Julian Alvarez is already a Uefa Champions League winner from his time at Manchester City. Getty Images
Julian Alvarez is already a Uefa Champions League winner from his time at Manchester City. Getty Images
Julian Alvarez is already a Uefa Champions League winner from his time at Manchester City. Getty Images
Julian Alvarez is already a Uefa Champions League winner from his time at Manchester City. Getty Images

Atletico Madrid pin hopes on Julian Alvarez to break Real Madrid Champions League hex


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Atletico Madrid are pinning their hopes on star striker Julian Alvarez as the player to finally break Real Madrid's spell over them in European competition.

The Argentina striker has become key to Atletico's attack since arriving from Manchester City last summer and will lead the line for them on Tuesday at the Bernabeu in the Uefa Champions League last 16.

It is a tie that Atletico dread the most. Given their record against their neighbours in the Uefa Champions League, it's easy to see why.

Atletico have reached three Champions League finals and lost every time, including against Real Madrid in 2014 and 2016. They were hammered 4-0 by Bayern Munich in a replay in their other European Cup final in 1974.

Those agonising defeats against Real, the first in extra-time and the second on penalties, were compounded by Los Blancos wins in the 2015 quarter-finals and 2017 semi-finals.

The only other occasion they have met in the competition was in 1959, when after an aggregate semi-final draw the tie went to a play-off. Real Madrid won that one as well, and went on to lift a fourth consecutive European Cup.

Their dominance in the competition has held until this day, with Carlo Ancelotti's side record 15-time winners and the current holders. Real have won the Champions League twice in the past three seasons.

Diego Simeone's Atletico team were ousted by Borussia Dortmund in last year's quarter-finals, one of the low points of a miserable campaign.

Sensing the need to rejuvanate his attacking options, Simeone gave his blessing to Atletico signing Alvarez for €85 million in the hope that the 25-year-old forward would become the cornerstone of their side.

"He has everything a player needs to play for Atletico Madrid, and for many years to come," said Simeone after Alvarez struck twice to help them beat German champions Bayer Leverkusen in the Champions League group phase.

Alvarez has nine goals in his past 13 matches across competitions, and 21 strikes in 40 games in total.

Julian Alvarez came off the bench to score Atletico's only goal in a win over Athletic Club at Metropolitano Stadium on March 1, 2025. AFP
Julian Alvarez came off the bench to score Atletico's only goal in a win over Athletic Club at Metropolitano Stadium on March 1, 2025. AFP

The striker kept his nerve to net an ice-cold Panenka penalty against Real Madrid in a 1-1 La Liga derby draw in February at the Bernabeu.

Alvarez has quickly formed a bond on the pitch with Atletico talisman Antoine Griezmann. Alvarez came off the bench to send Atletico top of La Liga on Saturday with the only goal in a 1-0 victory against Athletic Bilbao, although Barcelona moved back clear of the Rojiblancos on Sunday by a point.

"When we learned that it was confirmed, his arrival, it made us very happy, very happy indeed," said Simeone at the weekend.

"[That's] because a different calibre player was coming, like in his day, Luis Suarez.

"They are special players, they have a talent, they have something others don't, like when [David] Villa came, players who can make the difference."

Alvarez's importance on the pitch cannot be overstated; the Argentine's sharp finishing, mobility, ability to link the play and high work-rate mark him out as an impressive teammate and a player able to decide matches.

Though his move from Manchester City last summer did not cause too many tremors, it is being keenly felt by the English champions this season as they are of of the Champions League and well off the pace in defence of their Premier League title.

"Every move he gets involved in, he improves," said impressed Athletic striker Inaki Williams.

Simeone requires great intensity from his players, with those who don't sweat for the club badge not lasting long at Atletico.

Despite arriving as a World Cup winner with Argentina and a Champions League and double Premier League winner with City, Alvarez has shown no airs and graces.

His dedication to what Simeone demands of him makes him already seems a better fit than the one more expensive player in the club's history: Joao Felix.

The Portuguese striker flopped at the Metropolitano and was sold to Chelsea last summer.

"[Alvarez] is a guy who won everything and he's the one who runs the most, you look at him and admire him," said Atletico defender Jose Gimenez.

"He is an example for all of us, from the youngest to the oldest."

The forward has a point of his own to prove too, after Pep Guardiola left him on the bench during City's 2023 Champions League final win over Inter Milan.

"I didn't get to play in the Champions League final, I didn't play much in the semi-finals," Alvarez told Argentine news site Infobae.

"Something inside me told me that I needed a different challenge, to look for something new."

Alvarez has found that with Atletico and aims to give the Rojiblancos a new experience against Real Madrid in Europe too.

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One in nine do not have enough to eat

Created in 1961, the World Food Programme is pledged to fight hunger worldwide as well as providing emergency food assistance in a crisis.

One of the organisation’s goals is the Zero Hunger Pledge, adopted by the international community in 2015 as one of the 17 Sustainable Goals for Sustainable Development, to end world hunger by 2030.

The WFP, a branch of the United Nations, is funded by voluntary donations from governments, businesses and private donations.

Almost two thirds of its operations currently take place in conflict zones, where it is calculated that people are more than three times likely to suffer from malnutrition than in peaceful countries.

It is currently estimated that one in nine people globally do not have enough to eat.

On any one day, the WFP estimates that it has 5,000 lorries, 20 ships and 70 aircraft on the move.

Outside emergencies, the WFP provides school meals to up to 25 million children in 63 countries, while working with communities to improve nutrition. Where possible, it buys supplies from developing countries to cut down transport cost and boost local economies.

 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

The burning issue

The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.

Read part three: the age of the electric vehicle begins

Read part two: how climate change drove the race for an alternative 

Read part one: how cars came to the UAE

PSA DUBAI WORLD SERIES FINALS LINE-UP

Men’s:
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Ali Farag (EGY)
Simon Rosner (GER)
Tarek Momen (EGY)
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Gregory Gaultier (FRA)
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Women's:
Nour El Sherbini (EGY)
Raneem El Welily (EGY)
Nour El Tayeb (EGY)
Laura Massaro (ENG)
Joelle King (NZE)
Camille Serme (FRA)
Nouran Gohar (EGY)
Sarah-Jane Perry (ENG)

The specs

Engine: 2.0-litre 4-cyl turbo

Power: 247hp at 6,500rpm

Torque: 370Nm from 1,500-3,500rpm

Transmission: 10-speed auto

Fuel consumption: 7.8L/100km

Price: from Dh94,900

On sale: now

GAC GS8 Specs

Engine: 2.0-litre 4cyl turbo

Power: 248hp at 5,200rpm

Torque: 400Nm at 1,750-4,000rpm

Transmission: 8-speed auto

Fuel consumption: 9.1L/100km

On sale: Now

Price: From Dh149,900

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Dubai Rugby Sevens, December 5 -7

World Sevens Series Pools

A – Fiji, France, Argentina, Japan

B – United States, Australia, Scotland, Ireland

C – New Zealand, Samoa, Canada, Wales

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Position: legal consultant with Al Rowaad Advocates and Legal Consultants.

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Updated: March 04, 2025, 5:52 AM