Arsenal still interested in Alvarez as Tzolis move explored

Arsenal are still interested in Atletico Madrid striker Julian Alvarez.

Sky in Italy's Luca Bendoni is reporting that initial discussions have taken place between the clubs at ownership level and the communication lines remain open.

Arsenal sporting director Andrea Berta held the same role at Atleti before moving to the Emirates last year.

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Atletico do not want to sell and there is a big gap between the clubs' valuations of the Argentina international.

It is thought Alvarez's preference is a move to Barcelona, but Arsenal continue to keep an eye on the situation.

What is the latest on Barcelona's Alvarez pursuit?

Barcelona are not giving up on signing Arsenal target Alvarez and could raise their offer after the World Cup.

President Joan Laporta says their current bid of just over £100m remains on the table - but sources in Spain are indicating they could raise that to more than £110m (€130m) plus bonuses.

The club have not yet decided whether to increase the offer but - regardless - a new Barca bid is still not expected to go down well at Atletico. With the relationship between the clubs at an all-time low, amid a public spat on social media, Atletico are almost certain to continue their stance of refusing to sell him.

Laporta believes Atletico's stance is down to the lack of an identified replacement, while Atletico CEO Miguel Gil Marin accused Barca of "disrespecting us".

"I spoke with Gil Marin. He told me they were not planning to let him go, but the offer is firm and we stand by it," Laporta said. "It remains on the table and the deal could still go through, but the offer is not open-ended. Atletico said no because they didn't have a replacement. If they get one, we will see."

Alvarez is booked to go on holiday after his World Cup campaign with Argentina comes to an end. He will then return to pre-season training with Atletico when there will almost certainly be talks with the club's hierarchy about his future.

Sky Sports News has already reported that it is Alvarez's dream to sign for Barcelona - and it is said his family want to continue living in Spain. This is one of the major obstacles the likes of Arsenal and PSG - who are also interested - must overcome if they are to attract the forward instead.

Privately, Atletico are understood to be more open to the idea of selling him to Arsenal or PSG - if Alvarez demands to leave the Metropolitano for any club.

Real Madrid announced last month that they had had a £130m (€150m) bid rejected by Atletico for Alvarez.

Tzolis move explored as Trossard replacement

Meanwhile, Arsenal remain interested in Club Brugge winger Christos Tzolis.

One source has told Sky Sports News he is one of their primary targets to replace Leandro Trossard. There is a long-standing admiration in the player at Arsenal.

It is understood the conditions of a deal have been explored but, so far, there has been no club-to-club contact.

It is thought Club Brugge would want in the region of £34m for Tzolis, which would be a Belgian Pro League record.

Trossard is joining Besiktas in Turkey for a deal worth £17m. Morgan Rogers is also of interest to Arsenal.