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Atletico Madrid are ready to sell Julian Alvarez for €160 million. Arsenal and Barcelona are preparing official bids, with the club set to sell the forward to the highest bidder.

Atletico Madrid's hierarchy convened for an emergency board meeting, during which they confirmed their willingness to entertain offers for 26-year-old Argentine forward Julian Alvarez. The Spanish club has set a hefty asking price of €160 million for the World Cup champion. This news comes from reliable insider David Ornstein of The Athletic.

According to the source, the Rojiblancos are open to hearing official offers for their prized asset. London’s Arsenal and Barcelona are both poised to submit their initial bids in the coming days.

David Ornstein highlighted the stakes in the negotiations:

Atletico Madrid are prepared to listen to offers for Julian Alvarez, as Barcelona and Arsenal intend to submit official requests. The player himself favours a move to Barcelona; however, Atletico Madrid will sell to the highest bidder.

The tussle for the Argentine forward is shaping up to be one of the key intrigues in the final week of the transfer window: the Gunners are looking to bolster their attack after clinching the Premier League title, while the Catalan club hopes to leverage the player’s desire to stay in Spain to win the race.