Alvarez has publicly informed Atletico Madrid that he wants to be sold but Atletico do not want to sell and there is a big gap between the clubs' valuations of the striker and what clubs are willing to pay.
Speaking after their group-stage victory over Austria, the 26-year-old expressed his desire to leave Atletico to "fulfil his dream" which reports suggest is at Barcelona who are in the race with Arsenal at the present moment.
Barcelona President Joan Laporta says their current bid of just over £100M remains on the table but Atlético Madrid CEO Miguel Angel Gil had denied any chances of an Alvarez departure this summer.
“My position is clear, the club’s position is clear. We’ve made it known to the player, his representatives, and the president of Barcelona”.
“I have absolutely no doubt that Atlético is the right place in the world for Julián, and that Julián is the perfect centre-forward for Atlético Madrid. We want to keep him”.
“I recently heard the president say that the offer he made to Atlético Madrid wasn’t unlimited. My only response is that our answer is unlimited”.
“We do NOT want to transfer him. We didn’t accept an offer of €100 million, and we won’t accept one of €150 million or even €200 million”.
Across all competitions, the Argentine forward made 57 appearances, scoring 29 goals and providing 8 assists last season for the Spanish giants who will not budge on their price, even if the striker wants to leave.