Atletico Madrid have rejected a £130 million (€150 million) offer from city rivals Real Madrid for Argentine striker Julian Alvarez.
The bid came shortly after Real Madrid president Florentino Perez secured re-election and fulfilled a campaign promise to make a €150 million offer for a “galactico” signing.
However, Atletico swiftly turned down the proposal, pointing to Alvarez’s €500 million (£430 million) release clause and making it clear they have no intention of selling the 26-year-old forward.
In a statement, Real Madrid confirmed the offer had been submitted but said Atletico declined to negotiate, referring instead to the player’s release clause.
Atletico responded on social media with a series of mocking posts, insisting they would not even consider offers for Alvarez. The club also took aim at Real Madrid over their long-running rivalry, joking that the bid made them laugh “even more than Barcelona does.”
Alvarez joined Atletico from Manchester City in a deal worth £81.5 million in 2024 and enjoyed an impressive campaign, scoring 20 goals in 49 appearances as Atletico finished fourth in La Liga and reached the UEFA Champions League semi-finals.
Meanwhile, Real Madrid have also confirmed that head coach Alvaro Arbeloa will leave the club following a trophyless season.
The Spanish giants are expected to appoint Jose Mourinho, who previously managed the club between 2010 and 2013. Mourinho reportedly signed a three-year agreement that became active after Perez secured another term as club president.
Real Madrid thanked Arbeloa for his service, describing him as a figure who has consistently embodied the club’s values throughout his playing and coaching career.
