Real Madrid's Plan for Atletico Star Falls Through. Will They Offer More Money to Dávid Hancko's Club?

Real Madrid officially confirmed on Tuesday that they had submitted a significant offer to Atletico for the 26-year-old striker. However, the "Colchoneros" leadership immediately rejected it, citing the player's €500 million release clause.

Atletico's president, whose club also features Slovakian defender Dávid Hancko, made it clear a day later that the club has no intention of letting one of its biggest stars leave. "Julian Alvarez is not for sale. We don't want him to leave," Cerezo was quoted by Spanish media and renowned football journalist Fabrizio Romano.

Earlier in June, Cerezo had already dismissed speculation about a potential Alvarez transfer to Barcelona, stating that he would remain an Atletico player "for many more seasons." The "Blaugranas" were reportedly willing to pay €100 million.

According to reports from El Pais and other Spanish sources, the attempt to sign Alvarez was part of Real Madrid president Florentino Perez's ambitious plans following his re-election. However, Atletico has no interest in negotiating the sale of a player who joined the club in 2024 from Manchester City and scored 20 goals in all competitions last season. Real has indicated that they do not intend to offer "crazy money" or escalate the sum to exorbitant levels for Alvarez.

Real Madrid also reportedly explored the possibility of signing winger Michael Olise from Bayern Munich, but the Bavarian club considers the French international equally unsellable.