Хулиан Альваресийг тойрсон шилжилт хөдөлгөөний маргаан үргэлжилсээр байна

“It’s a s***show with this kid.”

That is how one senior Atletico Madrid source described the situation surrounding Julian Alvarez this summer.

Although deadline day ended with Alvarez staying at Atletico, the fallout from the window’s most bitter transfer saga is only just settling — and the story is far from over.

Here, informed by conversations with over a dozen sources (who each asked to speak anonymously to protect relationships), The Athletic explains how Alvarez’s “dream move” to Barcelona failed to materialise, with the two La Liga clubs instead spiralling into acrimony and accusation.

Atletico accused Barca of “disgusting behaviour” as the Spanish league champions pursued their striker — and reported them to the Spanish FA.

Barcelona, meanwhile, maintained they had acted professionally throughout, and said “a red line” had been crossed in relations, responding to those comments.

Somewhere in the middle were Arsenal, who explored making an offer for Alvarez while the situation was reaching its most arresting peak, with the 26-year-old striker roundly jeered by his own supporters at Atletico’s ground.

This is how the whole messy case played out — and what we can expect next.

Speaking this week in the build-up to transfer deadline day on Tuesday, sources within the Atletico hierarchy told The Athletic that, even back in the spring, they were expecting Alvarez’s future to become a hot topic this summer.

Signs of something big brewing were there to see last year.

In July 2025, Alvarez’s long-time agent Fernando Hidalgo told Spanish TV show El Chiringuito that his client grew up a Barca fan because of his Argentina team-mate Lionel Messi, and openly speculated about him ending up at the Camp Nou.

Alvarez himself told French outlet L’Equipe the following November that a decision over his future would need to be made this summer. In mid-March, he made a rare mixed zone appearance after Atletico’s 5-2 Champions League last-16 first-leg win over Tottenham Hotspur and, when asked about a potential move to Barca, replied: “I couldn’t tell you. Maybe yes, maybe no, you never know.”

Such speculation was also fed over the past year by Barca players including Pedri, Pau Cubarsi and Frenkie de Jong publicly saying that Alvarez would be a good signing for their club. The entire Barca dressing room has been following developments closely throughout.

Alvarez joined Atletico in summer 2024 from Manchester City in a deal worth up to €95million (£82m; $110m). In his first season, he scored 29 goals in 57 games and was viewed as a success. His second campaign last term was more up and down, with 10 goals in 15 Champions League games, but just 10 in 33 matches across La Liga and the Copa del Rey.

Sources familiar with Atletico’s dressing room say there were issues in Alvarez’s relationship with coach Diego Simeone, and that the player was not 100 per cent happy with his tactical role in the team.

For these reasons, Atletico were in no way taken by surprise by Alvarez becoming the centre of attention, even before the transfer window opened.

Speaking in the past week, a senior Atletico source said that, well before the summer’s events, Hidalgo and Alvarez were told the club would allow him to leave for a fee of €150million, so long as a deal for him to leave was wrapped up by July 20.

“If those conditions were met — great and goodbye,” is how that same source described the club’s stance.

By the end of the 2025-26 season, Atletico’s board was expecting an offer to come from Barcelona. When a proposal did arrive in late May, they were unimpressed, to say the least. It was a strange situation.

Barcelona said they had made a bid of €100million.

Atletico sources consistently denied having received any offer at all from Barcelona. And Barca sources maintain that Atletico never acknowledged it.

Instead, Atletico’s response, such as it was, came via a series of wild social media posts — in which they described reports of Barca’s offer as “fake news” and pretended they were going to make a bid for Lamine Yamal involving an exchange of Bad Bunny concert tickets “and a bag of sunflower seeds”.

Senior Atletico sources now say they did receive an offer from Barcelona. They said it arrived after news reports of it had already appeared in the media, and that it was structured in six yearly installments. Barca did not respond to a request for comment on the structure of the bid, but sources at both clubs, speaking this week, agreed it was worth €100million.

The offer was considered “a massive joke”, one senior source at Atletico said. Sources at Barca said they considered it a fair starting point in negotiations.

This tense situation continued to simmer into the World Cup. There, Alvarez himself spoke after helping Argentina to a 2-0 Group J win over Austria on June 22. It escalated things.

Alvarez (Argentina’s No 9) challenges Spain and Barcelona defender Pau Cubarsi during the World Cup final on July 19 (Al Bello/Getty Images)

“I don’t think it’s the right time to talk about this, but I can’t hide or pretend either — I try to be an honest person,” he told ESPN in the Dallas Stadium’s mixed zone.

“I’ve spoken honestly to the people at (Atletico). A transfer is the best thing for everyone. I want to fulfil my dream.”

These words were warmly welcomed by Barcelona’s hierarchy. Club president Joan Laporta publicly confirmed a few days later that Barca had bid for Alvarez, while mischievously adding: “A big club does not keep players who do not want to be there.”

Such comments only stoked the anger at Atletico, where many believed Barca had pressured the player into speaking publicly to try and reduce their asking price. They believed the Catalan club could not afford to pay his actual market value. Barca sources always insisted finances would not be a problem.

“Barcelona have disrespected us, they believe they can brush us aside, that we’re weak or stupid,” Atletico chief executive Miguel Angel Gil Marin told news agency EFE.

“They try to make everyone believe they want to do an operation which in reality they cannot do. Last year they did something very similar to Nico Williams and Athletic Club.”

A reply came via Laporta on July 1. He told reporters: “We know the player wants to join Barcelona, even from before he joined Manchester City. We made an offer with the utmost respect. They told us Atletico are not planning to sell him without a replacement lined up. When they do that, we can negotiate. But our offer won’t remain forever.”

On the other side of the Atlantic, Alvarez’s form at the World Cup was not great, although he did score a spectacular extra-time long-range goal to help Argentina progress past Switzerland in the quarter-finals. He then played the full match as the holders battled past England to reach a second consecutive World Cup final.

Some 48 hours before that game, which Argentina lost 1-0 to Spain, Gil Marin spoke to Atletico’s in-house media.

“My view is clear, the club’s stance is clear, and we have made this clear to the player, the agent and the Barca president,” he said.

“The president (Laporta) said their offer to Atletico was not unlimited. Our response is indeed unlimited: we do not want to sell him. We did not accept the offer of €100million, nor will we accept €150million or €200m.”

At the Camp Nou, sources said through the summer that Alvarez remained Barca’s top target — coach Hansi Flick’s preference to bolster their front line.

Barca needed a new centre-forward after Robert Lewandowski was allowed to leave on the expiry of his contract and Ferran Torres — who scored Spain’s winner against Argentina — was sold to Paris Saint-Germain for €50million.

From the start of the summer, Atletico’s hierarchy felt they had a powerful position in any negotiations over Alvarez’s future. His contract runs until 2030, with a release clause of about €500million.

A club who, for years, were wracked by financial issues are also much stronger after regular Champions League revenues under Simeone’s management. The 2017 stadium move from their old crumbling Estadio Vicente Calderon to the modern Metropolitano has helped considerably, too.

In early 2026, American asset management company Apollo Global Management joined an ownership group that now also features Gil Marin, club president Enrique Cerezo, Ares Management and Quantum Pacific Group.

Under Simeone, Atletico have won eight trophies in the past 15 years — including two La Liga titles and two Europa Leagues. They have also reached the Champions League final twice, losing to Real Madrid in 2014 and 2016.

That sets Atletico well ahead of other historically important Spanish clubs such as Valencia, Athletic Club or Sevilla. Yet they are still much smaller than the Clasico duo, Barca and Real Madrid, who both have revenues at least twice Atletico’s, as well as much larger fanbases and much stronger institutional power.

Atletico would like to be taken more seriously as a challenger to the status quo, while both Madrid and Barca enjoy emphasising their superiority whenever they can. An Atletico source said the club wanted their handling of the Alvarez case to serve as a statement of their intentions and ambition.

There was an expectation that Laporta and Barca sporting director Deco would return to Atletico with a new offer for Alvarez.

There was also a strong belief at the Catalan club that Alvarez would not agree to join any other team. Sources familiar with the player’s thinking also confirmed this to The Athletic at various times through the summer.

“He wants to go to Barcelona and only to Barcelona,” one such source said in early July.

As the weeks passed, anger at the situation at Atletico grew. One source at the club described Barcelona’s approach as “blackmail” but also a “ridiculous strategy”. On July 30, Atletico reported Barcelona to the Spanish FA over the pursuit of their player. The Spanish FA has not provided any public update in connection with that since.

On August 10, Alvarez returned to Atletico to start pre-season training, along with team-mates who had also reached the World Cup final. The following morning, photos of the player arriving at the club’s training ground in a car driven by Hidalgo appeared in the media.

There was also frustration among the player’s representatives, with some in the Alvarez camp believing that Atletico were breaking a promise to consider offers for the striker.

Tensions bubbled over again when Gil Marin told news agency EFE on August 21 that he was still angry at Barca’s “disrespect” of Atletico, adding: “We must understand that Julian has not had the best advisors around him.”

“Never ask a liar why they lied,” Hidalgo posted on social media in response. “To explain it, they’d have to lie again.”

Meanwhile, pessimism was growing at Barcelona. Despite this, sources said they would pursue Alvarez’s signing “until the very last second” of the summer window.

Manager Flick saw Alvarez as the ideal figure to lead his frontline. The club only wanted to commit to such a big spend on a player who would significantly improve their squad. Flick accepted the possibility of not signing an alternative, if they missed out on Alvarez.

Like other Atletico players involved in the latter stages of the World Cup, Alvarez sat out Atletico’s La Liga opener at home to Malaga on August 19.

But three days later at the Metropolitano, in a 2-2 draw with Villarreal, the stadium gave its view on the situation. Chants including “F*** Barcelona! F*** Catalonia!” and “Atletico yes, mercenaries no” could be heard around the ground.

Así reaccionó el Metropolitano al regreso de Julián Álvarez. 🔊🔥#LALIGAenDAZN⚽️ pic.twitter.com/KvQctofaSk

— DAZN España (@DAZN_ES) August 23, 2026

Entering as a substitute, Alvarez made little impact on the game. After the final whistle, as his team-mates went to applaud supporters, Alvarez took the club hierarchy’s advice not to join them. Instead, he walked alone with his head bowed down the tunnel, as his own team’s fans whistled and screamed at him.

In the following days, Alvarez did not appear for training. The word from Atletico was that he was not feeling well.

On August 26, less than a week from the transfer deadline, Laporta intervened again, saying via Barca’s in-house media channels that the offer they made earlier in the summer remained in place, adding that he believed Atletico were trying to move him on to a different club, referring to Arsenal.

He insisted Barca had treated Atletico with “respect” and that their interest in Alvarez “followed the standards required”.

Atletico’s next home match is on September 16 against Osasuna in La Liga (Angel Martinez/Getty Images)

Atletico replied with their own statement decrying “a campaign full of lies and half-truths” from Barca’s side, describing themselves as “victims” of the situation.

Some 24 hours later came a more serious and considered statement, which said that all Atletico’s shareholders — including Apollo — had “unanimously expressed” their “absolute support” for the decision not to negotiate with Barca.

At last Thursday’s Champions League league-stage draw, Gil Marin made a rare public appearance to denounce what he claimed was “disgusting behaviour, falsehoods, the lack of ethics, lack of transparency, lack of professionalism” from Barcelona in their pursuit of Alvarez, speaking on Movistar TV.

Laporta did not attend the event in Monaco. Barca vice-president Rafa Yuste, who was there, quickly replied on the same Spanish channel. “Miguel Angel Gil’s words crossed a red line,” he said. “I’m outraged.”

Barca sources also defended their behaviour in private. Their view was that Atletico had never officially responded to their €100million offer earlier in the summer, which was why they had not returned with an improved proposal.

A senior source at Atletico told The Athletic this week that the club considered Barca’s offer to be derisory and unworthy of consideration, while acknowledging that an offer closer to their €150million valuation may have led to a different outcome. Barca sources insist they did not receive any indication of such a position, and that they were always willing to submit a second and improved offer.

While Alvarez’s number one priority through the summer was Barcelona, the prospect of leaving Atletico for another club was raised.

In early June, Real Madrid claimed to have bid €150million for Alvarez. This came a few days after Bernabeu president Florentino Perez said during his re-election campaign that he would bid exactly that sum for a mystery top player if he won the vote. Atletico did not believe Madrid were actually serious with their bid, and reacted with more angry and scornful social media posts.

At various points over recent months, the prospect of Alvarez joining Arsenal appeared more likely. Arsenal manager Mikel Arteta is a long-time admirer, believing Alvarez is one of the few forwards who would really improve their attack.

Early in the summer, the idea of moving for Alvarez was discussed at a high level at the Premier League champions. However, there were doubts right from the beginning about whether he was really open to moving back to England, with family reasons among the factors behind his departure from Manchester City for Atletico two years ago.

Arsenal also put considerable work into targeting Real Madrid’s Vinicius Junior this summer. After it became clear he was going to renew at the Spanish club, new contacts between Arsenal, Atletico and Alvarez’s camp began. The torrid reception Alvarez received during the Villarreal game at the Metropolitano fed renewed optimism at the Emirates.

Alvarez was crucial to Atletico’s victories over Barca in the Champions League quarter-finals and Copa del Rey semi-finals last season (Thomas Coex/ AFP via Getty Images)

Some who know Alvarez and his family also believed that, even though returning to the UK was not ideal for them, the difficulties at Atletico would make them more open to considering a move.

In the final days of the market, multiple sources toldThe Athletic that Arsenal figures had spoken to Alvarez to explain how he could fit into their future plans, including a personal phone call between Arteta and the player.

Some senior figures at Atletico would have seen selling to Arsenal as an acceptable outcome. However, it became clear Alvarez only wanted to leave for Barca, and Arsenal’s interest never solidified into an actual offer.

Sources familiar with Arteta’s thinking say he is not a coach who wants to go above and beyond to persuade a player to sign for Arsenal, preferring to work with those who see moving to the club as a priority.

Another potential option was Alvarez returning to Manchester City, where he won two Premier League titles and the 2022-23 Champions League. Sources say his former side monitored developments to see whether a move would be possible, but did not receive encouragement. City deny they made any approach to Alvarez’s camp.

Alvarez did not travel with Atletico for Saturday’s 3-1 La Liga victory at Sevilla, but he did return to training with Simeone’s squad the following morning. With the transfer window entering its final days, the possibility of a move appeared over.

Atletico did sign a forward on deadline day, with Canada international Jonathan David arriving on loan from Juventus. Sources at the Metropolitano maintained that this was to add depth to the attack, not because anyone was leaving before the window shut.

Tuesday also saw Barcelona present a new attacker, with Gabriel Jesus arriving from Arsenal in a deal worth around €14.5million, including add-ons. The Brazilian told local media that it “all happened very quickly” and was not offended when reporters suggested he was being signed as a “Plan B”.

It remains to be seen whether all the damage done between Alvarez, Atletico and Barcelona over the summer can be repaired.

It is significant that, while many at Atletico were upset with Alvarez’s public comments at the World Cup and his attitude on his return to training, Atletico have not taken any disciplinary action.

Gil Marin said at last week’s Champions League draw, and not for the first time this summer, that he had sympathy for a player and a person who had ended up in a situation not of his own making.

“Julian is not doing well, some people have tried to trick him and confuse him,” he said. “And I am very sorry about that, truly. He’s a great person, great professional, great footballer, who is going through a very, very difficult situation on a personal and professional level.”

Alvarez’s relationship with fellow Argentinian Simeone has been harmed by all that has happened, multiple sources say. Yet the coach said at a press conference last weekend that he would do what he could to “recover” Alvarez for the team.

Atletico’s next home game is not until September 16 against Osasuna in La Liga. Four days later, Real Madrid visit.

Some at Atletico say time can heal everything, pointing to the example of Antoine Griezmann, who was loathed for leaving to join Barca but eventually won fans back with committed, high-quality performances after pushing hard to return from the Camp Nou.

Those were very different circumstances, and Atletico’s fans might not be so quick to forgive and forget.

At Atletico, there is at least some relief that the window is now shut, although it is difficult to imagine that all the anger and indignation will have died down by the time Barcelona visit in early November.

Beyond that lies the January transfer window. Will Barca come back in again? Will circumstances allow it?

Again, only time will tell.