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Arsenal transfer rumours roundup: latest on Julian Alvarez and Ethan Nwaneri

Photo by Sebastian Frej/MB Media/Getty Images
Photo by Sebastian Frej/MB Media/Getty Images
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With the January transfer window nearing its close, Arsenal are balancing immediate needs with longer-term squad planning.

With Arsenal looking to find success in the second half of the season, club officials are also looking toward their long-term future.

Arsenal, Julian Alvarez, and Ethan Nwaneri remain central to discussion as Mikel Arteta and Andrea Berta assess both short-term options and future priorities.

Myles Lewis-Skelly of Arsenal takes on Julian Alvarez of Atletico during the UEFA Champions League 2025/26 League Phase MD3 match between Arsenal FC and Atletico de Madrid at Arsenal Stadium on October 21, 2025 in London, England.
Photo by David Price/Arsenal FC via Getty Images

Arsenal enter race for Julian Alvarez

According to TeamTalk, Arsenal have held discreet talks with intermediaries regarding a potential move for Atletico Madrid forward Julian Alvarez.

The Argentina international joined Atletico Madrid from Manchester City in the summer of 2024, but his long-term future in Spain is understood to be uncertain.

The interest comes amid scrutiny of Arsenal’s attacking output this season, with no player having scored more than five goals.

Julian Alvarez is viewed as a forward capable of adding consistency and versatility in the final third should a deal become viable.

Ethan Nwaneri still a ‘key part’ of future despite Marseille loan

As per football.london, Ethan Nwaneri joined Marseille on loan until the end of the season as part of a strategy to accelerate his development through regular first-team football.

The 18-year-old made an immediate impact by scoring 13 minutes into his debut for the Ligue 1 side.

There is no option to buy included in the agreement, with Arsenal retaining full control of Ethan Nwaneri’s future.

Club officials continue to view the midfielder as a key part of long-term plans despite limited senior opportunities earlier in the campaign.

Mikel Arteta and Andreas Berta unlikely to make major signing this week

Arsenal are not expected to complete any major senior signings before the January transfer deadline. Internal planning is focused on the summer window, with the current squad considered capable of competing across competitions for the remainder of the season.

Any late movement this week is more likely to involve youth recruitment or minor adjustments rather than high-profile arrivals.

As first reported by football.london, Arsenal’s approach reflects a preference for preparation and stability as the window draws to a close.