Atletico Madrid have launched an audacious bid to sign Julian Alvarez from Manchester City.

The La Liga giants are offering Joao Felix to City as a makeweight in a loan deal with an option to buy the Argentine forward.

Their proposal to the Premier League champions also includes an undisclosed loan fee, according to MailOnline.

Alvarez, who is also a reported transfer target for Arsenal, Chelsea and PSG, is said to be keen on a move to Spain.

However, City value the 2022 World Cup winner at around £75million and would be seeking a further £10million in add-ons should they be forced to sell.

Pep Guardiola has made it clear he would prefer to keep the 24-year-old and has already said he’s ‘counting on him’ being at the club next season.

But the City boss did concede that ‘decisions will be made all together’ when Alvarez returns to the camp following Argentina’s Copa America success and the Olympic Games this summer.

Felix, who scored 10 goals in 44 appearances on loan at Barcelona last season, has drawn interest from City in the past.

The Portugal international also had a brief spell on loan at Chelsea in 2023, where he netted four times in 20 games.

Atletico failed in attempts to sign Alvarez earlier in the window but he’s previously said he ‘didn’t like being left out of important matches’ for City.

When Guardiola was asked if he had any update on Alvarez’s future after Man City’s 4-2 pre-season win over Chelsea, he stood firm on his intentions to keep him.

‘No news,’ he said. ‘I don’t have anything to say. He will come back. I count on him, but he said in the news that decisions will be made all together.

‘Now he has to rest and when he feels ready to come back he will come back.’

On rumours suggesting Alvarez wants to leave, Guardiola added: ‘I knew he said he will think about it.

‘Once he has finished thinking, his agent will call Txiki [Begiristain] and we will see what happens.

‘I know he wants to play important moments. But the other ones [do] too. 18, 19 players as well want to play the big games.

‘I read he wants to think about it. Okay, think about it and after that he will inform us what he wants to do.’

Alvarez told TyC Sports: ‘I heard what Guardiola said. I don’t have much to say about it. I never said anything bad.

‘I just said that I was going to think about it like I do every season to make an analysis of what happened last season, a projection of what may come.

‘I always say that I am comfortable and happy at City, which is a great club. So I didn’t say anything bad.’

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