Arsenal and Atletico Madrid consider player swap involving Martin Zubimendi and Julian Alvarez

Arsenal and Atletico Madrid are currently in discussions regarding a potential high-profile swap deal that would see Martin Zubimendi move to the Spanish club, while Julian Alvarez would return to the Premier League to join the London-based team. The negotiations, reported as of November 10, 2026, remain informal as both clubs look to address tactical requirements within their respective squads.

Martin Zubimendi, who joined Arsenal in the summer of 2025 for a fee of 70 million euros, has struggled for consistent playing time due to intense competition in the midfield. Conversely, Julian Alvarez has faced challenges adjusting to life in Spain, recording only two goals in 12 appearances for Atletico. His current form stands in stark contrast to his previous high-scoring seasons, prompting discussions about his future after a highly publicized transfer saga during the previous summer window.

While analysts are monitoring the situation closely, no formal agreement has been finalized between the two sides. Both clubs are evaluating if this exchange could serve as a necessary catalyst to improve their current squad performance for the remainder of the season.