Official: Real Madrid announce €150m Julian Alvarez bid

Updated: 9 Jun 2026 19:09 BST | 5 min read

Florentino Perez, Julian Alvarez, Real Madrid — © IMAGO

Tom Weber | Writer

Multilingual sports writer who specialises in European football and American soccer.

Real Madrid have confirmed that they have made a €150 million bid for Atletico Madrid striker Julian Alvarez.

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The Argentina international is undoubtedly already one of the protagonists of a summer transfer window that has not even officially opened yet. Alvarez is being chased by numerous clubs after growing frustrated at Atleti.

Barcelona are believed to be his preferred destination, while Arsenal have also explored a transfer. On Monday, a report from Germany revealed that Real Madrid could make a move for the 26-year-old as well.

Current ETV

Julián Álvarez

F (C)

Atlético Madrid

Julián Álvarez

F (C)

Atlético Madrid

ETV Range

€101.7M - €124.3M

Ahead of his re-election last Sunday, Real Madrid president Florentino Perez promised that he would make a €150m offer for an unnamed player today, Tuesday. This player was initially expected to be Michael Olise.

However, with Bayern insisting that the France international is not for sale at any price, it was posited that Los Blancos could actually make a proposal for Alvarez - despite the fact that he plays for the club's city rivals.

Real Madrid make Alvarez bid

And this is now exactly what happened. Remarkably, Real Madrid have publicly announced that they have submitted an offer for Alvarez for a fee of €150m, which is reportedly Atleti's unofficial asking price. However, the Rojiblancos have rebuffed the bid.

"Real Madrid C. F. announces that, following the meeting of the Board of Directors held today, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarez," the statement read.

"After reviewing and evaluating the offer, Club Atletico de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player's release clause."

The release clause in question stands at €500m and was inserted into Alvarez's deal when he joined from Man City in 2024. Most players in Spain are required to have release clauses, though there are rare exceptions.

Alvarez release clause revelation

However, all may not be as it seems. Shortly before Real Madrid published their statement, Ben Jacobs reported that Alvarez's release clause is much more "complicated" than it appears at first glance

The €500m figure does not apply to all clubs, and there are "provisions" in his contract that actually allow him to join specific teams for a significantly smaller sum. In fact, the fee is understood to be lower than €150m.

Certain Champions League clubs are able to make use of these provisions, with Barcelona thought to be among them. There was no mention of Real Madrid, and perhaps they are not one of the sides this exemption applies to, which is why Atleti were able to reject their bid.

This story, though, is likely to keep developing. If true, this revelation means that Atleti may have no choice but to sell if, say, Barcelona cough up the money. Again, the Catalans are Alvarez's preferred club, and they have already seen a €100m bid rejected.

Why does Alvarez want to leave?

Alvarez's desire to move stems from Atleti's failure to win silverware in his two years at the club. This has convinced him that he should take his talents elsewhere. However, he is not the type of player who will try to force through a transfer by any means necessary.

Given that he is currently distracted by the World Cup, Alvarez is letting his agent Fernando Hidalgo and intermediaries take care of his future. Recent reports in Spain have suggested that the 26-year-old could stay put if Barcelona fail to strike a deal with Atleti.

The relationship between the two LaLiga giants is poor, culminating in Atleti ridiculing Barcelona on social media after the Catalans made that reported €100m bid. The Madrid outfit deny ever having received that offer.

Real Madrid joining the race for Alvarez adds another intriguing layer to this story because there are pictures out there of Alvarez sporting a Blancos jersey as a child. That may not mean anything, but it is worth bearing in mind.

Whatever the outcome, this saga will likely keep us occupied for the foreseeable future.

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