After Atletico Madrid publicly mocked city rivals Real Madrid after rejecting a club-record €150 million bid for Julian Alvarez, the striker has been identified as Florentino Perez’s marquee transfer target after being re-elected as club president.

Real Madrid confirmed the approach in an official statement on Tuesday, revealing that the Spanish giants had submitted a formal offer for the Argentina international. The bid, which would have been the most expensive transfer in the club’s history, was immediately rejected by Atlético.

The offer comes just days after Perez secured another term as Real Madrid president. During his election campaign, the 79-year-old promised supporters a big signing and hinted that the club would submit a big offer for a player from the leading Champions League team.

Real Madrid said Atletico had rejected the bid and pointed to Alvarez’s release clause.

“Following the meeting of the board of directors held today, Real Madrid CF has offered Club Atlético de Madrid 150 million euros for the federal rights to the player Julián Álvarez. After reviewing and evaluating the offer, Club Atlético de Madrid expresses its gratitude for the offer made within the framework of good relations between the two clubs and rejects it, citing the provision for the player’s release,” the club said in a statement.

atlético mock real

However, Atlético’s response soon went beyond formal rejection.

The club reposted Real Madrid’s statement with a series of laughing emojis on social media before issuing a strongly worded response to their city rivals.

“You may have confused education with gratitude, but there is no doubt: we do not thank you for anything. We neither study nor consider any proposal for Julian. How can we not come along, when you make us laugh more than Barcelona,” Atlético posted.

The exchange escalated when Atlético sent another message referencing Real Madrid’s recruitment of youth players from its academy.

“PS Taking advantage of the good relationship with your new President, let’s see if you stop ‘stealing’ players from our academy. Thank you very much, @realmadrid!”

The rejection is a significant blow to Perez, who had promised to bring a high-profile signature after winning Sunday’s presidential election. Speaking before the vote, Perez had hinted at an imminent move.

“On Tuesday, I’m going to make an offer for a great player to a major Champions League club. It will be the biggest transfer fee ever paid by Real Madrid in its history,” Pérez said on the Spanish television program Horizonte.

Alvarez has emerged as one of Atletico’s most important players Since joining Manchester City in 2024. The Argentine forward enjoyed a stellar first full season under Diego Simeone, scoring 20 goals in 49 appearances in all competitions and playing a key role in Atlético’s run to the Champions League semi-finals.

Reports in Spain suggest that Alvarez’s contract includes a release clause of €500 million, a figure Atlético remains committed to implementing despite growing interest from Europe’s biggest clubs. It was also reported that Barcelona had rejected a bid for the 26-year-old last week.

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