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Arsenal transfer news: Mikel Arteta eyeing 206million duo as Julian Alvarez decision made

Arsenal boss Mikel Arteta is not done yet in the transfer window as Atletico Madrid make a decision regarding Julian Alvarez

[Julian Alvarez of Atletico Madrid controls the ball against Gabriel of Arsenal during the UEFA Champions League 2025/26 Semi Final Second Leg match between Arsenal FC and Atletico de Madrid at Arsenal Stadium on May 5, 2026 in London, England. ]

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Julian Alvarez remains a top priority for Arsenal(Image: Getty )

Arsenal are reportedly eyeing two superstar players as they look to end the summer transfer window on a high note. The Gunners sent out a message to the rest of the Premier League by beating Manchester City 3-0 in the Community Shield at the weekend, clinching their first trophy of the 2026/27 campaign.

They are undoubtedly the favourites to defend their league title this term thanks to some impressive additions to an already star-studded squad this summer. Piero Hincapie, Illan Meslier, Christos Tzolis and Bruno Guimaraes have been signed for just shy of 150million.

But manager Mikel Arteta is still keen to sign a versatile defender and a big-name forward before the window shuts on September 1. In order to fulfil those transfer aims, several players are also expected to leave in the coming fortnight.

Gabriel Martinelli, Ethan Nwaneri, Gabriel Jesus and Myles Lewis-Skelly have all been mentioned as potential departures. Now, Mirror Football takes a look at two of the most recent transfer stories involving the north Londoners ahead of Friday's Premier League opener against Coventry City.

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Arsenals plan for 206m duo

Arsenal are reportedly waiting until late in the window to see if it would be possible to sign one of their top targets. There has been plenty of noise surrounding Artetas pursuit of a world class forward this summer, having initially wanted to sign Morgan Rogers and then Vinicius Junior but ultimately failing in both efforts.

But The Athletic reports that while there has been a notable focus on the left wing, there is some flexibility around the position the Gunners next big signing will play, depending on which of their key forward targets becomes available.

[Kenan Yildiz of Juventus]

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Arsenal have been linked with Kenan Yildiz this summer(Image: DeFodi via Getty Images)

Their two main long-term targets still available, albeit on hefty transfer fees, are Kenan Yildiz of Juventus and Julian Alvarez of Atletico Madrid. The former recently signed a contract extension and is reportedly priced at around 86m, while Alvarez could cost north of 120m.

Having signed Tzolis already, Arsenal are not rushing to bring in another forward. Instead, they are said to be planning to wait until late in the window to see if the market renders one of the aforementioned superstars available.

Atleticos Julian Alvarez decision

Atletico manager Diego Simeone announced that Alvarez will not feature in his sides La Liga opener against Malaga on Wednesday night due to a lack of fitness. The 26-year-old has repeatedly been linked with an exit this summer, with Barcelona and Arsenal being the two most prominent clubs interested in his signature.

[Arsenal transfer target Julian Alvarez returned to Atletico Madrid last week but will not play against Malaga on Wednesday]

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Alvarez returned to Atletico Madrid last week but will not play against Malaga on Wednesday(Image: (Photo By Dennis Agyeman/Europa Press via Getty Images))

When asked if Alvarez could feature, via Marca, Simeone said: "I still think the same way. I take care of the sporting side. We've been talking as we always do. From a sporting perspective, we need more training sessions with him so he can improve. He's one of the best attacking players... if not the best."

Alvarez was granted an extended break after making it to the final of the World Cup with Argentina. Reporters throughout the recent press conference continued to quiz Simeone about Alvarezs future and Atleticos legal dispute against Barcelona regarding the player. However, the Argentine boss was clear that his star striker is not for sale.

He said: "I think if the club owner spoke so bluntly about what he said, that's all there is to it, it's more than clear. This is like when you go to court... there's nothing more to it. We take care of the person and the player, we understand that he's not in condition to play in this match."

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