deal outside Spain.
Where Does This Leave Liverpool?
In short: on the outside looking in.
Journalist Pete O’Rourke told Live4Liverpool that he doesn’t see Alvarez as a top target for the Reds this summer. Liverpool already signed Alexander Isak for £125m last September, and their attacking priorities likely sit elsewhere.
That doesn’t mean Liverpool won’t try. Salah’s departure changes the landscape. The club needs star quality. But right now, they’re simply not as far along in discussions as Arsenal.
The saga is far from over. Alvarez is still at the World Cup with Argentina, who face England in the semi-finals this week. No deal is done. No fee is agreed. Atletico remain stubborn.
But if you’re placing bets on which English club lands Alvarez? Arsenal are the clear frontrunners.
