According to a recent report by Santi Ovalle, a reporter for Cadena SER, Atletico Madrid had told Barcelona that they were asking for €200 million for Alvarez, and the player is now closer to renewing his contract.
Reports indicate that when Barcelona inquired about Alvarez, Atletico Madrid stated their asking price was €200 million, which indeed deterred Laporta from signing the Argentine striker, as Alvarez's contract with Atletico includes a €480 million release clause.
Furthermore, shortly after Alvarez joined Atletico, Paris Saint-Germain offered double the amount Atletico paid to sign him. Currently, it seems he is closer to renewing his contract with Atletico than going anywhere else.