Arsenal ‘finalising’ Julian Alvarez deal as first summer buy, with Viktor Gyokeres replaced already: report

London – Arsenal are reportedly on the brink of sealing a club-record swoop for Atlético Madrid forward Julian Alvarez, a move that could see the Gunners pivot away from current No 9 Viktor Gyokeres after less than a season in north London.

According to TEAMtalk, which cites “strong reports in the Spanish media”, the Premier League title hopefuls are “already close to finalising the terms” that would bring the World-Cup-winning Argentine back to English football. The development comes only days after Arsenal’s 2-1 Carabao Cup final defeat, a result that intensified scrutiny on both ends of the pitch and accelerated planning for the summer window.

Gyokeres, signed last summer on the recommendation of director Andrea Berta, has contributed 16 goals in 42 games but has struggled to provide the target-man outlet Mikel Arteta demands when the side opts for direct play. Kai Havertz has instead emerged as the more reliable focal point, leaving the 27-year-old Swede’s long-term role in doubt.

Alvarez, valued by Transfermarkt at €90 million, is nominally a centre-forward but stands only 5ft 8in. Sources indicate Arteta may deploy the 25-year-old on the left flank, where the manager is weighing a stylistic shift away from traditional touchline wingers. Full-back Piero Hincapié’s anticipated arrival would supply the width, allowing Alvarez to drift inside and combine with the midfield.

Barcelona have also registered interest in Alvarez as they seek a long-term successor to Robert Lewandowski, yet Arsenal’s financial muscle and guaranteed project role are understood to give the Londoners an edge over the cash-strapped Catalan giants.

While personal terms are said to be largely agreed, FourFourTwo stresses that no transfer is yet complete. Technical director Edu and Berta are still mapping out a wider overhaul that is also expected to address midfield and right-back reinforcements. Furthermore, the potential departure of either Gabriel Martinelli or Leandro Trossard could free both funds and space in the attacking unit.

Arsenal return to FA Cup duty after the international break with a fifth-round tie against Southampton, but off-field negotiations look set to dominate the narrative as the club chase what would be a statement capture ahead of 2025-26.