Reports from Spain suggest that the Spanish giants Real Madrid have confirmed that they made a €150 million (R2.47 billion)
offer to sign Argentine forward Julián Álvarez from rivals Atlético Madrid, but the bid was rejected.
Insiders from the club reportedly released said the club had formally approached Atlético Madrid for the transfer of the striker.
“Real Madrid C. F. communicates that, after the meeting of the Board of Directors held today, he has made an offer of 150 million euros to Club Atlético de Madrid for the federative rights of the player Julián Álvarez,” the statement read.
Atlético Madrid, however, turned down the offer despite the massive fee, insisting that Álvarez remains tied to the club through his release clause.
“After studying and evaluating it, Club Atlético de Madrid has thanked the offer made, within the framework of the good relations between both clubs, and has rejected it referring to the player’s termination clause,” Atlético said.
Reports indicate that Álvarez’s release clause is set at €500 million, making any potential move extremely difficult unless Madrid are prepared to meet the full amount.
Álvarez enjoyed an impressive campaign for Atlético Madrid, scoring 20 goals in 49 appearances across all competitions during the 2025/26 season.
The Argentine international joined Atlético Madrid after leaving English Premier League side Manchester City, where he won multiple trophies including the UEFA Champions League, Premier League and FA Cup under coach Pep Guardiola.
Despite his success at City, Álvarez often struggled for regular game time following the arrival of Norwegian striker Erling Haaland, who became the club’s first-choice forward. The limited opportunities eventually contributed to Álvarez seeking a move away from then English champions.
The development is likely to intensify one of the biggest transfer stories in European football, with the Argentine World Cup winner emerging as one of the most sought-after forwards in the game.
