Arsenal plan January swoop for Alex Baena, NOT Julian Alvarez

Arsenal are preparing a January transfer for 25‑year‑old Alex Baena, the highly‑rated Atletico Madrid winger, while confirming they are not pursuing Julian Alvarez. Baena has contributed five goals and either two or three assists in nine appearances this season and is tied to Atletico until 2030.

Left‑wing vacancy after summer exits

The Gunners lost Leandro Trossard and Gabriel Martinelli over the summer, leaving a clear need for a left‑wing option. Only Christos Tzolis arrived to fill the role, meaning Arsenal still lack depth on that flank. Mikel Arteta has repeatedly highlighted the importance of adding attacking variety.

Back in 2024 Arsenal first identified Baena as a target before his move from Villarreal to Atletico Madrid. The club’s scouting reports say his ability to operate on either wing or in a central attacking role matches the tactical flexibility Arteta values.

Baena’s versatility and form

Baena can drift inside, cut in from the right or left, and even play further forward when required, offering Arsenal positional rotation without disrupting structure. This season he has already scored against Manchester United in the Champions League, underlining his capacity to perform on the biggest stage.

This form, combined with his experience alongside Spain internationals such as David Raya, strengthens the case for his adaptation to north London.

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Diego Simeone has stressed Baena’s importance, stating he “sees the game differently” and is “stronger and more confident since the World Cup”. The Spaniard’s comments suggest any deal will be hard‑won.

His estimated transfer value is reported at between €42.6m and €101.5m, with other reports quoting €64m or €65m. Mid‑season negotiations for a key player typically carry a premium, meaning Arsenal would need to present a substantial offer.

Arsenal have placed a £64m price tag on Swedish striker Gyokeres, a figure that could help fund a potential €120m fee for Julian Alvarez, whose price has fallen from €150m. However, Alvarez’s preferred destination remains Barcelona, complicating any dual pursuit.

The January window is notoriously brutal, and with Simeone unlikely to release a core player, Arsenal must decide whether to commit significant resources now or wait for a later opportunity. Conviction, patience and money will be essential if the Gunners hope to secure Baena.