Arsenal latest: Julian Alvarez transfer update issued as Bruno Guimaraes problem arises

Arsenal are hoping to complete some major business this summer as a European giant gives the club an update on one £130million target

Mikel Arteta is reportedly closing in on his first signing of the summer transfer window. However, it's not all good news for Arsenal after learning one of their primary targets may be deemed out of reach.

Piero Hincapie's £34.5million arrival from Bayer Leverkusen remains the club's only first-team acquisition this summer. However, the Premier League titleholders appear set to step up their recruitment amid talk of a potential record signing.

The World Cup has put a dampener on certain deals, with multiple alleged targets still active in North America ahead of the closing weekend. football.london examines the latest speculation surrounding Arsenal this week as supporters anxiously await some significant business.

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Atletico open to Alvarez sale

In encouraging news for Arsenal, reports indicate Atletico Madrid are eager to sell Julian Alvarez to any club other than Barcelona. That determination to do business with non-Catalan parties could work firmly in the Gunners' favour.

Arsenal have reportedly shifted their focus towards the Argentina forward after growing frustrated in their pursuit of PSG's Bradley Barcola. Alvarez, 26, has made no secret of his desire to depart Atletico this summer, though he is understood to have his heart set on a move to the Camp Nou.

The sole complication, however, is that Atleti are reportedly resolute in their refusal to sell to a direct rival, particularly the reigning champions of La Liga. Fabrizio Romano has suggested that stance could present an opportunity for Arsenal, though his reported £130m valuation may still pose a significant obstacle.

Furthermore, TEAMtalk reported Atletico have informed Alvarez's representatives they would be willing to sanction a move to north London. Barcelona remain his first-choice destination but that particular wish appears unlikely to be fulfilled.

Arsenal reconsider Bruno stance

One player who may not be making the switch to the Emirates Stadium this summer is Newcastle captain Bruno Guimaraes. Arteta's side have allegedly already had an offer for the Brazilian turned down this summer and were taken aback to discover precisely how much the midfielder could command.

The Telegraph has reported Arsenal are reconsidering their approach after initially being given the impression Guimaraes could be theirs for £50million. The Premier League champions were informed by intermediaries in dialogue with former co-owner Amanda Staveley that an agreement could be reached for the Magpies skipper.

Arteta remains an admirer of the Brazil playmaker and is keen to bring him to the club. Guimaraes, 28, has two years remaining on his current deal with the option of a further year, meaning Newcastle are under no pressing obligation to entertain offers.

Arsenal's most substantial bid for Guimaraes to date is reported to have been worth around £60million. However, Newcastle are holding out for considerably more and insist the full sum be paid upfront.

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