The two clubs have been locked in a furious war of words in the last 48 hours with Atleti claiming they are the sole victim in the ongoing transfer saga.
Alvarez shocked the club by stating his desire to leave this summer whilst away on international duty at the 2026 FIFA World Cup.
His preferred destination is Barcelona, but the defending Spanish champions have not come close to meeting Atleti's valuation, and he now looks set to stay in Madrid.
Arsenal have also been linked with an offer as Atleti harden their position towards the Catalan giants.
Barca club president Joan Laporta has indicated his offer for Alvarez remains open, but Atleti are angered by his handling of the talks, and have now informed their rivals of a '0% chance' on a deal.
That statement has since been backed up by a special meeting of the club board - which reached the following conclusion earlier today.
"The members of Atletico Madrid’s Board of Directors have unanimously expressed their full support for the club’s decision not to negotiate the transfer of Julian Alvarez to Barcelona
“Atletico Madrid is open to the usual negotiations that take place in the transfer market, but always in an ethical and professional manner, with respect between clubs. We fully support the position previously communicated by the club that Barcelona have not met these requirements and, as a result, there have been no negotiations, nor will there be any, with them regarding the transfer of Julian.
"Atletico Madrid are convinced the player understands the decision and is focused on working in the best possible way to help the club achieve its objectives, as he has already done during the two seasons in which he has defended the club’s colours."