Transfer expert Fabrizio Romano has provided an update on the situation, stating that Real Madrid is no longer advancing in talks with Álvarez. Barcelona, on the other hand, remains interested in the player and is in regular contact with Atlético Madrid.

However, Atlético Madrid is unwilling to negotiate the price of Álvarez, who has an astronomical release clause. This has left clubs with limited options, and some may be exploring alternative deals, including player swaps.

Atlético Madrid president Enrique Cerezo has reaffirmed his commitment to the club, stating that Álvarez is an Atlético Madrid player and will remain so unless the club's valuation is met.