Alvarez left with two options: Atletico or Arsenal

Julian Alvarez is holding out for a move to Barcelona, but Atletico Madrid are standing firm on the refusal to sell to their LaLiga rivals; Atletico football expert Ruben Uría believes the only way out for Alvarez is to join Premier League champions Arsenal

Julian Alvarez must take one of two paths before the transfer deadline: stay at Atletico Madrid and try to rebuild his connection with the fans or get his head around a potential move to Arsenal.

Atletico have told him again that they will not sell him to Barcelona and that - coupled with the reaction of the club's supporters on Sunday - has left him "devastated", according to well-placed sources in Spain.

The situation is now "extremely tense", according to Atletico expert and journalist Ruben Uría.

"Neither Miguel Gil Marín (CEO of Atlético Madrid) nor the Apollo board want to sell the player to Barcelona," he told Sky Sports News . "The entire Apollo board supports Gil Marín's decision. Alvarez has been told."

According to Uría, Arsenal sporting director Andrea Berta has remained in contact with his former Atletico employers in recent days after Alvarez was booed off by supporters in the opening LaLiga game against Villarreal.

But Arsenal will need Alvarez to put Barcelona out of his mind and show he really wants to join Mikel Arteta's project before any serious negotiations or any offers can be made. In that vein, Arsenal are not currently hopeful of getting him in before September 1 and they are certainly not currently expecting it at the Emirates.

Alvarez still has his heart set on Barcelona. The question is, will this be the case as the transfer window comes to an end? Will the deadline have any effect? Arsenal will always be ready and open to Alvarez should he change his mind but, at the moment, any move looks very unlikely.

If Alvarez shifts his thinking before the end and pushes for an escape, Atletico are believed to be ready to listen to offers of around £130m (€150m) from Arsenal. Indeed, according to Uría, some people around the Argentine think it is increasingly impossible for him to stay at Atletico given the current atmosphere.

Should Arsenal complete a deal for Alvarez, it would be the 10th £100m+ signing in Premier League history.

It would also be the fourth this summer, after Morgan Rogers ' switch to Chelsea, Elliot Anderson 's move to Manchester City and Sandro Tonali joining Tottenham.

Uría also told Sky Sports News : "Julian and his agent believe that everything that's happening is the fault of Gil Marín, Atletico Madrid's CEO, who publicly asked them to say they wanted to leave Atletico.

"For their part, Atletico Madrid argues that Julian already knew how Atletico played under Diego Simeone when he signed for the club, that he knew what contract he was signing and what its clause was, and they deny that Atletico told him he could leave for a direct rival.

"We are waiting to see how events unfold regarding Julian, waiting to see how Arsenal reacts, and if they have genuine interest in the Argentina player. Atletico Madrid will not sell to Barcelona.