Arsenal know they have to come up with more than money if they are to secure Julián Álvarez, after all, they are in the race together with Barcelona and cash-strapped Paris Saint-Germain.

All three chasing the Atlético Madrid striker have won their respective leagues this season, Arsenal have won the Premier League, Barcelona have won La Liga and Paris Saint-Germain have won Ligue 1.

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The bosses of Arsenal have engaged their captain Martin Ødegaard in what is described as the biggest beauty contest of the summer. Suspect the idea is that Julián Álvarez is a good teammate with Alexander Sørloth, who in turn is a good teammate with Martin Ødegaard on the Norwegian national team is one reason, but Radio Marca, which first came up with the story, does not say anything about that.

Transfermarkt believes the value of the Argentine world champion is 90 million euros, but the signals from Atlético Madrid are that if they have to sell, it will be for at least 120 million euros.

Julián Álvarez has become the big name on the transfer market at Atlético Madrid. At the Metropolitano, they are starting to accept that the Argentine striker will not continue at the club next season – even though Atlético had put a large part of their project around him.

FC Barcelona and PSG have been following his situation for a while. But now Arsenal have come into the game strong. The new Premier League champion and Champions League finalist wants to send a new statement of authority, and they see the South American as the ideal striker to lift the team further under Mikel Arteta.

Read on English clubs: Putting 350 million on the table to bring Alexander Sørloth to the Premier League

Atlético lose faith in their star player

The situation surrounding Julián Álvarez is a hard blow for Atlético. The red and white club bet on the Argentine with a clear intention: to make him one of the main references of the project. A player who could lead the attack for several seasons and mark a new era at the Metropolitano.

His profile was a perfect fit for that idea. Julián is a modern striker – mobile, intense, and with a tremendous ability to influence the game in different attacking areas. He can play as a number nine, drop down the edges, connect between the lines and press with an energy that has always suited Atlético’s demands.

Therefore, the sporting management had considered offering him a significant contract renewal. The aim was to strengthen his status, improve conditions and show him that the club wanted to build the team around him.

But the situation has changed. The player seems determined to listen to offers, and the optimism at the Metropolitano is no longer the same as it was a few months ago. Atlético know that when clubs like Barcelona, PSG and Arsenal appear at the same time, it becomes very complicated to keep a star.

The inner feeling is characterized by resignation. Unless there is an unexpected turnaround, Julián will leave the club in the summer – and Atlético will have to undergo a significant offensive rebuild.

Barcelona and PSG were already in the game

FC Barcelona stands out as one of the destinations that attracts the Argentine the most. The opportunity to stay in La Liga, play in an offensive-oriented team and take a leading role at Camp Nou is very attractive for a player with his qualities.

Barcelona are looking for a striker at the absolute top level, and Julián meets all the requirements. He is not just a goalscorer, but an attacker who can participate in the combination game, move intelligently, and interact with talented wingers and attacking midfielders.

The problem, as always, lies in the economy. Atlético will not facilitate a departure – especially not to a direct rival. A transfer would require a very high investment and a complicated financial structure for Barcelona to compete.

This is where PSG comes in with their financial advantage. The Parisian club has had Julián on their radar for a while, and Luis Enrique particularly values his versatility, pressing game and ability to adapt to a dynamic attack.

PSG can offer him a big contract, a powerful project and the opportunity to fight for all titles. If Barcelona represents the sporting and emotional desire, PSG represents the financial strength and security of a transfer that is far more manageable for the selling club.

Arsenal throw themselves in to break the bidding round

The big news is Arsenal. Mikel Arteta’s team has decided to participate fully in the race, and their candidacy changes the whole situation.

The London club is coming off a spectacular season – with the Premier League title and a Champions League final that has definitely cemented their project among the most potent in Europe. Now they want to sign like a true big club, and Julián Álvarez is one of the names that excites the most at the Emirates.

Arteta is looking for an attacker who can add more dimensions to the team. Julián can play as a striker, behind another striker – or even operate from wider areas. His tactical intelligence makes him an ideal piece in a team based on movement, high pressure and constant coverage of space.

In addition, Arsenal has the financial muscle to compete with PSG and surpass Barcelona. If they decide to bet everything, Atlético could be faced with an offer that is practically impossible to refuse.

For Julián, it would also make sense to return to the Premier League. He knows the league from his time at Manchester City and knows that his style can shine in a context of maximum demand.

Atlético prepare for a complicated summer

Barcelona, PSG and Arsenal are in the bidding round, and the Red and Whites seem to have accepted that their star days are numbered. The only question is who will win a battle that promises to involve huge sums of money.

Atlético will have to start planning for a life without their Argentine goal guarantor anyway – and it could be a very long summer at the Metropolitano.