Man City 'in talks' with Spanish giants over £70m attacker transfer

The 24-year-old has proven his worth to Pep Guardiola over the past two seasons and boasts 54 goal contributions from 103 matches in a Man City shirt, 36 of his own and 18 assists.

The 2023-24 campaign was a standout year for Alvarez, who managed 19 goals and 13 assists in 54 appearances across all competitions en route to a second successive Premier League title.

However, in spite of his terrific feats in sky blue, Alvarez will always be Man City's second-choice striker when Erling Haaland is fit and firing, allegedly leading to some frustration behind the scenes.

Rumours surrounding Alvarez's future have begun to swirl over the past few weeks, even though his contract at City runs until the summer of 2028, with several European giants competing for his services.

Atletico 'battling Paris Saint-Germain' for Alvarez

Speculation will only ramp up now that Alvarez's Argentina have been eliminated from the Paris 2024 Olympics, where the ex-River Plate man set up two goals in four games but could not prevent his side from losing to hosts France in the quarter-finals.

According to the Daily Mail, La Liga titans Atletico have now initiated talks with Man City over a deal to sign Alvarez, whom they tried and failed to bring to the Spanish capital earlier in the summer window.

Atletico head coach Diego Simeone has already lost Euro 2024-winning striker Alvaro Morata to AC Milan, while Joao Felix is also expected to leave the club permanently amid links with Aston Villa.

Furthermore, Antoine Griezmann is now in the twilight of his career at 33, meaning that the La Liga side are in need of an attacking refresh, which the signing of Alexander Sorloth and rise of Chelsea-linked Samu Omorodion has partially provided.

However, the report adds that Los Rojiblancos could be made to fork out over £70m to sign Alvarez, nearly quadruple the €21.4m (£18.2m) Man City paid River Plate for his services in 2022.

Paris Saint-Germain are considered Atletico's main competition for the 24-year-old, who is also believed to be on Arsenal's radar, but the Citizens are highly unlikely to do business with their Premier League title rivals.

What have Guardiola, Alvarez said about the situation?

Alvarez has only added fuel to the fire surrounding his next career move while at the Olympic Games, refusing to close the door on a transfer and admitting that he wanted to start more big games for Man City.

The Argentine's comments triggered a curt response from Guardiola, who affirmed that Alvarez was not the only player who was pining for more minutes in important matches, and he directed his agent to talk with director of football Txiki Begiristain.

Alvarez was asked about Guardiola's reply, to which he insisted that he did not say "anything bad" and reiterated his happiness in Manchester, where he will return after a post-Olympics holiday.

The Argentine will almost certainly miss next weekend's Community Shield with Manchester United, and it remains to be seen if he is back for Man City's opening Premier League game of the season away to Chelsea on August 18.