Mansion Sports – Chelsea are reportedly in the leading position to win the transfer race for Atletico Madrid forward Julian Alvarez.

The Argentine national team striker and World Cup winner left English football after parting ways with Manchester City in 2024.

Speculation regarding his return to a familiar environment has resurfaced, with Stamford Bridge reported to be a potential next destination for the South American player.

Chelsea are considered to have a strong chance of securing Alvarez’s signature, in line with concrete steps that have begun to be taken by the West London club in the transfer market.

Alvarez Leaves Manchester City with Treble-Winning Status

Reports from ESPN state that Chelsea are “moving forward in talks” to sign Alvarez.

Over the past few transfer windows, The Blues have invested heavily to strengthen their attacking line, including the arrivals of Joao Pedro and Liam Delap in the summer transfer window of 2025.

The trend of major spending in West London appears set to continue, with serious efforts being made to bring Alvarez back to the Premier League.

During his time at Manchester City, he won two domestic league titles and was part of the historic squad that secured the treble in 2023.

While playing for City, Alvarez scored 36 goals in 103 appearances, although he did not always receive regular opportunities as a starter.

His move to Spain was valued at up to 95 million euros, and Atletico Madrid are expected to only consider a sale if there is an offer in nine figures.

Arsenal Previously Linked with Julian Alvarez

Chelsea are reported to be willing to allocate funds amounting to 100 million euros to complete this transfer deal.

Head coach Liam Rosenior did not receive transfer funds at the end of the winter transfer window, after he took over the managerial position from the dismissed Enzo Maresca.

This situation is expected to result in fresh funds becoming available in the upcoming summer, particularly if Chelsea once again secure qualification for the Champions League, which would strengthen the club’s financial position. Club management are aware of the importance of moving more quickly in responding to interest in Alvarez.

The Argentine international, who has scored 40 goals in 88 matches for Atletico Madrid, has also attracted interest from Arsenal. The Gunners are pursuing the Premier League title in the 2026 season.

However, Mikel Arteta is currently said to be prioritizing midfield reinforcements at the Emirates Stadium, thereby opening the door for Chelsea to progress further in the pursuit of Alvarez.

Transfer Negotiations: Chelsea Meet with Alvarez’s Agent

It has been stated that a meeting has taken place between Chelsea and representatives of Alvarez. The player’s agent was even reported to have flown to England to watch one of Chelsea’s matches in person, and the discussions are said to have progressed positively.

ESPN journalist Jorge Baravalle stated that although there has been extensive discussion linking Alvarez with Barcelona and Arsenal, Chelsea are the club that has slowly but surely shown the most significant progress. He emphasized that at present, the most advanced contact regarding Alvarez’s transfer comes from Chelsea.

Atletico Madrid are said to be reluctant to conduct a transaction with their La Liga rivals Barcelona, who are known to be facing financial difficulties.

On the other hand, Chelsea and Arsenal are considered more capable of meeting the financial demands required to finalize a deal.

Alvarez remains under contract until 2023, meaning Atletico are not under pressure to sell or accept lower terms.

The club are also reluctant to release the player, especially as Alvarez himself has shown no signs of wanting to force a move.

Responding to the speculation that has continued throughout 2026, Alvarez stated that he is not disturbed by the rumors.

He claimed to remain focused on the ongoing season with Atletico Madrid, seeking to ignore the noise of social media, and concentrating on personal development and ambitions to achieve victories.

Alvarez in 2026: Trophy Pursuit with Atletico and Argentina

Atletico Madrid are currently striving to secure a top-three position in La Liga. They have also progressed to the semifinal stage of the Copa del Rey and are set to face Barcelona, while preparing to contest the Champions League knockout phase play-off against Club Brugge.

After club commitments conclude, Alvarez will shift his focus to the effort to defend the World Cup title with the Argentine national team, once again partnering Lionel Messi and his teammates.