Robert Lewandowski’s time at FC Barcelona appears to be nearing its end, with the Polish striker entering the final year of his contract at age 37. With the club facing the prospect of losing one of its most reliable scorers in the short term, the Blaugrana are reportedly moving to identify a long-term replacement, with a $117 million Argentina star now emerging as a prime target amid heavy competition from Europe’s elite.
According to Ben Jacobs, several top European clubs are closely monitoring the situation of Julián Álvarez ahead of the summer of 2026. The Argentine forward is reportedly unsettled at Atlético Madrid, where he has struggled to consistently showcase his full potential, and the club’s difficulties in competing for major trophies could become a decisive factor in a potential departure.
Barcelona’s interest in Álvarez dates back to his time at Manchester City, but financial limitations and Lewandowski’s continued productivity made a move unrealistic at the time. Now, with uncertainty surrounding Lewandowski’s future, the Catalan club are said to be taking concrete steps toward positioning themselves for a possible transfer.
Jacobs reports that sporting director Deco held initial talks with Álvarez’s representatives in January to gauge the feasibility of a deal. The idea would be to target a move in the summer transfer window ahead of the 2026–27 season, though Álvarez’s current valuation of around $117 million (€100 million), per Transfermarkt, represents a significant financial challenge for Barcelona.
Julian Alvarez of Atletico de Madrid celebrating.
Barcelona’s financial constraints have limited their activity in recent seasons, particularly as the club has balanced squad planning with the redevelopment of Camp Nou. However, Diario Sport reports that with the stadium nearing full capacity and the club aiming to return to La Liga’s 1:1 financial rule, Barcelona would be prepared to push aggressively for Álvarez if conditions allow.
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Alvarez and a huge drop on his level
Álvarez joined Atlético Madrid ahead of the 2024-25 season in a €75 million move from Manchester City and enjoyed his most productive campaign in terms of raw output, scoring 29 goals in 57 appearances while adding eight assists. Despite those numbers, it marked the first trophyless season of his European career, a notable contrast to his time in England.
The 2025-26 campaign has been more challenging, with Álvarez enduring one of the most prolonged scoring droughts of his career. His last La Liga goal came from the penalty spot against Sevilla on November 1, extending a nine-game league drought, while his most recent open-play goal dates back to September 27 against Real Madrid, stretching that run to 13 matches.
Overall, Álvarez has recorded 11 goals and five assists in 27 appearances this season, a clear drop-off from the previous year. Despite being a regular starter, he has completed the full 90 minutes in just four of his 19 La Liga starts, often substituted despite remaining a key figure for the Argentina national team.
That role under Diego Simeone, combined with Atlético’s struggles to firmly establish themselves as title contenders, could prompt Álvarez to reassess his future. With elite clubs circling and Barcelona actively monitoring the situation, the upcoming transfer window could prove pivotal for both player and club.
