
The Argentinian striker has been linked with a move away from Diego Simeone's side throughout the summer.
Atelti turned down an approach from city rivals Real Madrid at the start of the window, before Barcelona made it clear they wanted to sign Alvarez.
The former Manchester City star has expressed a desire to leave the club, stating he wanted to join the reigning La Liga champions.
However, Atleti have also made it clear that they won't sell to their La Liga rivals, leaving Alvarez frustrated.
Alvarez was named on the bench for the 2-2 draw with Villarreal, coming on as a second half substitute to jeers and boos from his own fans.
He helped the ten men of Atletico come from behind to earn a point, but was given a frosty reception by his own fans throughout the game.
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Alvarez was led down the tunnel by staff while his teammates went over to show their appreciation to supporters at full-time.
Alvarez was again, subjected to boos and jeers as he made his way off the pitch, raising further doubts about his future at the club.
Ahead of the game, the Atleti boss said: "For me, Julian is an extremely important player for us to achieve our objectives. As long as he’s with the team, I’m going to look after him."
Arsenal are understood to be keen on a move for the striker, as they look to bolster Mikel Arteta's squad.
The Gunners are looking to retain their Premier League crown and go one further by winning the Champions League.
Signing Alvarez would be a major statement of intent and according to reports in Spain, Arsenal could be the only avenue left open for the Argentinian striker, should he wish to leave the club.
There's been a huge backlash to Alvarez's comments about joining Barcelona, with posters put up around Atleti's training ground which read “JULIAN FUERA” (“JULIAN OUT”) and showed the striker's No. 19 crossed out on Friday morning.
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