Pep Guardiola blocked swap sending Julian Álvarez to Liverpool, report says
The Telegraph says Manchester City manager vetoed a 2024 swap that would have seen Álvarez and Luis Díaz exchange clubs
Pep Guardiola intervened to block a proposed swap deal in the summer of 2024 that would have sent Manchester City striker Julian Álvarez to Liverpool with Luis Díaz moving the other way, The Telegraph reported on Friday. Both players subsequently left the Premier League for other clubs: Álvarez joined Atlético Madrid and Díaz moved to Bayern Munich.
The reported proposal emerged as Liverpool, under new manager Arne Slot, sought attacking reinforcements following the departure of Jürgen Klopp in 2024. According to The Telegraph, City were open to a swap that would have taken Álvarez to Anfield with Díaz returning to the Etihad, but Guardiola vetoed the move. Álvarez left Manchester City that summer in a transfer to Atlético Madrid that was reported to be worth about £81 million, and Díaz remained at Liverpool for another season before joining Bayern in 2025 for a fee Liverpool later accepted of £65.5 million, including add-ons.
Club and agent statements on the plan were not reported; details of the discussions were described to reporters as occurring during the 2024 window when both players were believed to have uncertain futures at their respective clubs. Álvarez had fallen down the pecking order at Manchester City before his move to Spain, while Díaz’s long-term future at Liverpool became a matter for contract talks and transfer speculation.
Liverpool officials are reported to have been made aware of Díaz’s desire to leave the club in the summer of 2024 but chose to keep him for another campaign. The club later made two attempts to agree a new contract with the winger but were unable to bridge a gap between the club’s offers and Díaz’s demands. Bayern’s initial approach in 2025, reported at about £58.5 million, was rejected before the German champions returned with an improved bid that Liverpool accepted.
Díaz completed 148 appearances for Liverpool after his move from Porto in 2021, scoring 41 goals across competitions. Álvarez became Atlético’s leading scorer in his first season in Spain, netting 29 times in all competitions, figures that underscored the transfer activity involving both players across consecutive windows.
The blocked swap, as described by The Telegraph, would have been an unusual direct exchange between two of England’s biggest clubs and, if completed, might have reshaped the attacking options available to both managers ahead of the 2024–25 season. The wider transfer market in that period included several high-profile moves across Europe, with clubs frequently weighing player sales, purchases and internal competition for places.
No club has commented publicly on the reported swap being vetoed by Guardiola. The Telegraph’s account is the principal source for the claim that the Manchester City manager prevented the deal from going ahead; neither Manchester City nor Liverpool is reported to have confirmed the specifics of the negotiations.
The sequence of events — reported interest in the swap, Guardiola’s alleged veto, Álvarez’s transfer to Atlético and Díaz’s eventual move to Bayern — highlights how single decisions in transfer windows can redirect multiple careers and club plans over successive seasons.