Julian Alvarez has agreed personal terms with FC Barcelona on a five-year contract running until June 2031, according to reports emerging in late May and early June 2026. The deal, structured around a fixed transfer fee of €120 million plus up to €30 million in performance-related add-ons, now requires Barcelona to convince Atletico Madrid to actually sell.
What the deal looks like
Alvarez’s agreement with Barcelona covers a reported annual salary of approximately €18.5 million, placing him firmly among the top earners at the Catalan club. The total transfer cost sits in a range between €120 million and €135 million depending on how the variable fees are structured.
For context: Atletico Madrid inserted a €500 million release clause into Alvarez’s contract, which runs until June 2030. Barcelona has no intention of triggering that clause. The plan is to negotiate directly with Atletico, pitching the €120 million fixed fee as a reasonable opening position.
The player himself has reportedly made his preference clear, choosing Barcelona over other serious suitors including Arsenal and PSG.
