Julian Alvarez: Real Madrid announce £129m bid for Atletico Madrid forward has been rejected amid Barcelona interest

Real Madrid have confirmed a £129m (€150m) bid for Atletico Madrid forward Julian Alvarez has been rejected.

Florentino Perez promised that the club would attempt to sign a €150m player if he was re-elected as club president.

Perez was announced as the winner in the early hours of Monday morning, and in a statement released on the club's website on Tuesday, they revealed that the attempt had fallen short despite the "good relations" between both clubs, with Atleti citing the Argentine's €500m release clause.

The statement said: "Real Madrid C. F. announces that, following the meeting of the Board of Directors held today, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarez.

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"After reviewing and evaluating the offer, Club Atletico de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player's release clause."

Atletico have since posted on X, formerly Twitter, mocking their local rivals, while also stating they would not consider any offer for their striker.

"You must have confused education with gratitude, but to leave no doubt: we don't thank you for anything," the club said.

"We neither study nor consider any offer for Julian. How could we not get along when you make us laugh even more than Barcelona."

A similar situation unfolded in May when Barcelona were linked with a move for the Argentina striker.

Atletico accused Barcelona of running a "smear campaign" and "fake news" over their attempts to sign the player.

The club then posted parody posts of Barcelona stars Lamine Yamal, Pedri and Raphinha in Atletico shirts.

Perez's 'galactico' promise to fans

Before being re-elected as club president, Perez promised supporters that he would make an offer for a 'galactico' immediately after retaining his position.

His claim came after his challenge, Enrique Riquelme, promised to sign Erling Haaland if elected. He went as far as to showcase a shirt with the player's name on the back, leading the Premier League club to consider taking legal action.

There was some speculation that Perez's target would be Michael Olise, but this idea was shot down by Bayern Munich president Herbert Hainer was insisted the Frenchman was not for sale.

Speaking to Spanish TV station Horizonte, the 79-year-old said: "On Tuesday or so, I'm going to make an offer to a major Champions League club for a great player. It would be the largest transfer fee Real Madrid has ever paid in its history."

"Olise is a great player but it's not Olise. It's not [Jeremy] Doku either.

"We're going to make a significant offer, at least around €150m. He needs to be a player from midfield who can go forward. And it's not Haaland.

"The player is not from the Premier League. And the first thing we'll do is talk to the club. It's a signing meant to generate excitement because that's what it's all about, generating excitement."

Perez's re-election is also set to be the trigger to confirm the re-appointment of Jose Mourinho as manager, with it being confirmed that interim boss Alvaro Arbeloa will leave the club.

The signings of Ibrahima Konate and Denzel Dumfries are also set to be announced.

(c) Sky Sports 2026: Julian Alvarez: Real Madrid announce £129m bid for Atletico Madrid forward has been rejected amid Barcelona interest