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Arsenal are reportedly on the verge of signing Julian Alvarez, signalling what could be the end of Viktor Gyokeres’ time at the Emirates Stadium after just one season.

The North London side are said to be in advanced negotiations to complete a move for Julian Alvarez from Atletico Madrid.

The Gunners suffered only their fourth defeat across all competitions this season in the Carabao Cup final over the weekend but still remain in contention for silverware in three other tournaments before the campaign concludes.

Following criticism directed at several players across the pitch in Sunday’s defeat, Arsenal appear determined to address one of those areas with what could become a club-record signing.

Goalkeeper Kepa Arrizabalaga was heavily criticised for misjudging a cross that led to Nico O'Reilly’s goal, while further scrutiny was placed on Viktor Gyokeres, who struggled to hold up play when Arsenal opted for long balls towards their Swedish striker.

Despite netting 16 goals in 42 appearances this season, the 27-year-old Gyokeres has yet to fully convince in Arsenal colours. Kai Havertz, meanwhile, has proven to be a more dominant aerial and physical presence in Mikel Arteta’s tactical setup.

The club’s attacking shortcomings have reportedly prompted a move for Alvarez, according to TEAMtalk, citing “strong reports from Spanish media”.

Arsenal’s sporting director Andrea Berta, who previously played a key role in signing Gyokeres ahead of Benjamin Sesko last summer, is now believed to be leading the charge for Alvarez – a player he had previously brought to Atletico Madrid. Reports suggest that Arsenal are “close to finalising terms” for the Argentine’s return to the Premier League.

With Barcelona also eyeing the World Cup winner – ranked No.5 in FourFourTwo’s list of the world’s best strikers – as a potential successor to Robert Lewandowski, reports indicate that “the London club is offering both sporting and contractual assurances, something Barcelona cannot fully provide due to their ongoing financial constraints.”

Interestingly, Arsenal’s pursuit of Alvarez may not necessarily mean the departure of Gyokeres. FourFourTwo reports that one of Gabriel Martinelli or Leandro Trossard could instead be on their way out this summer.

Although Alvarez is primarily a centre-forward, Arteta often prefers taller players to serve as a target when Arsenal go long. Standing at 5ft 8in, Alvarez could therefore be deployed on the left wing. With Piero Hincapie potentially overlapping from full-back, Arteta might be planning a tactical shift away from the traditional touchline wingers that defined his earlier title-challenging sides.

Nevertheless, FourFourTwo notes that suggestions of a completed deal for Alvarez may be premature. While some personal terms might already be agreed, a full transfer is still some distance from being finalised.

Arsenal are continuing to refine their plans for the upcoming summer transfer window, with midfield and right-back also viewed as key areas requiring reinforcement. Although Alvarez remains a priority target in attack, he is not the only forward under consideration by Arteta and Berta.

According to Transfermarkt, Alvarez is currently valued at €90 million. Following the international break, Arsenal will resume their FA Cup campaign with a match against Southampton.