There are reports circling claiming that Arsenal have beaten Palermo to the signature of Ricardo Alvarez.
The left-footed attacking midfielder, currently at Velez Sarsfield in Argentina, has reportedly signed for the Gunners, even the players wikipedia page has stated Arsenal as his new club as of 24 June 2011. The Argentinian looked set to be part of a tug-of-war match between Palermo and Arsenal, however Zamparini (Palermo President) has now conceded defeat in the race and claimed that the highly-rated 23-year-old is on his way to England as he was set to enter his final year of his contract at Velez Sarsfield.
“We did have a concrete bid for Alvarez and had him in our grasp back in January,” he told Radio Kiss Kiss. “Unfortunately, we didn’t complete the move in time, so we lost him to Arsenal. “At this moment he has already signed for the Gunners.”
I wouldn’t believe this to be true until it’s unveiled on the official Arsenal website, but its looking promising as its a typical Wenger signing: cheap, young and unheard of.