Atletico gives Alvarez Sunday deadline: Arsenal move or stay put

The Spanish side have repeatedly made clear, both publicly and privately, that a Barcelona transfer will not happen. Alvarez is reported to be struggling with the impasse and remains confused by his situation, according to Atletico CEO Miguel Angel Gil Marin, who told Sky Sports on Friday that the forward had been "misled" by others.

Arsenal, meanwhile, are unconvinced. As of Thursday, the Premier League champions maintain it is unlikely Alvarez will join them and won't pursue negotiations unless he shows genuine interest in joining Mikel Arteta's plans.

The player will miss Atletico's clash with Sevilla this weekend after failing to train for three days. Those close to the Spanish clubs believe prolonged uncertainty may simply result in Alvarez remaining put.

Football analyst Tim Vickery suggested on Sky Sports News that Arsenal could represent a "fantastic narrative" for Alvarez, even as a potential stepping stone to Barcelona later. However, he acknowledged limited options exist for the striker outside Spain's elite clubs or England's top flight, where Vickery notes Alvarez was not entirely content during his previous spell.

Atletico's stance reflects reluctance to sell to either Barcelona or Real Madrid—leaving the Premier League as realistic territory if the player departs.