Madrid [Spain], June 10 (ANI): Real Madrid have announced that they made a 150 million euros bid for Atletico de Madrid for star forward Julian Alvarez, but the latter rejected their proposal.

In an official statement on Tuesday, Real Madrid confirmed that, following a Board of Directors meeting, the club had submitted a EUR150 million offer to Atletico Madrid for the federative rights of the Argentine footballer.

However, Atletico Madrid said it appreciated the offer but rejected it after reviewing the proposal, pointing instead to the player's release clause as the basis for its decision, said Real Madrid in their statement.

'Real Madrid CF announces that, following today's Board of Directors meeting, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarezm,' reads the statement.

'After studying and evaluating it, Atletico de Madrid has thanked the club for the offer, made within the framework of the good relations existing between both clubs, and has rejected it, referring to the player's release clause,' the Real Madrid statement reads further.

Notably, the announcement follows Florentino Perez's victory in the Real Madrid presidential election on Monday, where he secured a further four-year term in the first contested vote in two decades. Ahead of the elections, Perez had indicated plans to spend EUR150 million on an unnamed player to be unveiled on Tuesday, which would set a new club record fee, according to Reuters.

The Argentine footballer scored 20 goals and had nine assists to his name in 49 appearances for Atletico Madrid in the 2025/26 season. (ANI)