Arsenal shift attention to Atletico winger after Alvarez stalemate

October 23, 2026Jed Dogomeo

Having failed to prise Julian Alvarez away from Atletico Madrid over the summer, Arsenal are now reportedly eyeing a different attacker from the same club for the January transfer window.

According to Team Talk, Arsenal are interested in signing Alex Baena from Atletico Madrid and could look to push for a deal before the end of the season. The report suggests the Gunners understand Atletico will not sanction a sale of Alvarez in January, prompting their focus to turn elsewhere in search of attacking reinforcements.

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Arsenal are said to continue monitoring Alvarez's situation in Madrid, but with the Spanish club standing firm on their prized asset, Baena has emerged as an alternative target who the club would reportedly like to bring in if the chance presents itself.

Why Arsenal are still shopping for attackers

Despite possessing a strong squad, Arsenal are said to retain several targets on their radar heading into January. The report also notes that the window could prove significant for players who have struggled for regular minutes this season, including Viktor Gyokeres and Martin Zubimendi, suggesting squad changes could go in both directions.

Pursuing Baena as an alternative to Alvarez would give Arteta's side another attacking option and points to a club continuing to assess multiple routes in the market rather than waiting solely on one deal that has already stalled once.

Atletico Madrid hold the cards

Any move for Baena would not be straightforward. As with the Alvarez pursuit, Atletico Madrid's willingness to negotiate will be the deciding factor in whether Arsenal's interest translates into a concrete approach.

While Baena himself may be open to a move to north London, the report stresses that the decision ultimately rests with the Spanish club, who would need convincing to part with another of their key attacking players just months after resisting Arsenal's interest in Alvarez.

Much will depend on how Arsenal choose to approach the situation in January and how receptive Atletico prove to be. For now, Baena represents a fresh name in Arsenal's search for attacking depth, with the outcome likely to hinge on negotiations between the two clubs rather than player preference alone.