Arsenal’s Julian Alvarez Dream: Could the Atletico Madrid Star Finally Give Mikel Arteta the Missing Piece?

Arsenal begin their title defence in emphatic fashion

Arsenal could hardly have asked for a better start to their Premier League title defence. Mikel Arteta’s side followed their Community Shield victory over Manchester City by producing a commanding 3-0 win against newly promoted Coventry City at the Emirates Stadium, with Kai Havertz, Bukayo Saka and Martin Odegaard all finding the net.

The result strengthened the feeling that Arsenal have evolved into a more complete side after finally ending their long wait for the Premier League title. Their defensive structure remains one of the strongest in English football, while the midfield possesses considerable technical quality and depth. Yet despite the impressive performance against Coventry, questions remain over whether Arsenal possess the kind of individual attacking brilliance that can decide the biggest matches in Europe.

That is where Gary Neville believes Julian Alvarez could transform Arsenal. The former Manchester United defender and Sky Sports pundit has urged the Gunners to make an ambitious late move for the Atletico Madrid and Argentina forward, arguing that adding a player of Alvarez’s quality could be enough to take Arteta’s team beyond domestic success and towards Champions League glory.

“What a squad Mikel Arteta has built,” Neville said. “If he puts another forward into that, if they could get Julian Alvarez somehow, that would light this place up as you'd have a world-class striker to go with all the world-class defenders and midfielders.”

Neville’s argument is not simply that Arsenal need another goalscorer. His belief is that they need a forward capable of producing something unexpected when their usual system is not working. For a team with title ambitions and aspirations of competing deep into the Champions League, that individual quality can become decisive.

Neville: Alvarez could take Arsenal to the next level

Neville went as far as suggesting that signing Alvarez could turn Arsenal from Premier League champions into genuine Champions League winners.

“They wouldn't just become Premier League title winners, they'd go the next step and win a Champions League,” he said. “It's a massive 10 days. He needs a bit of magic up front – someone that can win a game for you when you don't play well.”

The timing of Neville’s comments is significant. The transfer window is approaching its final stages, meaning Arsenal have only a limited amount of time to decide whether their current attacking options are sufficient. Alvarez has been linked with several major European clubs, including Arsenal, Barcelona and Paris Saint-Germain, but Atletico have consistently signalled that they have no desire to sell their star forward.

Atletico chief executive Miguel Angel Gil Marin has previously indicated that the club would resist offers for Alvarez, reportedly suggesting that even a bid of £170m would not be enough to persuade them to part with the player. Any attempt by Arsenal to complete such a deal would therefore represent one of the most ambitious transfers in the club’s recent history.

Alvarez’s appeal is obvious. The Argentine is capable of playing as a central striker but can also operate in deeper or wider attacking positions. His movement, technical ability, pressing and finishing make him particularly attractive to a side built around positional football. He can drop into midfield to combine with teammates, but he also has the instinct to attack spaces behind defenders – something Neville believes Arsenal have occasionally lacked.

That distinction could be crucial.

Why Odegaard could benefit from Alvarez

One of Neville’s strongest arguments concerns Martin Odegaard. The Arsenal captain is one of the key creative figures in Arteta’s system, but his ability to play decisive passes can sometimes be limited by the movement of the players ahead of him.

Neville believes Alvarez could change that dynamic.

“He [Odegaard] is exceptional,” Neville said. “If there was an Ian Wright-type player up front for Arsenal who makes those short runs he'd be even better.”

The comparison is revealing. Ian Wright was not simply a striker who waited for chances in the penalty area. His movement constantly created problems for defenders, giving Arsenal’s midfielders opportunities to play passes into space. Neville believes Alvarez could provide a similar outlet for Odegaard.

The former England defender argued that Arsenal’s current forwards, including Havertz and Viktor Gyokeres, often come towards the ball rather than immediately attacking the space behind the defence.

“As Havertz and Gyokeres always come to the ball, Odegaard has to play possession rather than playing the slip passes,” Neville explained. “If Arsenal were to sign Julian Alvarez then he'd go up a level as it would be perfect for the style of play.”

That could make Alvarez more than simply another attacking option. His movement could potentially alter how Arsenal’s entire attacking structure functions.

Arsenal may already have found another solution

However, the performance against Coventry also provided an important counterargument to the idea that Arsenal desperately need another superstar.

The Gunners’ attacking play looked significantly sharper than it had at various stages of the previous campaign, with new and returning players contributing to a more dynamic front line. One of the biggest positives was the performance of Christos Tzolis, whose energy and directness from the left caused Coventry major problems.

After a relatively quiet opening period, Tzolis suddenly became a major attacking threat, producing two shots and creating two chances in a four-minute spell. His contribution went beyond statistics, however. His willingness to attack defenders and make aggressive runs gave Arsenal another dimension on the flank.

He was also directly involved in the goals that put the match beyond Coventry. Tzolis won possession high up the pitch for the first goal before delivering the cross that allowed Saka to score Arsenal’s second.

His emergence could prove extremely important for Arteta. Arsenal have spent considerable money improving their squad, and the early evidence suggests some of those additions could provide the attacking variation the team lacked previously.

The same applies to Odegaard.

The Norwegian midfielder followed his outstanding Community Shield display with another influential performance against Coventry, scoring his first league goal of the season. Remarkably, that goal already matched his entire Premier League tally from the previous campaign, during which injuries restricted him to only a fraction of the season.

The biggest encouragement for Arsenal may therefore be that Odegaard is effectively returning to the level he showed before his injury problems.

Saka, Odegaard and Havertz finally have continuity

Another statistic highlighted after the Coventry victory demonstrates just how disrupted Arsenal’s attacking combinations were last season.

Saka, Odegaard and Havertz had started together only twice since December 2024 before the Coventry match. All three scored against Coventry, providing Arteta with a glimpse of what Arsenal can look like when their most important attacking players are available simultaneously.

That continuity could be just as important as any potential transfer.

Arsenal’s title-winning campaign was built on consistency, defensive organisation and an ability to control matches. But the club's ambitions have expanded. Winning the Premier League has removed one psychological barrier, and now the Champions League represents the next major target.

Jamie Carragher believes Arsenal may not necessarily need to buy a superstar to achieve it.

The former Liverpool defender agreed with Neville that Arsenal currently lack an undisputed world-class player in the front four, but he argued that Saka and Odegaard still have the potential to become that level of player themselves.

“About two years ago I thought Saka and Odegaard would make that next step,” Carragher said. “For whatever reason it's not happened due to injuries or Arsenal not being at their best.”

Carragher compared the pair with the players who helped Manchester City and Liverpool dominate English football in recent years, pointing to figures such as Kevin De Bruyne, Erling Haaland, Mohamed Salah and Sadio Mane.

His argument is that Arsenal have already proved they can win the league without Saka and Odegaard reaching those individual heights. The next step may come naturally as the players gain experience of being champions.

The psychological advantage of being champions

Carragher believes the experience of winning the Premier League could itself make Arsenal stronger.

“The psychological factor of being champions now will take this Arsenal team to another level rather than buying a superstar player,” he argued.

That is an important consideration for Arteta. Arsenal are no longer trying to convince themselves that they can compete with the best. They have already reached the summit of English football. The challenge now is maintaining that level while handling the additional demands of Champions League football.

Adding Alvarez would unquestionably increase the squad’s attacking quality, but it could also raise questions about the roles of Havertz, Gyokeres and other forwards. Arteta has spent years developing a carefully balanced squad, and bringing in a £100m-plus superstar would inevitably change the hierarchy within the attack.

There is also the question of whether Atletico would even negotiate.

With the Spanish club reportedly unwilling to entertain a major offer for Alvarez, Arsenal would have to decide whether such a huge investment represents the best use of their remaining transfer budget. The fact that Alvarez is already one of the most sought-after forwards in Europe means any late attempt would likely be extremely complicated.

For now, Arteta is refusing to make the transfer debate the centre of attention.

After the Coventry victory, he insisted that Arsenal’s main priority should be improving the players already at the club and strengthening the connections between them. He specifically pointed to how rarely Saka, Odegaard and Ben White were able to play together on the right side last season because of injuries.

That continuity could unlock another level from players Arsenal already possess.

Can Arsenal win the Champions League without Alvarez?

The question ultimately goes beyond whether Alvarez would be a good signing. Almost everyone would agree that he would improve Arsenal. The more difficult question is whether Arsenal need him.

The early evidence from the new season suggests the answer may be no – at least not necessarily.

Arsenal already have a world-class goalkeeper and defensive unit, a midfield capable of controlling possession and a collection of attacking players with the quality to hurt elite opponents. Odegaard appears fit and confident again, Saka has started the campaign strongly, Havertz has contributed immediately and Tzolis has provided an exciting new attacking option.

Yet Neville’s argument remains compelling because Champions League football often comes down to moments rather than overall control. A team can dominate for 89 minutes and still need one extraordinary piece of individual quality to decide the tie.

Alvarez has demonstrated throughout his career that he can provide those moments.

He can finish chances, create for teammates, press aggressively and move intelligently across the attacking line. For an Arsenal side that already has an elaborate positional structure, his ability to move between the lines and attack spaces could make him an especially natural fit.

The next 10 days of the transfer window will therefore be fascinating for Arsenal. Arteta may ultimately decide that his current squad is strong enough and that developing the players already available is the better path. Alternatively, the club could make one final blockbuster move and attempt to prise Alvarez away from Atletico.

Either way, Arsenal have already sent an early warning to their rivals.

The 3-0 victory over Coventry, combined with the Community Shield triumph over Manchester City, suggests the champions have returned with renewed confidence. Whether they can turn that domestic dominance into European success remains one of the biggest questions of the season.

And if Neville is right, adding one more piece of “magic” could be what finally takes Arsenal from Premier League champions to Champions League contenders.