Updated: 8 Jun 2026 15:05 BST |
4 min read
Michael Olise is reportedly Real Madrid’s top target, with president Florentino Perez willing to pay €150 million to bring him to the Spanish capital. However, this plan may yet be subject to change.
The Los Blancos supremo has just been re-elected as the club’s president after beating businessman Enrique Riquelme in a widely publicised electoral battle.
Sweeping promises were made ahead of Sunday’s election. Riquelme came out with the far-fetched suggestion that he could sign Man City striker Erling Haaland.
Perez, meanwhile, announced last Thursday that, if re-elected, he would place a €150m bid for an unnamed player on Tuesday this week. The following day, it was revealed that the player in question would be Bayern star Olise.
The chances of this bid being successful are slim to none. Various Bayern bosses have made it clear that the France international is not for sale at any price, and the bid would also fall short of his Estimated Transfer Value (ETV), which currently stands at €170.6m.
Could Real Madrid target Alvarez instead?
With the signing of Olise unlikely, Sky Germany reporter Patrick Berger suggests Perez could shift focus and instead attempt a hugely controversial transfer.
Sky Germany has fairly reliable sources at Real Madrid, and Berger reports that the LaLiga giants have made “enquiries” for Atletico Madrid striker Julian Alvarez.
The Argentina international is understood to be keen to leave the Rojiblancos, but he would preferably remain in LaLiga. Spanish sources have downplayed suggestions that he could return to the Premier League amid interest from Arsenal.
It has been reported that Alvarez has his heart set on a move to Barcelona, but the relationship between the two clubs is strained. Atleti have been annoyed with the Blaugrana’s very public pursuit of the 26-year-old.
A transfer to Barcelona seems unlikely at this stage. The Catalans have reportedly bid €100m for him, but Atleti want around €150m to consider a sale. This tallies with the figure promised by Perez.
Of course, moving from Atleti to Real Madrid would arguably be even more controversial than going from Atleti to Barcelona. It seems doubtful that the Rojiblancos would sell their best player to Real Madrid.
There is also a major question mark over Alvarez’s suitability to Real Madrid. A pursuit of Olise makes sense because the right wing is an area where Los Blancos can strengthen.
There is no obvious vacancy for Alvarez, who can play as a No.9, a 10 and on the left. Perez has already announced that he won’t sell the under-fire Kylian Mbappe, nor does he want Vinicius Jr to leave.
Alvarez to Real Madrid appears to be a pipedream at present, but as the cliche goes: anything can happen in this crazy business.
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