Barcelona’s pursuit of Julián Álvarez may dominate the current transfer window, yet the Catalan club had the opportunity to sign the Argentine forward for a fraction of his current value just four years ago, a decision that has come back to haunt the Camp Nou hierarchy.
According to AS, in 2022, while Álvarez was still dazzling for River Plate, his representatives offered the striker to Barcelona for approximately €20 million as he prepared to make the leap to European football. The proposal represented one of the market’s most glaring bargains, but the Blaugrana ultimately chose a different path.
A dream move that never materialised
Álvarez’s camp believed Barcelona would be the ideal destination for the then 22 year old, who harboured dreams of playing alongside Lionel Messi. His name was presented to the club’s sporting department during Joan Laporta’s presidency, with his representatives recognising the Argentine’s potential to thrive in Catalonia .
Despite acknowledging his enormous promise, Barcelona had more immediate priorities. The club invested €55 million to sign Ferran Torres from Manchester City, a deal that required creative financial manoeuvring to register the player , while also bringing Pierre Emerick Aubameyang to Camp Nou on loan to strengthen the attack .
At the time, then manager Xavi Hernández also had Ousmane Dembélé and Memphis Depay at his disposal. With attacking positions already crowded, Barcelona decided not to pursue Álvarez.
Manchester City’s decisive intervention
The same proposal presented to Laporta was also offered to Manchester City CEO Ferran Soriano. Unlike Barcelona, City acted decisively, securing the Argentine’s signature before he eventually joined Pep Guardiola’s squad in July 2022.
Although Álvarez enjoyed success at the Etihad, regular starts proved elusive with Erling Haaland established as the club’s first choice striker. After two seasons, he sought a new challenge, joining Atlético Madrid for £81.5 million in the summer of 2024 .
Full circle in Catalonia
The story has now come full circle. Barcelona, the club that once declined the opportunity to sign Álvarez for around €20 million, are now actively pursuing him as the preferred successor to Robert Lewandowski. The circumstances, however, are starkly different.
Now 26, Álvarez has established himself as one of Europe’s elite forwards. At Atlético Madrid, he has made 106 appearances, scoring 49 goals and providing 17 assists . His performances have attracted interest from across Europe, with Barcelona and Real Madrid both reportedly monitoring his situation . Atlético rejected a €150 million offer from Real Madrid earlier in June .
Inside Barcelona, there is strong belief that the Argentine would thrive under Hansi Flick. Pedri has publicly endorsed the move, stating: “I love Julián Álvarez. I hope he joins Barcelona, I hope the deal happens. He’s among the best players and we want the best at Barça” .
Álvarez has also made his intentions clear, telling BBC Sport: “I spoke with the people at [Atlético] I needed to speak with, and the best thing for everyone is a transfer. I want to fulfil my dream” .
However, reports suggest Atlético Madrid are determined to keep hold of their star and have insisted that only the player’s €500 million release clause would be enough to force a transfer . Barcelona have reportedly made an approach worth more than €100 million, but the financial gap between their offer and Atlético’s demands remains significant .
The opportunity that once slipped away has returned, but this time the cost of bringing the Argentine to Camp Nou is far greater than it was in 2022.
