Real Madrid bid for Álvarez reportedly reaches €150m, but Atlético Madrid reject the approach and point to the striker’s release clause

Atlético Madrid have reportedly rejected a €150 million offer from city rivals Real Madrid for Argentine forward Julián Álvarez, underlining the striker’s importance to the club’s long-term sporting project.

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According to a post attributed to Real Madrid on Tuesday, the Spanish giants submitted the offer after a meeting of the club’s board of directors as they explored options to strengthen their attacking department ahead of the new season.

The reported proposal would have represented one of the biggest transfers in Spanish football history.

However, Atlético are said to have swiftly rejected the approach despite the substantial fee on offer.

According to the statement, Atlético thanked Real Madrid for the proposal but referred the club to Álvarez’s release clause, indicating that the forward is not currently available for transfer through conventional negotiations.

“After reviewing and evaluating the offer, Club Atlético de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player’s release clause,” the statement said.

Álvarez has emerged as one of Atlético’s most influential players since arriving at the club, earning praise for his versatility, intelligent movement, relentless pressing and ability to operate in multiple attacking positions.

Club officials reportedly regard the Argentine international as a cornerstone of their future plans rather than a player available for sale.

The rejection also highlights the rarity and sensitivity of transfer dealings between the Madrid rivals, whose fierce competition on and off the pitch has historically limited direct business between the two clubs.

The reported bid comes amid growing speculation over Real Madrid’s transfer ambitions ahead of the summer window.

Club president Florentino Pérez recently pledged to authorise the largest transfer expenditure in the club’s history if re-elected on Sunday, fuelling expectations that the European giants could pursue another marquee signing as part of a renewed Galácticos-era vision.

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For now, Atlético’s stance appears firm, with Álvarez remaining a key figure in Diego Simeone’s plans despite strong interest from their biggest domestic rivals.