Arsenal will be forced to DESTROY Prem transfer record to sign Julian Alvarez as Real Madrid have £130m bid rejected

ARSENAL will have to smash the British transfer record if they want to sign Julian Alvarez. Real Madrid last night saw a whopping £130MILLION bid rejected by rivals Atletico Madrid for the Argentine superstar. Alvarez, 26, is a top target for the Gunners as Mikel Arteta looks to add firepower to the Prem champions’ squad. But the Gunners will need to eclipse the record £130m fee that Liverpool paid for Alexander Isak last summer if they want to prise Alvarez out of the Spanish capital. Morgan Rogers, Eli Junior Kroupi and Bradley Barcola are also on Arteta’s shortlist of attacking targets. Newly re-elected Real Madrid President Florentino Perez teased on Sunday that his club would make a £130m bid for a new ‘Galactico’. Read more on football Real confirmed: “We have made an offer of 150 million euros (£130m) to Atletico Madrid for Julian Alvarez. “After reviewing and evaluating the offer, Atletico 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.” That clause stands at a staggering £431MILLION. Atletico mocked Real in response — just like when they rebuffed Barcelona’s approach last month. Most read in Sport SUN VEGAS WELCOME OFFER: GET UP TO £100 BONUS The club posted on X: “You must have confused politeness with gratitude, but just so there’s no doubt: we’re not thanking you for anything. “We’re neither considering nor evaluating any offers for Julian. “How could we not get along, when you make us laugh even more than Barcelona. “Let’s see if you stop ‘stealing’ players from our Academy. Thank you very much Real Madrid.” Alvarez, who is contracted at the Metropolitano until 2030, scored 20 goals in all competitions for Atletico this season. The former Manchester City ace is currently in the US preparing for the World Cup with the Argentina squad. Should Atletico hold firm on their demands that a potential buyer forks out the full release clause, Alvarez’s exit seems highly unlikely this summer.