Overview
- Reports on Oct. 12–13 said Álvarez ended his long relationship with agent Fernando Hidalgo and has been linked to new representatives including Javier Pastore and Pablo Barquero.
- Spanish outlet Sport has reported Atlético’s internal valuation has fallen to about €120m after an indifferent start to the season, down from earlier figures near €200m.
- Arsenal are described in multiple reports as the new frontrunner and are said to be preparing a January approach that could include player‑plus‑cash proposals involving names such as Viktor Gyökeres, Noni Madueke or Ethan Nwaneri.
- Atlético retains leverage because Álvarez is under contract until 2030 and the club still points to a €500m release clause, even though past reporting suggested they had privately considered lower offers.
- Diego Simeone has publicly praised Álvarez’s recent reintegration and attitude at Atlético, and any transfer outcome will hinge on negotiation dynamics, the new agent’s strategy and whether clubs can bridge the valuation gap in January.