Arsenal are weighing up a potential swap deal as they look to strengthen their attacking options ahead of the summer transfer window closing.
The Gunners have identified Julian Alvarez as a priority target and are exploring creative ways to fund a move for the Atletico Madrid forward.
Viktor Gyokeres has emerged as a potential makeweight in any deal, with Arsenal considering whether to include the Swedish striker in negotiations.
Gyokeres joined Arsenal in the summer of 2025 after his impressive performances at Sporting CP caught the attention of clubs across Europe.
The forward scored prolifically in the Portuguese top flight before making the move to the Emirates Stadium, but his debut Premier League campaign has had mixed results.
Arsenal’s interest in Julian Alvarez reflects the club’s ambition to compete at the very highest level domestically and in the Champions League.
The Argentine forward has been one of Atletico Madrid’s standout performers since making his move from Manchester City, and his versatility makes him an attractive option.
Atletico Madrid would be unlikely to sanction a straightforward sale without significant financial compensation, which is why the Gunners are exploring alternative structures.
A swap arrangement involving Gyokeres could reduce the cash element of any deal, though Atletico would need to show genuine interest in the Swedish international.
Arsenal manager Mikel Arteta has consistently stressed his desire to add quality depth and creativity to his squad as the club continues to push for major honours.
The north London side are expected to be active in the transfer market throughout the summer as they aim to close the gap on the Premier League’s elite.
Any deal involving two high-profile forwards would rank among the most significant pieces of business in European football this window.
