Atletico's performances have caught the attention of Barcelona's top executives, who see Alvarez as a potential replacement for Robert Lewandowski. Lewandowski's contract with Barcelona is set to expire after next season, and the club is looking for a new player to take over.

However, Barcelona may face challenges in signing Alvarez. Atletico's sporting director, Carlos Bucero, stated in mid-March that the club has no intention of selling the Argentine player. Alvarez's contract with Atletico runs until 2030.