Barcelona made the first approach in May, when reports indicated that negotiations had begun over a possible deal for Alvarez.
However, continuing a familiar trend, Atletico firmly stated that they had no intention of allowing Alvarez to join Barcelona.
That month, the Madrid club published several sharp social media posts ridiculing Barcelona’s pursuit of the forward and claimed they were being targeted by a “smear campaign”.
Alvarez travelled to the World Cup with Argentina while speculation about his next move remained a major subject of discussion.
In June, Atletico’s local rivals Real Madrid entered the race with another substantial proposal.
Real submitted a €150m (£130m) bid after club president Florentino Perez had pledged to pursue an unnamed star for that amount if he secured re-election.
Atletico turned down the proposal. Real subsequently referred to the player’s €500m (£430m) release clause and claimed that Atletico had thanked them for their approach.
Atletico once more replied through light-hearted social media messages, rejecting the suggestion that they had expressed gratitude and reiterating that Alvarez was unavailable for transfer.
Following Argentina’s victory against Austria in June, Alvarez said he had held talks with Atletico and believed a move would be the most suitable outcome for all parties. He also expressed his desire to achieve his dream.
His remarks made it clear that, although Atletico continued to insist he was not on the market, Alvarez was willing to consider a departure. Barcelona and Paris St-Germain were reportedly among his potential destinations.
Barcelona viewed Alvarez as a possible long-term replacement for Robert Lewandowski following the striker’s departure during the summer.
Nevertheless, Atletico continued to oppose a sale. Chief executive Miguel Angel Gil Marin declared that the club would refuse to let Alvarez leave even if they received an offer worth €200m (£170.8m).
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