Julian Alvarez is not considering a move to Arsenal this summer, even though the Gunners currently represent his only realistic option, according to reports.
Arsenal are also keen on the 26-year-old and were reportedly preparing to open talks with Atletico.
However, the situation remains at a complete standstill.
Cadena SER reports that Atletico are refusing to negotiate with Barcelona over Alvarez, leaving Arsenal as the only viable destination on the table.
Despite this, the former Manchester City striker has no intention of joining the Premier League champions.
Alvarez joined Atletico Madrid in a £81.5 million deal from Manchester City two years ago.
He is currently with Argentina’s national team as they prepare for their 2026 World Cup campaign, which begins against Algeria on June 17.