Real Madrid have seen a €150 million bid for Atletico Madrid striker Julian Alvarez turned down, just days after club president Florentino Perez secured re-election and promised supporters a major signing.
Perez had vowed during his campaign to make a record-breaking offer for a new superstar if he remained in charge of the club. Following his election victory on Sunday, Real moved quickly by submitting a €150 million proposal for the Argentina international.
However, Atletico Madrid immediately rejected the approach, pointing to Alvarez’s €500 million release clause and making it clear they have no intention of negotiating a sale.
Real Madrid confirmed the offer in an official statement, explaining that the proposal had been presented following a board meeting. Atletico responded publicly and took the opportunity to mock their city rivals on social media.
The club reposted Real’s statement with laughing emojis before issuing a series of messages dismissing the bid. Atletico stated they had not considered any offer for Alvarez and joked that Real’s proposal had provided more entertainment than Barcelona. The club also took a swipe at Real over the recruitment of young players from Atletico’s academy.
Alvarez joined Atletico from Manchester City in 2024 in a deal worth £81.5 million. The 2022 World Cup winner 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 confirmed another major development, announcing the departure of head coach Alvaro Arbeloa.
Arbeloa took charge in January after leaving his position with Real Madrid B, replacing Xabi Alonso. However, after overseeing a season that ended without silverware, the former defender had already indicated he would step down at the end of the campaign.
His replacement will be Jose Mourinho, who returns to the Santiago Bernabeu more than a decade after his first spell in charge between 2010 and 2013. The Portuguese coach, who recently managed Benfica, agreed a three-year contract in May that depended on Perez winning re-election.
In a farewell statement, Real Madrid thanked Arbeloa for his years of service, praising his loyalty, professionalism and commitment from his days in the academy through to his time as first-team manager.
The club added that Real Madrid would always remain his home and wished him and his family success in the next chapter of their lives.