Julián Alvarez has his next destination clear: Budapest

Q: What is Julián Alvarez's current contract situation with Atlético Madrid?

Julián Alvarez has four years left on his contract with Atlético Madrid, which includes a €500 million release clause for Spanish clubs.

Q: Why is Julián Alvarez linked to a move to Barcelona?

Speculation about Julián Alvarez moving to Barcelona stems from media narratives and the desire of Barcelona's president, Joan Laporta, despite Alvarez's commitment to Atlético Madrid.

Q: How has Julián Alvarez performed in the Champions League this season?

This season, Julián Alvarez has scored nine goals in the Champions League, the most ever by an Atlético player in a single campaign.

Q: What are the implications of Julián Alvarez's release clause?

Alvarez's release clause is €500 million for Spanish clubs and €150 million for foreign clubs, making him one of the most valuable players in football history.

SEVILLE, SPAIN - APRIL 18: Julian Alvarez of Atletico de Madrid celebrates scoring his team's second goal during the Copa Del Rey Final match between Real Sociedad and Atletico de Madrid at Estadio de La Cartuja on April 18, 2026 in Seville, Spain. (Photo by Fran Santiago/Getty Images) | Getty Images The front page of Marca on Tuesday morning served as notice to the unaware — including those living in Spain and working in the nation’s sports media — that there is a Spanish semifinalist in this season’s UEFA Champions League. “We want to make our own history,” trumpeted Marca’s portada, the quote taken from Julián Alvarez’s media availability at Atlético’s media day on Monday. Sprinkled in between queries about Alvarez’s playing future — which many weirdly believe will be in Barcelona from this summer — La Araña revealed that he is at 100 percent (or as close to it as he can be) entering Atlético de Madrid’s season-deciding Champions League semifinal tie against Arsenal, another team to whom the star striker has been bizarrely linked. It was only 20 months ago when Atlético stunned many observers (including me) by pulling off a €75 million transfer for Alvarez, who had played just two seasons at and was not thought to be agitating for a move. But move he did, and once in Madrid, he landed in a dressing room full of Spanish-speakers and Argentina teammates. Alvarez ended his debut season in Spain with 29 goals, including seven in the Champions League as Atleti bowed out in the round of 16. This season, Alvarez’s form in LaLiga has dropped off considerably; a lengthy scoring drought and prioritization of other competitions means he’s scored just eight goals in the league. But he’s scored nine in the Champions League, the most an Atleti player has ever accrued in a single campaign. He generated five of the seven goals that Atleti scored against in the round of 16, and his free kick in the first leg of the quarterfinals at is one of this season’s best moments. Once Atleti held off Barça to reach a first Champions League semifinal in nine years, the palace intrigue and fanciful speculation over Alvarez’s future reached a fever pitch. The media remains in thrall of a narrative that has precious little behind it other than the of Barcelona president Joan Laporta; perhaps Atlético need to review just who is granted press credentials and who can ask questions in press conferences, because the people continuing to harangue Alvarez about his “next destination” don’t care about the club or even the player himself. It is scarcely worth reminding some of these vultures that Alvarez has another four years left on his contract as well as a €500 million release clause for Spanish clubs; the figure drops to €150 million for foreign clubs, which still would be the third-most expensive transfer in football history. Alvarez agreed to such terms because he knew what he was getting into: he wanted to be *the* player bringing finals and titles to his next club. He wanted to be the face of a long-term project, which Atleti are building after Apollo Sports Capital took formal control of the club last month. Alvarez’s first final, at La Cartuja against Real Sociedad, ended in disappointment 10 days ago. Even as he produced one of his finest individual performances for Atlético, Alvarez missed his penalty in the shootout as Atleti suffered a shock defeat to La Real in that . But you can’t lose a final if you don’t get to one in the first place; Atleti had eliminated Barcelona on the road to Sevilla, and a first Copa final for 13 years. Alvarez had assisted one goal before scoring another as the Rojiblancos the Blaugrana in the first leg of the semifinal. This is why Alvarez signed for Atlético. One party had what the other craved: Alvarez’s personal ambition demanded that he put his stamp on a club as its flagship player, and Atleti had to change the chip after a few barren years in order to fight for titles again. True, it’s possible that in a week’s time, the Rojiblancos’ run of seasons without a trophy will extend to six seasons; Atleti are heavy underdogs against Premier League-leading Arsenal, and Diego Simeone’s side certainly will not be favored against the winner of PSG-Bayern Munich at Puskás Arena in Budapest on May 30. Usually, the margins in top-level football are thin. There always have to be losers. But less than 36 hours before 70,000-plus fans gather at the Metropolitano for the biggest game in the nine-year-old stadium’s history, Atlético’s players aren’t talking about the weighing them down, or slamming down upon them. They’re talking about achieving what this club never has achieved before: conquering the Champions League. And in Julián Alvarez, Atlético de Madrid have a player who can take them to the promised land.