Arsenal and Atletico Madrid could reportedly negotiate a winter swap involving Martin Zubimendi and Julian Alvarez. Spanish media outlet RNE reports that Zubimendi could move to Atletico Madrid in the winter transfer window, with Alvarez heading to Arsenal.
The proposed winter move
Silvia Barba, RNE's sports director, said: “Back in the summer, Zubimendi could have left Arsenal, and there was even talk of Real Madrid. He could join Atletico Madrid in the winter transfer window as an alternative to Julian.”
Zubimendi's Arsenal role
Zubimendi arrived at Arsenal in July 2025 for a reported £55.8 million after a spell at Real Sociedad. He has amassed just 100 minutes of Premier League action without a single start this term.
Alvarez's Atletico situation
Alvarez moved from Manchester City to Atletico Madrid for €95 million in August 2024. He scored 20 goals in 49 matches across all competitions last term and has managed just two goals in 12 appearances for Atletico Madrid.
GOAL reports that Alvarez made his desire to leave Atletico clear over the summer after a potential move to Barcelona failed to materialise. Barba added regarding the forward's situation: “Arsenal like Julian, who is still clearly not fit. The relationship between Atletico Madrid and Julian isn't working.”
