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In a recent development, reports suggest that Barcelona have made their first formal move for Julian Alvarez, submitting an initial bid to Atletico Madrid for the striker.

The Catalan club’s proposal was valued at €100 million as a fixed amount, with no add-ons or player exchanges included in the offer.

However, as per journalist Gerard Romero, Atletico Madrid have swiftly rejected this proposal from Barcelona.

The Madrid-based side, known as the Rojiblancos, have declined the €100 million offer made by the La Liga champions for their star forward.

Atletico Madrid reject Barcelona’s initial proposal. (Photo by Eric Alonso/Getty Images)

Nevertheless, Atletico Madrid are reportedly open to continuing negotiations if Barcelona return with an improved offer in the region of €120 million.

This figure is believed to be manageable for Barcelona, owing to their recent improvements in financial Fair Play compliance.

Despite that, the Blaugrana had internally capped their spending on the Argentine international at €100 million. It now remains uncertain whether they are prepared to exceed that limit and raise their bid for the 26-year-old attacker.

Previous reports have already indicated that Alvarez is eager to make the switch to Barcelona this summer and has officially communicated his intention to leave Atletico Madrid for the Spotify Camp Nou.

Alvarez has informed Atletico Madrid of his wish to join Barcelona. (Photo by Fran Santiago/Getty Images)

It is also understood that personal terms have already been agreed between Alvarez and the Catalan club.

As things stand, the final obstacle in completing the transfer lies in reaching an agreement between Barcelona and Atletico Madrid regarding the transfer fee.

All sides are believed to prefer resolving the matter before the World Cup begins, in order to avoid a prolonged transfer saga throughout the summer window.