Real Madrid make £129m bid for Julian Alvarez

Real Madrid have made a staggering bid of £129 million to sign Arsenal target Julian Alvarez this summer.

The Argentine had another fine season with Atletico Madrid with 29 goal contributions, but he is open to a bigger challenge elsewhere.

Barcelona recently made an offer worth £87m, which was immediately rejected, and Madrid have surprised everyone with a £129m bid.

Atletico have rebuffed the proposal as well. The news should be a huge blow for the Gunners, who have Alvarez as a top target for the summer.

Gunners boss Mikel Arteta is a huge admirer of the World Cup winner, but it seems the striker won't be heading out of the Madrid outfit anytime soon.

Arsenal have the funds to spend on new recruits, but it is highly unlikely that they will spend more than £129m to prise him away from Atletico.

The Gunners may have to look elsewhere to bolster their frontline. They have already been denied the chance to sign Juventus' Kenan Yildiz.