According to a report by FootballTransfers on Thursday, October 22, 2026, Arsenal have revived their interest in Atletico Madrid winger Alex Baena ahead of the January transfer window, with manager Mikel Arteta keen to strengthen his attacking options.

The Gunners are reportedly considering a January move for the Spain international, who has impressed with his performances since the beginning of the season.

Arsenal previously explored the possibility of signing an attacking midfielder during the summer transfer window and were prepared to make a significant investment in Real Madrid forward Vinicius Junior. However, they eventually added Christos Tzolis to Arteta’s squad.

Despite making an impressive start to their Premier League title defence and Champions League campaign, Arsenal remain determined to strengthen their squad as they pursue major honours this season.

Baena is not a new name on Arsenal’s recruitment list, having attracted the club’s interest in 2024 before leaving Villarreal for Atletico Madrid. At the time, he was considered a potential option for a role similar to Bukayo Saka’s on the right flank.

The 25-year-old has enjoyed a productive start to the current campaign, recording five goals and three assists across all competitions for Diego Simeone’s side.

His performances have further strengthened his reputation as one of Europe’s most productive attacking players.

Simeone has also praised Baena’s development since the World Cup, highlighting the improvement in his confidence and performances in recent months.

"Baena sees the game differently than others; he’s stronger and more confident since the World Cup," the Argentine explained.

"He’s the player we went out to sign. We’ll have to manage his playing time so that his unique qualities can shine through."

Baena’s versatility could make him an attractive option for Arteta and Arsenal sporting director Andrea Berta. Although primarily a winger, he can also operate in central midfield and as a centre-forward, offering the Gunners additional options across their attacking line.

His familiarity with Spain teammates David Raya, Martin Zubimendi and Mikel Merino could also help him settle quickly if a transfer to the Emirates Stadium materialises.

However, securing his signature could prove difficult, as Atletico Madrid have demonstrated their determination to retain key players. The Spanish club showed this stance during the summer by resisting interest in Julian Alvarez.

Baena has an estimated transfer value of €42.6 million, but Atletico could demand a considerably higher fee, particularly if Arsenal pursue a deal during the January transfer window.