When one of the most prestigious clubs in the world are after you, it usually proves too difficult to resist.
Alvarez’s former City team-mate Rodri said in March that “you can’t turn down the best clubs in the world” in referencing a potential move to Real, despite previously playing for Atletico.
It’s not only Real who have been looking to entice Alvarez – with suggestions yesterday’s bid was an attempt to outprice La Liga champions Barcelona, who have long been linked with a move for the player.
Last month, Atletico aimed a dig at Barca over their “smear campaign” in pursuit of Alvarez, while BBC Sport columnist Guillem Balague said talks had opened to sign the Argentine.
The flirtations have seen Barca and Spain defender Pau Cubarsi, external call Alvarez a “spectacular footballer”, a “world-class striker” and one with the “quality for Barcelona”.
Following Perez’s election victory, the 79-year-old made good on his promise but was mocked by Atletico, who turned down the offer and quoted Alvarez’s release clause of 500m euro (£430m).
In a statement, Real said: “Following the meeting of the board of directors held today, it has made an offer of 150 million euros to Club Atletico de Madrid for the federative rights of the player Julian Alvarez.
“After reviewing and evaluating the offer, Club Atletico de Madrid has expressed its gratitude for the proposal, made within the framework of the good relations between both clubs, and has rejected it, referring to the player’s release clause.”
Atletico quoted the Real Madrid statement on X alongside a series of laughing emojis, external.
In a subsequent post, they added: “You must have confused education with gratitude, but to leave no doubt: we don’t thank you for anything.
“We neither study nor consider any offer for Julian. How could we not get along, when you make us laugh even more than Barcelona does.”
Now Real are teetering on the edge of becoming a laughing stock.
Since the departure of Carlo Ancelotti at the end of last season, former midfielder Xabi Alonso lasted only 34 games, while replacement Alvaro Arbeloa managed only 21 matches.
They ended the campaign in unthinkable fashion, without winning a trophy and behind arch rivals Barcelona once again.
Perez has turned to Jose Mourinho in an attempt to turn around the fortunes of the floundering giants, who have world-class talent such as Kylian Mbappe, Vinicius Jr, Jude Bellingham and Trent Alexander-Arnold at their disposal.
Alvarez would add a work rate and unselfishness that has, at times, been seemingly missing from the current crop of Real stars.
After being rebuffed the first time, attention may now turn back to tempting the Argentine to lead the latest cast of ‘galacticos’ at the Bernabeu.