The president of Argentinos Juniors, Cristian Malaspina, confirmed an offer from River Plate for Francisco Álvarez was rejected because the payment terms were over three years. Malaspina stated that they had a problem with Francisco Álvarez, but the player understood he had to stay because of the offer's payment structure. The president also described River Plate's offer as inviable and said that it was not sufficient due to the payment terms. Malaspina indicated a future transfer is possible if River Plate meets the conditions of Argentinos Juniors.

An offer of three million dollars for 50% of Francisco Álvarez's rights has been made by River Plate, according to TYC. Argentinos Juniors was inflexible and wants six million dollars for 70%. The parties hope to reach an agreement during the week. The transfer market in Argentina closes on Wednesday, September 2, but River Plate was granted a ten-day extension to sign players registered in AFA due to the serious injury of Giorgio Constantini.

According to César Luis Merlo, Argentinos Juniors rejected an offer from River for Francisco Álvarez. The offer was for USD 3 million net of taxes. Argentinos Juniors want USD 6 million net for 80%.

TYC provides an update on the transfer situation of 26-year-old Argentine defender Francisco Álvarez. River Plate has initiated contact with Argentinos Juniors to inquire about their demands for the player, competing for him with rival club Boca, which has also been interested in him for some time. The discussions are currently informal, as neither of the major Argentine clubs has submitted a formal offer. For River Plate, the possibility of these talks advancing to formal negotiations is partly connected to the potential departure of Lucas Martínez Quarta. River Plate believes a transfer for Álvarez could be finalized for a sum around five million dollars. Álvarez joined Argentinos Juniors in January 2024 and has a contract until the end of 2029. In the 2025/2026 domestic league season, he has scored 3 goals in 24 appearances and has previously received 2 caps for the Argentina U20 national team. According to Transfermarkt, his current market value is €4.50m.