Atletico Madrid reject Real Madrid's €150m bid for Julian Alvarez

Real Madrid has had a €150 million offer for Argentina striker Julian Alvarez firmly rejected by city rivals Atletico Madrid – who pointed to the player's €500 million release clause and responded to the bid on social media with a string of laughing emojis.

The offer came directly from Real president Florentino Perez, who last week pledged to make a €150 million move for an unnamed marquee signing if re-elected to his position.

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Having retained control of the club on Sunday, Perez moved immediately and was just as swiftly rebuffed.

In a formal statement, Real Madrid confirmed the approach: "Following the meeting of the board of directors held today, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarez.

After reviewing and evaluating the offer, Club Atletico de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player's release clause."

Atletico's response was anything but diplomatic. The club quoted Real's statement on X and attached a series of laughing emojis before following up with a pointed message that made their position abundantly clear.

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"You must have confused education with gratitude, but to leave no doubt, we don't thank you for anything. We neither study nor consider any offer for Julian. How could we not get along when you make us laugh even more than Barcelona does?" Atletico wrote.

In a third post, the club added a parting shot at their rivals: "P.S. Taking advantage of the good relationship with your new president, let's see if you stop stealing players from our Academy. Thanks a lot, @realmadrid!"

Alvarez, 26, is one of the most coveted forwards in European football. The Argentina international won the 2022 FIFA World Cup with his country and spent several seasons at Manchester City before joining Atlético Madrid in an £81.5 million deal in 2024.

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He delivered an outstanding debut season in the Spanish capital, scoring 20 goals in 49 appearances as Atletico finished fourth in La Liga and reached the semi-finals of the UEFA Champions League. His form has only strengthened his status as one of the game's elite attacking talents.

With Alvarez's release clause set at a staggering €500 million, more than three times Real's offer, Atletico hold all the cards. Unless Real are prepared to dramatically increase their bid or Alvarez himself pushes for a move, the transfer looks dead in the water for now.

What is clear is that the rivalry between Madrid's two biggest clubs extends well beyond the pitch, and Atlético have made it plain they have no intention of making life easy for their neighbours, no matter how politely the offer is worded.