Arsenal and Atletico Madrid consider swap deal involving Martin Zubimendi and Julian Alvarez
Arsenal and Atletico Madrid are reportedly in talks regarding a potential winter swap deal involving Martin Zubimendi and Julian Alvarez. Both players have struggled to secure consistent roles or form at their respective clubs since their high-profile transfers.
Why it matters
This deal highlights the high-stakes nature of European football transfers and the pressure on clubs to optimize their squads mid-season.
Premier League champions Arsenal and Atletico Madrid could reportedly negotiate a sensational winter swap deal. The proposed move would see midfielder Martin Zubimendi head to the Spanish capital, while forward Julian Alvarez would complete a return to English football with the Gunners.
Arsenal and Atletico Madrid could reach an agreement on a major swap deal in the upcoming winter transfer window. Spanish media outlet RNE reports that defensive midfielder Martin Zubimendi could move to the Metropolitano, with Argentina forward Julian Alvarez heading to North London.
Zubimendi arrived at the Emirates Stadium in July 2025 for a reported £55.8 million after a trophy-laden spell at Real Sociedad.
However, the Spain international has seen his first-team opportunities limited during the current campaign.
Despite featuring in every league match during Arsenal's title-winning 2025–26 campaign, Zubimendi has become a bit-part player under Mikel Arteta this term.
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