The Argentinian is one of the most decorated footballers in the world and has already won all the major club trophies available at Manchester City.
Despite being behind Erling Haaland in the pecking order at the Etihad, the Citizens are keen to keep him.
Alvarez has been one of the top attackers on the continent for some time, consistently making the most of his limited opportunities at City to score.
Arsenal has been linked with a move for him, but the Gunners have not pursued it seriously, knowing it would be challenging to sign him.
Initially, one obstacle was Manchester City’s valuation of Alvarez at around £77 million, a fee Arsenal considered too high.
However, as Alvarez begins to contemplate leaving the Premier League champions, City appears to have lowered their asking price.
According to a report on Team Talk, they are now prepared to sell him for around £40 million, which is approximately half of the initial fee.
