Arsenal Face Bittersweet News as Fabrizio Romano Provides Update on €300m Transfer Targets

Arsenal faces a bittersweet transfer update: Julian Alvarez remains a summer possibility for €120m, but Khvicha Kvaratskhelia is staying at PSG.

By: AXL Media

Published: Apr 28, 2026, 4:07 AM EDT

Source: Information for this report was sourced from Football365

Strategic Planning Amidst a Historic Season

As Arsenal navigates the final rounds of a season that could yield both a Premier League title and a Champions League trophy, manager Mikel Arteta and sporting director Andrea Berta are already looking toward the summer window. Despite the high-profile acquisition of Viktor Gyökeres last year, the club remains intent on upgrading its attacking frontline. Internal evaluations suggest that while the squad has achieved unprecedented success, the long-term futures of players like Leandro Trossard and Gabriel Martinelli remain under internal review, prompting Berta to scout for elite, world-class reinforcements.

The Pursuit of Julian Alvarez and the Havertz Dilemma

The primary target for the North London club appears to be Atletico Madrid’s Julian Alvarez, a player whose tactical versatility and championship pedigree are highly coveted by Arteta. According to reports from CaughtOffSide, Arsenal is so determined to secure the Argentine that they are considering the sale of Kai Havertz to help meet Atletico’s €120 million (£104m) valuation. The situation is particularly delicate given that Arsenal is set to face Alvarez and Atletico in the Champions League semi-finals this spring. Alvarez has reportedly deferred any final decision on his future until the conclusion of the continental campaign, as he remains focused on making history with the Spanish side.

Romano Clarifies the Alvarez Negotiation Status

Transfer guru Fabrizio Romano has provided crucial context to the Alvarez rumors, noting that while the player is currently focused on the pitch, he has not entered into negotiations for a new contract in Madrid. Romano emphasized that "all doors are open" for a summer move, providing Arsenal with a genuine window of opportunity once the season ends. The Italian journalist stressed that the lack of contract talks suggests a fluid situation, though out of respect for his current club, Alvarez is unlikely to entertain formal bids until Atletico's Champions League fate is decided. For Berta, this represents the "sweet" portion of the update, confirming that a deal is geographically and financially feasible.