Florentino Perez’s highly anticipated “mystery Galactico” has been unmasked as Atletico Madrid’s Julian Alvarez, but Real Madrid’s record-breaking €150 million bid for the striker has been swiftly rejected by their city rivals.
The revelation came just two days after Perez was re-elected as Real Madrid club president on Sunday. During his presidential campaign, Perez had pledged to spend “about €150 million” on a “great player” from a “major Champions League club,” a promise that captivated the football world.
Perez had meticulously kept the player’s identity under wraps, ruling out several high-profile names. “Olise is a great player, but it’s not Olise. It’s not Doku either. We’re going to make a significant offer, at least around €150 million,” Perez told Spanish TV show Horizonte. “He needs to be a midfielder who can drive forward. And it’s not Haaland. The player is not from the Premier League. And the first thing we’ll do is talk to the club. It’s a signing meant to generate excitement because that’s what it’s all about — generating excitement.”
Atletico stands firm on Alvarez
On Tuesday, Real Madrid confirmed they had made an offer of €150 million (£129.4 million) for the “federative rights” of Julian Alvarez. However, Atletico Madrid wasted no time in rejecting the proposal, citing the player’s release clause.
Read also: Alpine F1 formally complaining about Monaco GP penalties
“Real Madrid C. F. announces that, following the meeting of the Board of Directors held today, it has made an offer of 150 million euros to Club Atlético de Madrid for the federative rights of the player Julián Álvarez,” read an official Real Madrid club statement. “After reviewing and evaluating the offer, Club Atlético de 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.”
The rejection by Atletico follows a similar pattern, with fellow La Liga side Barcelona reportedly seeing a €100 million (£86.3 million) bid for Alvarez turned down last week. While Alvarez’s contract was initially believed to contain a colossal €500 million (£431.3 million) release clause, reports from GIVEMESPORT indicate that his deal includes “provisions for certain Champions League clubs,” potentially allowing them to sign him for a fee closer to €150 million. Despite links, Arsenal and Paris Saint-Germain have yet to lodge official bids for the Argentine forward.
Arbeloa departs amid Mourinho speculation
In a separate announcement, Real Madrid confirmed the departure of head coach Alvaro Arbeloa. “Real Madrid CF and Álvaro Arbeloa have reached an agreement to end his time as first-team coach,” the club stated. “Real Madrid is deeply grateful to Álvaro Arbeloa, who, throughout his time at the club — from his days in our youth academy onwards — has consistently demonstrated loyalty, commitment and professionalism. He exemplifies the values of our club. Real Madrid, which will always be his home, wishes Álvaro Arbeloa and his entire family the very best of luck in this new chapter of their lives.”
Arbeloa’s exit is widely seen as clearing the path for the impending arrival of Jose Mourinho, signaling a period of significant change both on and off the pitch for the Spanish giants.
Read also: Triple opening ceremonies set to ignite 2026 FIFA World Cup
Sources: www.givemesport.com
Read also: Schumacher nurse describes her role as Joey Mawson rape trial goes on



