Arsenal are reportedly optimistic about how the Vinicius Junior transfer saga is going, with progress being made on a potential deal.

That’s according to Miguel Delaney of the Independent, who also adds that the Gunners remain keen on another world class forward in the form of Atletico Madrid’s Julian Alvarez.

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See below for Delaney’s post on X, in which he describes “progress” being made on Vinicius to Arsenal as we enter a critical period in the saga, while he also links to his report in the Independent about the Gunners still working on other targets and being keen on Alvarez…

Vinicius Junior future enter critical few days, but Arsenal do feel it's been heading in a better direction for them

Progress has been madehttps://t.co/SyF9zxwUxt

— Miguel Delaney (@MiguelDelaney) August 1, 2026

“Vinicius Junior future enter critical few days, but Arsenal do feel it’s been heading in a better direction for them,” Delaney posted.

“Progress has been made,” he added.

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Could Arsenal really sign Vinicius Junior and Julian Alvarez?

Arsenal fans would really be in dreamland if their club could somehow sign both Vinicius and Alvarez in the same summer.

However, we’d venture at this point that that looks highly unrealistic, and we’re still surely a long way from either one of those being a done deal.

Things seem to be moving in a positive direction with Vinicius, but the Independent’s report does still state that the 26-year-old’s preference is to stay at the Bernabeu.

It will be interesting to see if he can agree a new contract, but if he does then perhaps that could see Arsenal switch their focus towards Alvarez.

The Argentina international is another top class attacking talent who could strengthen Mikel Arteta’s squad, and both of these players would likely cost similarly big fees.

AFC may have more money to spend than in the past, but it perhaps seems unlikely that they could afford both of these in one window during this era of strict Financial Fair Play regulations.