Arsenal are approaching the transfer deadline with several pieces still moving—and the tantalising possibility that Julián Álvarez could be the final one to fall into place.
There is reportedly a growing feeling within the industry that Arsenal are now the most likely destination for the Atlético Madrid forward. That does not mean a deal is agreed, or even that an acceptable offer has been submitted, but the story is beginning to feel considerably more substantial than the usual late-window speculation.
Álvarez would be a transformative signing. He can lead the line, operate behind another striker or move into wider areas. More importantly, he possesses the intelligence, aggression and technical quality required to thrive in Mikel Arteta’s football.
This is precisely the calibre of player Arsenal should pursue. Having finally won the Premier League, the club must use that success as a springboard. The objective cannot merely be to defend the title respectably. Arsenal should be attempting to establish themselves as the dominant force in England and serious contenders in Europe.
If Álvarez is genuinely attainable, this is not the moment for excessive caution.
Arsenal still exploring attacking options
The club have also made a late enquiry about Marseille winger Igor Paixão, while reports suggest Arsenal were prepared to match Liverpool’s offer for Bradley Barcola in an attempt to hijack that transfer.
Those names point towards a clear desire for greater pace and unpredictability in the attacking positions. Paixão may represent a more achievable alternative, but Álvarez would be the signing capable of changing the entire complexion of Arsenal’s forward line.
Meanwhile, Arteta is reportedly determined to prevent Cristhian Mosquera from leaving. The centre-back has attracted strong interest from Fenerbahçe and two Saudi Pro League clubs, but allowing him to depart would make little sense unless he is actively demanding an exit.
Arsenal’s defensive depth can appear excessive until the injuries begin. Then, almost overnight, a surplus becomes a crisis. Mosquera still has an important role to play across a season containing four competitions.
There will be no such future at Arsenal for Reiss Nelson. The club have officially terminated the 26-year-old’s contract, allowing him to become a free agent.
It is a melancholy conclusion to a career that once promised so much. Nelson joined Arsenal as a child, progressed through the academy and supplied several unforgettable moments—most notably that extraordinary stoppage-time winner against Bournemouth.
Nevertheless, sentiment cannot disguise the reality. He was no longer part of Arteta’s plans and needed the opportunity to rebuild his career elsewhere.
Arsenal will be criticised for receiving nothing for another academy graduate, and with some justification. Contract termination is not clever trading. It is the final acknowledgement that the club could not find a buyer prepared to inherit Nelson’s wages and limited recent playing record.
For the player, though, freedom may prove more valuable than another wasted season.
European heavyweights are coming
Arsenal have also learned the identity of their eight Champions League league-stage opponents.
For anyone still pretending to understand UEFA’s format without occasionally checking it, the basic principle is straightforward: the top eight advance directly to the round of 16, while those finishing ninth to 24th enter a seeded play-off.
Arsenal will face two opponents from each coefficient pot, with four matches at home and four away.
The headline fixture is undoubtedly Real Madrid at the Emirates. José Mourinho returning to north London in charge of Madrid is already a considerable story. Add Kylian Mbappé, Vinícius Júnior, Federico Valverde and several familiar Premier League faces, and it becomes one of the most eagerly anticipated European nights the stadium has hosted.
Madrid have begun strongly, scoring six goals in victories over Real Sociedad and Espanyol, with Mbappé contributing four. Their summer recruitment has included Bernardo Silva, Ibrahima Konaté, Marc Cucurella and Denzel Dumfries.
There will naturally be plenty of attention on Vinícius after Arsenal came close to becoming his new home. The reception he receives may depend upon precisely how that episode ended, but the greater concern will be preventing him and Mbappé from turning the Emirates into their playground.
It is an intimidating fixture, but it is also exactly the occasion Arsenal wanted when they returned to Europe’s elite. If Arteta’s team intend to win this competition, they cannot spend the season hoping to avoid its biggest clubs.
Another trip to Munich
Arsenal will travel to face Bayern Munich in what should be their most difficult away assignment.
Vincent Kompany’s side remain a ferocious attacking team featuring Harry Kane, Michael Olise and Luis Díaz. Arsenal defeated them 3–1 in last season’s league stage, but repeating that performance at the Allianz Arena will be an entirely different challenge.
Bayern’s additions of Ismael Saibari and Nathaniel Brown may not command the attention of their established stars, but both could become important players. This is a more dynamic Bayern than some of the ageing sides Arsenal encountered during their earlier European disappointments.
The history between the clubs remains unpleasant from an Arsenal perspective, but the inferiority complex should be gone. Arsenal are no longer arriving simply hoping to survive.
Dortmund bring danger, but no excuses
Borussia Dortmund will visit the Emirates after the clubs contested a surprisingly heated pre-season meeting.
Dortmund still possess significant quality through Felix Nmecha, Nico Schlotterbeck, Maxi Beier and Serhou Guirassy. Much will also depend upon whether young Greek playmaker Konstantinos Karetsas can provide the creativity they lost with the departures of Julian Brandt and Karim Adeyemi.
They are dangerous, experienced and capable of punishing a careless performance. They are also a team Arsenal should beat at home.
Finishing in the top eight will require taking maximum points from this type of fixture. Respect Dortmund, certainly, but do not turn them into something they are not.
A hostile night in Seville
Real Betis away carries a different sort of danger.
Betis scored three times against an unusually disorganised Arsenal during pre-season, although their competitive attacking form has subsequently been far less convincing. Antony, Pablo Fornals and Cucho Hernández remain their main threats, while former Tottenham prospect Troy Parrott provides another option at centre-forward.
The atmosphere in Seville will be fierce and Manuel Pellegrini is far too experienced to allow his side to approach the match naively. This has all the ingredients of one of those awkward European nights in which Arsenal dominate possession, miss opportunities and suddenly find themselves defending a one-goal lead amid deafening noise.
It is not the most glamorous game in the draw, but it may reveal more about Arsenal’s maturity than some of the headline encounters.
Giroud comes home
Olivier Giroud will return to the Emirates with Lille, providing the evening with an obvious emotional subplot.
Giroud’s Arsenal career was often underappreciated, even if his limitations also became painfully apparent during the title challenge of 2015–16. He should receive a warm welcome—before Arsenal attempt to ensure he barely touches the ball.
Lille finished third in Ligue 1 last season and reached the Europa League quarter-finals, but looked toothless when eliminated by Aston Villa. Hákon Haraldsson supplies creativity in advanced areas, while Başar Önal is an intriguing attacking addition.
The losses of experienced defenders Aïssa Mandi and Thomas Meunier may leave Lille vulnerable, particularly at the Emirates. This is another fixture from which Arsenal must collect three points if they are serious about avoiding the play-off round.
Napoli are no longer a team to fear
The trip to Napoli sounds more threatening than the recent evidence suggests.
Massimiliano Allegri’s side finished only 30th in last season’s Champions League league stage and continue to struggle for attacking fluency. They produced less than 1.0 expected goals in their league opener against Genoa and are a long way removed from the exhilarating team inspired by Victor Osimhen and Khvicha Kvaratskhelia.
Scott McTominay and Rasmus Højlund have become central figures, while Kevin De Bruyne still offers moments of exceptional quality without being capable of dominating every game as he once did.
The Stadio Diego Armando Maradona remains a difficult venue and Napoli may add another striker before Arsenal arrive. Nevertheless, this is not a vintage Napoli side. Arsenal should approach the match looking to win, not merely escape.
Sabah supply the romance
Sabah’s visit to the Emirates is the wonderful curiosity of the draw.
Founded only in 2017, the Azerbaijani champions eliminated The New Saints, KuPS, AGF and Hapoel Be’er Sheva to reach the league stage. Veljko Simić, Joy-Lance Mickels and former Plymouth full-back Tymoteusz Puchacz were instrumental in that run.
There is no need to patronise them. Reaching this stage is a magnificent achievement and their players have earned the right to walk out at the Emirates.
There is also no need to pretend Arsenal should experience serious difficulty. Anything other than a comfortable home victory would be an embarrassment.
Slavia will attack Arsenal
The final opponent is Slavia Prague, whom Arsenal must face away.
Slavia finished 34th in last season’s league stage but are not a side likely to retreat into their own penalty area. They scored 74 goals in 35 league games last season and opened the new domestic campaign with three victories by an aggregate score of 11–2.
Manager Jindřich Trpišovský generally employs an adventurous back three, with wing-backs and two attacking midfielders supporting the striker. Lukas Provod, Michal Sadílek and Tomáš Chorý bring international experience, while 22-year-old defender Ange N’Guessan has become the club’s record signing.
Their attacking approach could create an entertaining game. It should also leave spaces for Arsenal to exploit.
Arsenal should finish in the top eight
Real Madrid at home and Bayern away are formidable assignments. The other six fixtures, however, offer Arsenal a clear route into the top eight.
Dortmund and Lille should be beaten at the Emirates. Sabah absolutely must be. Arsenal should also expect to collect a healthy return from the trips to Betis, Napoli and Slavia Prague.
Five wins would place Arteta’s side in a strong position. Six would almost certainly be enough to advance automatically and avoid two unnecessary play-off matches during an already crowded season.
It is a draw containing glamour, nostalgia, unfamiliar opposition and a couple of genuine tests. There can be no complaints.
The next task is to complete the squad. Keep Mosquera, add another attacker and do everything possible to sign Álvarez.
Real Madrid and Bayern Munich will provide Arsenal with an examination of their European credentials. Landing a player of Álvarez’s quality would help ensure they arrive properly prepared.
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