Julián Álvarez has been one of the most talked-about strikers in recent weeks, not only because of his performances for Atlético Madrid but also due to mounting speculation about his future, including reported links to FC Barcelona. And as the Colchoneros set a record transfer fee, the Argentine striker is now reportedly attracting interest from yet another European heavyweight.
Widely considered one of the best forwards in the world, Álvarez’s long-term future at Atlético has come into question as the club continues to fall short in the race for major trophies, both in Spain and in Europe. Last season marked his first in Europe without winning a single title, a warning sign that could push him to consider a move elsewhere.
According to Sky Sports’ Sacha Tavolieri, Paris Saint-Germain have identified Julián Álvarez as their top target at striker. The Argentine was on PSG’s shortlist during his time at Manchester City, and with Luis Enrique now on the touchline, interest in the Atlético star has fully reignited.
Compared to last season, PSG have been hit hard by injuries early in the 2025-26 campaign, particularly to key players Ousmane Dembélé and Désiré Doué. Lacking enough high-level depth to cover those losses, the club has turned its focus to Álvarez, viewed internally as a near-perfect fit for Luis Enrique’s system.
Julian Alvarez #19 of Atletico Madrid against PSG.
Thanks to his goalscoring efficiency, age (25), technical quality, and relentless high-pressing work rate, Álvarez profiles as an ideal piece for the Spanish manager. Paired with a largely clean injury history, he has already produced nine goals and four assists in 15 matches across all competitions this season.
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Álvarez has previously responded to rumors linking him with Barcelona as the club looks to replace Robert Lewandowski, reiterating his commitment to Atlético for the current campaign and his focus on the 2026 World Cup. Still, if Atlético once again fall short in their pursuit of trophies, a move ahead of next season would hardly be a shock.
Álvarez’s transfer fee, the biggest obstacle
A return to the Premier League is reportedly off the table following his spell at Manchester City, while a move to Barcelona would be attractive from a lifestyle perspective. However, the primary obstacle for both Baca and PSG remains the price set by Atlético Madrid.
Despite Álvarez having a €500 million release clause in his contract, Atlético are expected to demand up to €120 million to let their striker go. That figure is well beyond Barcelona’s financial capabilities, leaving PSG and Luis Enrique in the strongest position to push for a deal, one that would match Atlético’s record sale, tied with Antoine Griezmann’s €120 million move to Barcelona in 2019.
