Arsenal made a proposal of over €100 million to initiate negotiations for Atletico Madrid striker Julian Alvarez. The Gunners also offered a player to sweeten the deal.
Arsenal are among the teams in the queue to sign Alvarez, who is expected to be on the move this summer.
The North Londoners are already trying to bolster their squad ahead of next season, and Alvarez would be a replacement for Gabriel Jesus.
Jesus should leave the Emirates Stadium after failing to shrug off the injuries that have plagued his past two campaigns.
The 26-year-old Argentine had a good 2025/26 season, bagging 20 goals and nine assists in 49 appearances across all competitions.
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