Real Madrid confirm club-record €150m bid for Julian Alvarez has been rejected – with the identity of Florentino Perez’s ‘mystery Galactico’ transfer target being revealed


Despite identifying their prime target, Los Blancos face significant obstacles. It was initially thought that the Argentine forward possessed a €500m (£431m/$577m) release clause in his Atletico contract. However, reports indicate his deal contains provisions for certain Champions League sides, potentially allowing them to secure his services for closer to €150m.

Real Madrid are not the only European powerhouse chasing the prolific attacker, as Barcelona reportedly saw a €100m bid rejected just last week. Meanwhile, the Santiago Bernabeu outfit have also confirmed the departure of first-team coach Alvaro Arbeloa. They released a separate statement expressing their gratitude to the manager, which subsequently paves the way for Jose Mourinho to make a sensational return.

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