Arsenal 'finalising' Julian Alvarez deal as first summer buy, with Viktor Gyokeres replaced already: report

Arsenal are reportedly in the final stages of completing a move for Julian Alvarez of Atletico Madrid.

The Gunners endured just their fourth loss of the season in all competitions at the weekend in the Carabao Cup final, but still have hopes of winning trophies on three other fronts before the season is over.

With plenty of criticism directed at players at both ends of the pitch on Sunday, it appears as if Arsenal are looking at addressing one of those concerns with a club-record signing.

Julian Alvarez ‘already has a new team’ in Arsenal, with terms close to being finalised

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While goalkeeper Kepa Arrizabalaga came under fire for fumbling a cross onto the head of Nico O'Reilly at the weekend, there was plenty of discussion after the loss about Viktor Gyokeres' inability to hold the ball up when Arsenal went long to their Swedish striker.

Despite the 27-year-old managing 16 goals this term in 42 appearances, Gyokeres has failed to fully convince in red and white, with Kai Havertz a much stronger presence as a target man in manager Mikel Arteta's system.

The Gunners' weaknesses in attack this term have led them to Alvarez, as per TEAMtalk, who cite “strong reports in the Spanish media”.

Arsenal director Andrea Berta was a leading force in the charge to sign Gyokeres over Benjamin Sesko last summer, and having signed Alvarez at his former side, Atletico Madrid, reports now claim that Arsenal are “already close to finalising the terms” of the Argentine's return to the Premier League.

With Barcelona also interested in the World Cup winner – ranked at no.5 in FourFourTwo's list of the best strikers in the world right now – to replace the ageing Robert Lewandowski at Camp Nou, the report adds that, “the London club offers him both sporting and contractual guarantees, something that isn’t entirely assured at Barça due to the financial constraints that continue to affect their planning”.

Intriguingly, though, it may be that the Gunners aren't looking to replace Gyokeres at all – with FourFourTwo understanding that one of Gabriel Martinelli or Leandro Trossard is likely to leave this summer.

While Alvarez is nominally a centre-forward, Arteta prefers taller players to act as a pressure valve when his side goes route one, meaning that the 5ft 8in Alvarez may well be brought in on the left-wing – and with Piero Hincapie overlapping from full-back, it could well be Arteta is moving away from touchline wingers that defined his first three title challenges.

FourFourTwo understands, however, that ideas that Arsenal have finalised a move for Alvarez may be a little premature, with basic personal terms perhaps agreed, but a full transfer still way off being completed just yet.

The club are still in the process of shaping plans for their summer transfer window, with midfield and right-back thought to be areas for improvement – and though Alvarez is certainly a target in attack, he far from the only player that Arteta and Berta are looking at for a move this summer.

Transfermarkt values Alvarez at €90 million. Arsenal are back in FA Cup action after the international break, as they take on Southampton.