The Mexico international has been transfer-listed by the Hammers as they seek to raise funds late in the summer window.
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TMW says West Ham boss Graham Potter has approved Alvarez's sale as he sees the Mexico captain as surplus to requirements.
Despite Potter's opinion, Alvarez is attracting interest from several of Europe's major clubs.
Borussia Dortmund and AS Monaco are both keen, as are Ajax, where Alvarez spent four years between 2019 and 2023 before he left for London.
