€210m Barcelona agreement changes everything for Julian Alvarez

10 Jul 2026 11:06 BST | 5 min read

Robin Bairner | Chief Editor

Accredited football journalist and editor covering the game since 2006

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Barcelona have secured a €210 million agreement that promises to transform the club’s transfer policy over the course of the 2026/27 season.

The Spanish champions have already secured the signing of Anthony Gordon in an €80 million deal from Newcastle United while they are closing in on a move for Borussia Dortmund winger Karim Adeyemi.

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However, the priority for the Blaugrana is to make a marquee signing in attack, with Julian Alvarez of Atletico Madrid the player they have earmarked to arrive in a blockbuster move this summer.

Current ETV

Julián Álvarez

F (C)

Atlético Madrid

Julián Álvarez

F (C)

Atlético Madrid

ETV Range

€93.4M - €114.1M

Julian Alvarez to Barcelona: The state of play

Diego Simeone’s side have rejected the approaches of Barcelona out of hand – just as they have indicated a readiness to turn down bids from Real Madrid, Arsenal and PSG, who are also interested in the Argentina international star.

The subject of Alvarez’s transfer is a thorny one between the clubs. When it was announced by Fabrizio Romano that Barca had made an offer for the former Manchester City man, Atletico Madrid replied in sarcastic style publicly, taking to X to announce a ‘bid’ for Lamine Yamal:

“HERE WE GO! We have sent a fax to Barcelona with our transfer offer: 4 tickets for tomorrow's Bad Bunny concert, an annual subscription to ABC, and a bag of sunflower seeds. We eagerly await the response to prepare the 'announcement’.

“And remember, it took us just five minutes to create this fake post. We live in an era where reality can be altered. Don’t believe everything you see, especially if it’s related to Barca.”

Atleti have also turned down a €150m bid from Real Madrid for Alvarez, indicating the type of money they expect for the player.

© IMAGO - Julian Alvarez, Atletico Madrid

Barcelona take drastic action to fund transfers

Such a sum has been out of Barcelona’s reach in recent years due to the Financial Fair Play measures placed upon them by La Liga, yet all that could be about to change after a historic €210m agreement was struck by the Catalan side.

Mundo Deportivo reports that they have agreed a loan for that value that will effectively act as an advance on the club’s television rights revenue.

It is expected that €105m will be received by the club in July, with the same figure again being banked in November.

Sources have told the Catalan paper that the cash injection is “primarily to finance signings and payroll”.

Barcelona have been forced to take this course of action because of delays to their Espai Barca project, principally the construction delays that have postponed the inauguration of key revenue drivers, such as the VIP boxes at Camp Nou.

What this means for Julian Alvarez

This fresh influx of money can transform Barcelona’s transfer window as it finally opens up the possibility of the club signing their marquee replacement for Robert Lewandowski, who departed as a free agent at the end of June.

In particular, it opens up the possibility of signing Alvarez, who Lamine has been openly courting.

Speaking to Mundo Deportivo, the Spain winger said: “Everyone knows he's a top player, the kind everyone wants to play with. I've already said it: we're open to welcoming him, and if he comes, we'll all be very happy.

“I think he's a great fit for Barca's style. I have no idea what the situation is, but I hope so.”

Alvarez himself appears to be driving a summer transfer to Barcelona, and this latest loan agreement has brought the possibility closer than ever.