
The Spanish side are pushing for the striker to make a decision on his future by Friday to give them time to sign a replacement. The Independent reports that Alvarez's dream was to join Barcelona but Atleti have completely shut down a move to their La Liga rivals.
And they could have another advantage up their sleeve. The Independent report also claims the Arsenal stars Viktor Gyokeres and Gabriel Jesus are "appealing" to Atletico as ways of strengthening their attack, raising the possibility that one – or both – could be included in any potential deal.
It has been reported that the La Liga side had been seeking around £128million (€150m) for Alvarez, but the addition of one – or two – Arsenal stars heading in the opposite direction would reduce this fee.
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Jesus is now in the final year of his deal and has consistently been linked with a move away from the Emirates. It is understood he would be free to depart if the right offer came along. Gyokeres has also been cropped up in reports with links to Barca but Arsenal are not in active discussions at present.
Whether Arsenal would countenance allowing one or both to join Atletico in any sort of deal involving Alvarez remains to be seen.
Alvarez's situation at the Metropolitano Stadium is increasingly sticky after Sunday night's La Liga opener against Villarreal. Following his public revelation that he wants to depart Madrid, home fans greeted him with boos and whistles during the club's 2-2 draw with their opponents.
Across two seasons with Atleti, the striker has made 66 goal contributions in 107 appearances, including 22 in the Champions League. Alvarez also has Premier League experience, having spent two seasons under Pep Guardiola at Manchester City.
He scored 36 times and assisted 19 goals in 103 games for City, winning the Champions League, FA Cup, UEFA Supercup and two Premier League titles.
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