According to The Athletic, the forward is keen to secure more playing time and move to a warmer climate.
However, his ambitions might be thwarted by Manchester City’s valuation of around £60 million ($77 million), plus an additional £17 million ($22 million) in future add-ons.
Atletico Madrid, who have shown strong interest in the player, disagrees with City’s demands and might withdraw if further negotiations fail to lower the asking price.
After participating in the Copa America, Alvarez has gone to Paris to compete in the Summer Olympics for Argentina, which may deter Pep Guardiola from giving him a starting role early in the 2024-25 season.
His situation is further complicated by not having had a significant break in three years due to club and international commitments.
City has previously shown a willingness to let players leave if they wish, as seen with Gabriel Jesus and Oleksandr Zinchenko moving to Arsenal.
However, they are reluctant to part with key players, who are hard to replace on short notice, posing challenges for potential buyers.
Last summer, they prevented the sales of Kyle Walker and Bernardo Silva, demonstrating their careful approach to player transfers.
City’s financial prudence with key assets is evident again. They are expected to be firm on their valuation of Alvarez, who has reportedly rejected a four-year extension offer.
This could force him to stay at Etihad as a backup to Erling Haaland for at least another year.
