Arsenal's £105m Alvarez Gamble That Never Was: How Gyokeres Struggles Might Have Been Avoided

Viktor Gyokeres arrived at Arsenal last summer on the back of a stunning 54-goal campaign with Sporting CP. Yet as the Gunners chase Premier League glory, the Swedish striker's form has raised uncomfortable questions about whether the club backed the wrong horse in the transfer market.

The numbers tell a curious story. Gyokeres has managed 13 goals and two assists for his new employers—hardly the output of a dud. But dig deeper into his recent Premier League performances, and the picture becomes murkier. Over his last 15 league outings, he's registered just six shots on target, converting four of them. The inference is stark: get him into dangerous positions more regularly, and the goals would flow. He simply isn't getting there often enough.

This narrative of "what if" has gained fresh oxygen thanks to claims from Spanish journalist Ruben Uria, who revealed on YouTube that Arsenal had pursued a rather different path last summer. According to Uria, the Gunners offered Julian Alvarez a five-year deal worth €12 million net annually, while simultaneously tabling a €100 million plus €20 million in add-ons package to Atletico Madrid. The Spanish club flatly rejected the approach, insisting their Argentine forward was not available.

Whether Uria's account holds water remains uncertain—no major outlets have corroborated the specifics. Still, Arsenal's documented interest in Alvarez lends the claim a ring of plausibility. And therein lies the tantalizing what-if: had Atletico Madrid accepted, might Arsenal's season be looking rather different?

Alvarez brings pedigree that Gyokeres, for all his European pedigree, has yet to prove in English football. The 24-year-old won two Premier League titles at Manchester City, accumulating 36 goals and 19 assists across just over 100 appearances. He understands the demands of English football in a way few others do.

It's precisely this proven track record that has kept Arsenal's interest alive. Recent reports suggest the north London club—alongside Manchester United—have "offers on the table" for Alvarez. More intriguingly, insiders claim Arsenal have maintained regular contact with the player's camp, with discussions centring on deal structure. Initial indications from the Emirates have apparently been positive.

However, there's a significant complication. Alvarez harbours clear preferences about his next destination. Should he depart Madrid this summer, Barcelona tops his wish list. Both Arsenal and their Premier League rivals are acutely aware of this reality, yet they're reportedly keeping the pressure on regardless—a calculated gamble that Barcelona might stumble in their pursuit, leaving the door ajar for English suitors.

For Arsenal, the calculus is straightforward: an established Premier League operator might succeed where Gyokeres has merely muddled through. Whether the Spanish champions will budge remains the defining question.