Real Madrid's attempt to sign Atletico Madrid star Julian Alvarez has ended in disappointment after their massive €150 million offer was turned down by their city rivals.
The Spanish giants confirmed the bid in an official statement on Tuesday, making public what would have been one of the biggest transfers in football history. However, Atletico decided not to negotiate and instead pointed to the Argentine striker's release clause.
Alvarez's Stellar Season
Alvarez enjoyed an excellent 2025-26 campaign, scoring 20 goals and providing nine assists in 49 appearances for Atletico. His performances had attracted interest from several top clubs, with Real Madrid making the first major move.
Real Madrid Confirm Record-Breaking Offer
In their statement, Real Madrid revealed the details of the proposal submitted after a Board of Directors meeting.
"Real Madrid CF announces that, following today's Board of Directors meeting, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarez," reads the statement.
The club added that Atletico appreciated the approach but declined to sell.
"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," the Real Madrid statement reads further.
Atletico's Social Media Response
The rejection quickly became a talking point online after Atletico Madrid appeared to mock their rivals on social media. Shortly after Real's announcement, Atletico responded with laughing emojis, a post that rapidly gained attention among football fans.
The development comes just a day after Real Madrid president Florentino Perez secured another four-year term in the club's presidential election. Before the vote, Perez had hinted that the club was preparing a €150 million move for a major signing, with many expecting a headline-grabbing transfer announcement.
Instead, Real Madrid's pursuit of Alvarez has, at least for now, ended with a public rejection and some social media banter from their neighbours.
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