Liverpool plotted sensational Julian Alvarez swap transfer for ‘unsettled’ star

Liverpool were interested in signing Julian Alvarez before he left Manchester City for Atletico Madrid in an £81million deal and proposed swapping Luis Diaz for the striker

Liverpool suggested swapping wantaway winger Luis Diaz with Manchester City for Julian Alvarez last summer, according to reports.

Diaz left Liverpool to join Bayern Munich in a deal worth £65.5million in July, ending his two-and-a-half-year stay with the club. The Colombia international was a key part of the sides managed by Jurgen Klopp and Arne Slot, returning 41 goals and 23 assists in 148 games for the club.

The 28-year-old was a regular starter last season as Liverpool won the Premier League title in Slot’s debut campaign. But Diaz would never have lifted the trophy had he got his wish that summer, having agitated for a transfer away from Anfield.

Diaz was unsettled in the summer of 2024 and Liverpool chiefs were aware that he wanted to leave for City, who were at the time the defending Premier League champions. Reports linking Diaz with a move between the two giants emerged at the time, but quickly faded as it became clear that he would stay put.

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However, the Telegraph reports that the idea of a stunning swap deal between the two clubs was indeed floated. Diaz had his head turned by City’s interest in him, so Liverpool decided to respond by showing an interest in Alvarez.

A swap of the two players was suggested, but was quickly shot down, with City unwilling to do business with a direct rival. Diaz ended up staying at Liverpool, where he knuckled down and had the best season of his time at the club, recording 17 goals and six assists in 50 games before heading off to Bayern.

Alvarez did move last summer though, securing a big-money move from City to Atletico Madrid in August 2024. Atleti agreed to pay an initial fee of £64.4m for the striker, with a further £17.1m in potential add-ons.

He remains with the Spanish side and has continued his impressive goalscoring record, with 30 goals and eight assists in 60 appearances altogether. The 25-year-old forward was linked with a move back to the Premier League in the summer transfer window, but nothing materialised, perhaps because he is under contract until June 2030 and would command a huge fee.

Having only signed Federico Chiesa in the summer of 2024, Liverpool splashed £450m this summer, bringing in Hugo Ekitike, Alexander Isak and Florian Wirtz to bolster their attack following the departures of Diaz and Darwin Nunez and the tragic death of Diogo Jota in a car crash.

Liverpool have started the 2025/26 season with three consecutive wins in the Premier League and sit top of the table. They face Burnley when the league resumes this weekend after the international break.

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