<p>Real said Atletico ‌rejected the offer based on ‌the Argentine's 500 million euros release clause.</p><p>“<strong>Real ‌Madrid CF announces that, following today’s ‌Board of Directors meeting, it has made an offer of 150 million ‌euros to Club Atletico de ⁠Madrid ‌for the federative rights of the player ​Julian Alvarez</strong>,” the club said on its official website.</p><p>“<strong>After studying ​and evaluating it, Atletico de Madrid has thanked the club for the ⁠offer, made ​within the framework of the good relations existing between both clubs, and has rejected it, referring to ‌the player’s release clause</strong>.”</p><p>Atletico issued ​a sharp rebuttal, mocking their cross-city rivals' version of events.</p><p>"<strong>You must have confused politeness with gratitude, but so there is no doubt: ‌we do not thank you for anything</strong>," Atletico posted on X.</p><p>"<strong>We neither studied nor evaluated any offer for Julian</strong>."</p><p>The announcement comes a day after Florentino Perez won Real Madrid’s first contested presidential election in two decades, securing another four-year term.</p><p>In the run-up to Sunday’s vote, Perez had said he would spend 150 million euros on ‌an unnamed player to be ​revealed on Tuesday, a fee that ‌would represent a club record.</p><p>Alvarez scored 20 goals in 49 appearances for Atletico last season as they finished fourth in the ⁠table.</p>