According to reports from Spanish outlet El Nacional, Argentine striker Julian Alvarez is not happy playing second fiddle to Erling Haaland in attack and therefore wants a move away from Etihad. Real Madrid would be willing to take the World Cup winner and have put up wantaway Brazilian star Rodrygo as part of a potential swap proposal.
Alvarez, who made his move to Etihad in a £14.1million ($18m) deal from River Plate, has publicly expressed his discontent over Pep Guardiola's hesitation to start him in high-profile games like the Champions League final and FA Cup final.
The 24-year-old has established himself as a prolific goal scorer for Manchester City, netting 20 times in just 44 Premier League starts despite often being deployed in a midfield role by manager Pep Guardiola. His two seasons at the Etihad have been marked by consecutive league titles, as well as Champions League and FA Cup triumphs.
However, Alvarez knows very well that Erling Haaland remains City's go-to striker option. His recent bombshell interview has not been well-received in Manchester, with Guardiola reiterating his policy of allowing unhappy players to leave the club.
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As a result, several top European clubs have expressed interest in acquiring Alvarez's services, including Chelsea, Paris Saint-Germain, and Atletico Madrid.
However, City's reported asking price of £80 million ($102m), including add-ons, for the Argentine World Cup winner may prove too high for any potential suitor to match.
That said, a swap deal with a similarly highly-rated player could yet be feasible, with the above report stating Real Madrid could be open to a potential player swap deal with Manchester City that involves Alvarez and Rodrygo Goes.
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It is believed that Pep Guardiola is a keen admirer of the Brazilian international, who may struggle for playing time this season, particularly following Kylian Mbappe's high-profile arrival from PSG. The 23-year-old has previously indicated a desire to leave, and it remains uncertain whether he will once again seek a transfer.
Although they remain open to the idea, Los Blancos are not actively pushing for a swap between Rodrygo and Alvarez, as the potential deal hinges on whether City can facilitate the Argentine international's departure from the club.