Arsenal Considers Late Rashford Loan Amid Martinelli Exit and Álvarez Deal Issues

Arsenal are exploring a late move for Marcus Rashford as uncertainty deepens over Gabriel Martinelli’s future and talks for Julian Álvarez hit turbulence.

With the transfer window ticking down, the north London club are said to be considering a loan offer for the Manchester United forward, who naturally operates off the left – the very position Martinelli is poised to vacate.

Martinelli shock sparks scramble

Inside Arsenal, there is understood to be a degree of surprise that Martinelli is close to joining Al-Hilal in a £50 million deal without a replacement already lined up. That potential gap in Mikel Arteta’s attack has pushed the club to assess short-term solutions, with Rashford emerging as a serious option.

Rashford had looked on his way out of Old Trafford earlier in the summer. His name featured heavily in early window exit talk, only for Michael Carrick to drag him back into the Manchester United picture during pre-season. The United manager has repeatedly stressed that Rashford is part of his plans and remains a United player.

That stance complicates any late move. A deal that might have been straightforward in June now looks far more delicate.

Rashford’s situation at United

The 28-year-old spent last season on loan at Barcelona, where a purchase clause of £26 million went unused as the Catalan club opted against making the move permanent. He still has two years left on his United contract, which strengthens the Premier League club’s hand.

Carrick has spoken positively about Rashford’s reintegration, saying he has been “delighted” with the forward since his return. Rashford could even feature against Ipswich this weekend, underlining how firmly he has been brought back into the fold.

If Arsenal do decide to push for a loan, they would be challenging not only United’s stance but also the momentum of Rashford’s revival under Carrick.

Álvarez chase hits resistance

All of this unfolds against the backdrop of Arsenal’s pursuit of Julian Álvarez from Atletico Madrid. Álvarez has long been viewed as the primary attacking target, yet the deal has grown increasingly complicated.

Asked about conversations with Álvarez, Arteta cut the topic dead with a sharp “Don’t go there.” The line said enough. Arsenal want him, but they are not willing to be dragged into a saga without clear commitment from the player.

Reports suggest the club will only advance if Álvarez gives full, unequivocal backing to the move. For now, that certainty has not arrived.

Álvarez, who will miss Atletico’s match this weekend after being absent from training due to illness, has been keen on a switch to Barcelona this summer. That preference has shaped the entire market around him.

Atletico, though, have drawn a hard line.

In a strongly worded statement, the club’s Board of Directors confirmed unanimous support for the decision not to negotiate with Barcelona over Álvarez’s transfer. They stressed that Atletico are open to normal market talks, but only when conducted “in an ethical and professional manner and with respect between clubs.”

The message was blunt: in Atletico’s view, Barcelona have not met those standards. As a result, there have been no discussions and there will be no discussions with the Catalan side regarding Álvarez.

Arsenal caught between two fronts

So Arsenal stand at a crossroads. A main target who favours Barcelona and is locked behind Atletico’s refusal to engage. A long-serving United forward who has just fought his way back into favour at Old Trafford. A key winger on the brink of a £50 million exit to Saudi Arabia.

The clock is ticking. If Arsenal want a new left-sided threat before the window closes, they will have to force the issue – with Rashford, with Álvarez, or with someone else entirely.