Sources: Alvarez's release clause is under €150m for some clubs, including Barcelona

Reportedly, the release clause of Atletico Madrid forward Alvarez could be his way out of the club.

According to Ben Jacobs, a journalist for GiveMeSport, Alvarez's €500 million release clause is actually much more complex than it appears. It is understood that his contract when he transferred from Manchester City to Atletico Madrid in 2024 did indeed include a staggering €500 million release clause, but the clause contained special provisions: some Champions League clubs, including Barcelona, would only need to pay less than €150 million to sign Alvarez.

Alvarez himself wishes to join Barcelona, but a €100 million offer from Barcelona has already been rejected by Atletico Madrid. Atletico Madrid not only ridiculed Barcelona on social media but also insisted that the Argentine forward is not for sale. The club denies that active negotiations are underway and continues to cite the €500 million release clause.

The 26-year-old Alvarez's contract with Atletico Madrid runs until 2030, which puts the Rojiblancos in a strong negotiating position. However, when he joined from Manchester City in 2024, CEO Miguel Angel Gil and then-sporting director Andrea Berta included clauses in the contract allowing him to leave for less than the official release fee.

Atletico Madrid is angered by Barcelona's public pursuit of Alvarez and refutes claims that "negotiations are ongoing between the two clubs." However, Alvarez has made his desire to leave clear to the club, with Barcelona being his firm first choice.

In January, Berta, who is now sporting director at Arsenal, made informal inquiries, and this summer, Alvarez is a dream signing for Arsenal. Coach Arteta is determined to bolster the attacking power of the Premier League champions, and in addition to Alvarez, AFC Bournemouth's Kroupi and Aston Villa's Morgan Rogers are also alternative options.

In addition, Spanish media recently linked Real Madrid with Alvarez's transfer, and rumors are rife that Barcelona may invest transfer funds in this battle. However, when asked about Real Madrid in an interview with Mundo Deportivo, Alvarez's agent Fernando Hidalgo responded: "We know nothing about it, and no one has contacted us about it."