Barcelona to Submit €100m Bid for Julian Alvarez as Marcus Rashford’s Future Hangs in the Balance

Barcelona’s summer transfer activity is intensifying on multiple fronts. Having already secured the signing of Anthony Gordon from Newcastle United, the Catalan club are now preparing to submit a formal offer for Julian Alvarez — their primary attacking target — according to reports.

Transfer journalist Fabrizio Romano confirmed on 28 May 2026 that the official bid had not yet been submitted but would be sent within days. The offer will not include any player exchange components, with the final fee expected to fall in the region of €100 million once the proposal is formally lodged.

Groundwork for the move has already been laid. Barcelona sporting director Deco held a direct meeting with Alvarez’s agent earlier this week, signalling the club’s intent to secure a deal ahead of the 2026 FIFA World Cup. The 26-year-old World Cup winner has already communicated to Atletico Madrid that he wishes to leave, having rejected the Spanish club’s offer of a contract renewal. Barcelona are understood to be moving quickly, anticipating that rival clubs will also pursue the Argentine international once the window formally opens.

Alvarez joined Atletico Madrid from Manchester City in the summer of 2024 for a reported fee of around €75 million. The striker has since established himself as one of La Liga’s most influential forwards, adding to a profile that already includes a 2022 FIFA World Cup winners’ medal with Argentina.

The pursuit of Alvarez, however, casts a long shadow over the future of Marcus Rashford at Camp Nou. The England international spent the 2025-26 season on loan from Manchester United and delivered a productive campaign, registering 14 goals and 10 assists across all competitions — figures that have done little to cloud his desire to make the arrangement permanent.

Barcelona hold a buy option in Rashford’s loan agreement that allows them to sign the 28-year-old for £26 million, but that clause must be activated by 15 June 2026. According to reports, the club are reluctant to trigger the option at that price, preferring to negotiate either a second loan spell or a reduced transfer fee. Manchester United are not willing to accept either alternative and are reportedly holding firm on their demand of €30 million.

With Barcelona now channelling significant financial resources toward an Alvarez deal worth up to €100 million, allocating further budget for Rashford becomes a complex balancing act. The situation leaves the former United academy product in an uncertain position, despite a loan spell that by most measures justified extending his stay in Catalonia.

Rashford’s future has been subject to speculation since falling out of favour under former Manchester United manager Erik ten Hag during the 2024-25 season. His loan to Barcelona represented a chance to rebuild his reputation, and the numbers he produced suggest he did exactly that. Whether Barcelona can accommodate him financially alongside a marquee signing of Alvarez’s calibre remains the central question heading into the summer window.