Real Madrid’s ambitious pursuit of Atletico Madrid striker Julian Alvarez has hit a significant roadblock, with their colossal €150 million (£129 million) offer swiftly rejected by their city rivals. The bid, which Real Madrid president Florentino Perez had previously hinted would be a historic outlay for the club, aimed to secure the services of the highly-rated Argentine forward.

Atletico Madrid, however, stood firm, explicitly referencing Alvarez’s formidable €500 million (£431 million) release clause as the reason for their refusal, according to the Evening Standard. Despite the intense rivalry between the two capital clubs, Real Madrid’s statement indicated the offer was “made within the framework of the good relations existing between both clubs.”

In a public statement, Real Madrid CF confirmed the offer and its outcome: “Real Madrid CF announces that, following today’s Board of Directors meeting, it has made an offer of €150 million (£129m) to Club Atletico de Madrid for the federative rights of the player Julian Alvarez. After studying and evaluating it, Atletico de Madrid has thanked the club for the offer, made within the framework of the good relations existing between both clubs, and has rejected it, referring to the player’s release clause.”

Perez’s record-breaking intent

This record-breaking attempt follows earlier declarations from Florentino Perez, who, prior to his re-election as president, vowed to make an unprecedented transfer. He had stated his intention to make an offer that would redefine the club’s transfer history:

Read also: Ajla Tomljanovic reflects on her historic Serena Williams win as legend eyes comeback

“I’m going to make an offer to an important Champions League club for a great player that would be the largest amount of money that Real Madrid have paid for a transfer in all of their history, €150m (£130m) at the very least.”

Initially, Bayern Munich and France star Michael Olise was also speculated as the target for Perez’s promised “huge bid,” before Alvarez emerged as the primary focus.

Alvarez’s high demand

Alvarez, an Argentine striker, is considered one of Europe’s most coveted talents, attracting interest from several top clubs. Beyond the Madrid giants, the forward has been linked with:

Arsenal

Read also: Xabi Alonso makes Enzo Fernandez transfer decision as Real Madrid eye Chelsea midfielder

Barcelona

PSG

The €150 million bid would have comfortably surpassed Real Madrid’s current record transfer fee, set in 2023 for Jude Bellingham, who joined from Borussia Dortmund for £109 million. Atletico Madrid’s unwavering stance on Alvarez, however, makes it clear that any club hoping to secure his services will need to meet his substantial release clause.

Sources: www.standard.co.uk

Read also: How sports mega-events are fueling a global marketing boom

Read also: Arizona denied Iran access to World Cup 2026