Julian Alvarez to Arsenal - Contact initiated, transfer funds, Edu and Arteta’s stance

Arsenal are eyeing up Manchester City's Julian Alvarez as a potential new striker. The Mirror reports that the London club have set their sights on the 24-year-old forward, with manager Mikel Arteta a big fan.

It's reported that the club has already reached out to the player's representatives, as per HITC. However, no official bid has been made to City yet, and all parties are keeping a close watch on the situation.

Despite Arsenal reportedly initiating talks with Alvarez's team, City have turned down initial enquiries to date from Atletico Madrid, PSG, Chelsea and the Saudi Pro League for the Argentinian. In addition to targeting Alvarez, Arsenal have already secured the signing of new defender Riccardo Calafiori and confirmed the permanent stay of keeper David Raya after a successful loan.

However, the club is still on the hunt for a midfielder and a No.9 like Alvarez. He could provide a solution up top, especially given Kai Havertz's deployment as a false 9 in the 2023/24 season and ex-City hitman Gabriel Jesus falling out of favour in the frontline.

What Alvarez has said on future plans

Alvarez has hinted at some unrest following a season of playing second fiddle to City's leading striker, Erling Haaland. The 24-year-old transferred from River Plate in 2022 and despite having a string of successful appearances with City, he has signalled he's mulling over his options, as per Football London.

Alvarez said: "Last season, I was one of the players with the most minutes at City. But... in the end, you don't like being left out of important matches; you want to contribute.

"I'll take my time to think about what I want for myself. We will see after the Games. First, if I can, I will take a few days off. Then we will decide."

Having won the Copa America earlier this summer, Alvarez is heading home from the Olympic Games in Paris after a quarter-final defeat to France. So, is now the time for the young star to decide on his future?

Guardiola fall-out

Following Alvarez's mention of dissatisfaction at City, manager Pep Guardiola has quickly dispelled any rumours of upset within his league-winning squad. The City coach has been known for his honesty on his team morale, and continues to reiterate his stance of letting unhappy players leave.

Speaking on Alvarez's future at the Etihad after City's 4-2 win over Chelsea in pre-season, Guardiola said: "No news. I don't have anything to say. He will come back I count on him, but he said in the news that decisions will be made all together. Now he has to rest and when he feels ready to come back he will come back.

"I'm sure when he comes back I'll hug and congratulate him for the Copa America, for the Olympics and we will start to work together. This is the reality. What happens in the meantime, I have a thousand million things to think about the team.

"Next week we play for the first trophy of the season [the Community Shield against Manchester United at Wembley]. Two weeks we play at Stamford Bridge again, that's my only concern."

Funding a transfer for Alvarez

Arsenal have already spent big this summer, with £42million splashed out on defender Calafiori and a further £27m to confirm Raya's switch from Brentford - meaning they've spent close to £70m altogether on two big stars.

The north London club hadn't planned on making more significant deals. But Emile Smith Rowe's transfer to Fulham and Marseille's interest in Eddie Nketiah may provide the funding for the signing of Alvarez if he becomes available.

Fulham smashed their own transfer record when acquiring Smith Rowe, in a deal that could rise to £34m with add-ons, and an initial fee of £27m heading to Arsenal. Marseille's interest in Nketiah has cooled somewhat after it was reported Youssoufa Moukoko is headed to the French club from Dortmund in a loan with option to buy deal, but he is still expected to be shifted on before the window shuts.

Football London reported that Crystal Palace have also been linked with a move for Nketiah and could make a deal happen if Eberechi Eze or Jean-Philippe Mateta decide to follow Michael Olise in leaving the club. If the 25-year-old does decide to follow in Smith Rowe's footsteps and quit Arsenal, the funds created by these departures could be used in the pursuit of Alvarez.

Alvarez's transfer worth and City's asking price

This begs the question of how much the City star is actually worth in today's market - both by his club and by the overall transfer window.

City are looking to bag £70m initially for Alvarez's signature and even more in add-ons to sell the striker - meaning Arsenal could end up having to hand off near to £80m in all.

While City paid just £18m for Alvarez in 2022, the striker has gone on to win the World Cup with Argentina as well as the Copa America for the second time. He has also secured Champions League title, and two Premier League titles - the trophy that Arteta is longing to achieve for Arsenal.

Adding a proven league winner and top goalscorer to his side in Alvarez - especially from a direct rival - could prove to be the answer to Arsenal's questions when it comes to finally securing the title. However, City won't be keen to strengthen their closest competitors.

Who else is interested in Alvarez?

Arsenal are not the only club vying for Alvarez's signature - the striker is also on the radar of Spanish clubs and Premier League rivals alike.

Atletico Madrid have shown interest in acquiring Alvarez, but City's asking price is proving too steep for the Spanish side. Paris Saint-Germain and Chelsea have also expressed interest in the 24-year-old, meaning Arteta would need to fend off both the French champions and London rivals Chelsea to secure a new striker.

However, Arteta could be looking to go all out in a new quest to winning the league, and Alvarez may well be part of these plans.

Edu and Arteta's stance

Arsenal's sporting director Edu is reportedly a big fan of Alvarez, according to HITC, as well as current boss Arteta.

Both Arteta and Edu would be keen to strike a deal for the striker if the finances and timing align for both clubs. However, at this stage, only preliminary discussions with the player's representatives have taken place, with no official bid submitted to City.

Nonetheless, the duo are keeping a close eye on Alvarez's situation and could see the striker as the solution to their forward concerns, should he become available.