Real Madrid's €150 Million Offer for Julian Alvarez Rejected by Atletico Madrid

Madrid. Spanish club Real Madrid's big offer of 150 million Euros for Argentine forward Julian Alvarez of urban rival Atletico Madrid has been rejected. Real Madrid President Florentino Perez had promised to make a 150 million Euro offer for an unnamed 'Galactico' player if he was re-elected as president last week. After successfully maintaining his dominance in the elections held on Sunday, Perez fulfilled his promise and made a formal offer for 26-year-old striker Alvarez. However, Atletico Madrid directly rejected Real's offer, stating that Alvarez's release clause is 500 million Euros.

Real Madrid issued a statement stating that after a meeting of the Board of Directors, the club had received a 150 million Euro offer for the professional rights of Atletico Madrid player Julian Alvarez. Real added in its statement, 'After reviewing and evaluating the offer, the club Atletico de Madrid, while expressing gratitude for this offer made within the scope of good relations between both clubs, has rejected it based on the player's release clause.'