On the back of outlandish rumours that Tottenham are willing to break their transfer record on Julian Alvarez, a new report has shed light on how much the striker is expected to cost in January.

A report from El Nacional at the start of this month raised a lot of eyebrows when it claimed that Tottenham are plotting a shock £113m offer for Alvarez.

It was explained that this was after Atletico Madrid made it clear that they will not sell their star man to either Real Madrid or Barcelona.

Spurs’ fierce rivals Arsenal also hold a keen interest in the Argentina international, who has failed to impress for Diego Simeone’s side after publicly expressing a desire to leave the club in the summer.

The two North London clubs have now been informed that they may be able to get the former Man City player at a discounted price.

Tottenham target Julian Alvarez has seen his value plummet since the summer

During the summer window, Atletico reportedly rejected a €150m (£129m) offer from rivals Real Madrid for Alvarez. In fact, the Atletico CEO said that even €200m (£170m) would not be enough to sign the striker.

He said: “My position is clear, the club’s position is clear. We’ve made it known to the player, his representatives, and the president of Barcelona.

“I have absolutely no doubt that Atlético is the right place in the world for Julián, and that Julián is the perfect centre-forward for Atlético Madrid. We want to keep him.

“I recently heard the president say that the offer he made to Atlético Madrid wasn’t unlimited. My only response is that our answer is unlimited. We do not want to transfer him.

“We didn’t accept an offer of €100 million, and we won’t accept one of €150 million or even €200 million.”

However, Sport have now revealed that the 26-year-old’s value is ‘declining alarmingly’ ahead of the January window, as he has failed to score a single goal so far this term.

The report says that ‘no one is considering’ figures of over €120m (£101m) for the striker right now, and Atleti may thus benefit from accelerating his sale if they do not want to lose out on ever more funds.

Alvarez is now said to be in the process of changing his representation in order to push through a transfer in the upcoming transfer window.

The outlet claims that the striker’s preference remains to play at Camp Nou, but Barca are now simply waiting to see how things develop, and have not made a move since their failed summer approach.

Two factors are likely to prevent Spurs from signing Alvarez

Over recent weeks, it has been reported that the lack of Champions League football could prevent Alvarez from considering Tottenham as his next potential destination.

That is not the only roadblock to the deal, as it is unclear if the Lilywhites would have the financial means to pull it off, even if the Argentine agrees to come to N17.

According to some sources, Tottenham are expected to be more restrained in January after spending big in the summer, and are likely to look for value-for-money signings due to PSR restrictions.