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Arsenal’s pursuit of Julian Alvarez could be heading into a decisive final week, with Atletico Madrid reportedly willing to consider a massive offer from the Premier League champions for the Argentina international.

The Gunners have maintained contact over Alvarez while looking for another elite attacking addition, but the financial demands are enormous.

Atletico are also determined not to strengthen domestic rivals Barcelona, potentially leaving Arsenal as one of the few realistic destinations if the striker decides he wants to leave Madrid.

Atletico would consider €150m Arsenal offer

Julian Alvarez celebrates scoring for Atletico Madrid against Barcelona (Photo by Aitor Alcalde/Getty Images)

According to The Athletic, a source close to Atletico Madrid’s leadership believes the Spanish club could consider selling Alvarez if Arsenal submit an offer worth around €150m.

Arsenal held discussions with both Atletico and the player’s representatives last week, but they are still waiting for clear encouragement from Alvarez’s camp before committing themselves to such an expensive operation.

Atletico’s stance on Barcelona is considerably stronger. They do not want to sell their star forward to a direct La Liga rival, even though Barcelona have been Alvarez’s preferred destination for much of the summer.

However, the situation may now be changing. The Guardian reported that Alvarez is now considering Arsenal following a hostile reception from sections of the Atletico support during Sunday’s 2-2 draw with Villarreal.

The report adds that Arsenal have the financial strength to complete a deal that Barcelona may struggle to afford.

Gunners are waiting for approval from Alvarez

Julian Alvarez of Atletico de Madrid (Photo by Angel Martinez/Getty Images)

The biggest obstacle for Arsenal may not actually be the €150m valuation, it is convincing Alvarez that North London is where he wants to be.

Spending that amount on a player who still dreams of joining Barcelona would be a major risk.

Arsenal need complete commitment before making what would be one of the biggest transfers in Premier League history.

From a football perspective, however, Alvarez would be an outstanding addition.

His pressing, movement, finishing and ability to operate as either a striker or deeper attacker would give Mikel Arteta enormous flexibility.

The changing atmosphere at Atletico could also work in Arsenal’s favour. If Alvarez now believes his relationship with the club and supporters has become difficult, the Gunners suddenly have a genuine opening.

Not for sale: Arsenal told they have no chance of signing 21-year-old attacking sensation

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