Madrid, June 9 -- Real Madrid have announced that they made a 150 million euros bid for Atletico de Madrid for star forward Julian Alvarez, but the latter rejected their proposal.

In an official statement on Tuesday, Real Madrid confirmed that, following a Board of Directors meeting, the club had submitted a EUR150 million offer to Atletico Madrid for the federative rights of the Argentine footballer.

However, Atletico Madrid said it appreciated the offer but rejected it after reviewing the proposal, pointing instead to the player's release clause as the basis for its decision, said Real Madrid in their statement.

"Real Madrid CF announces that, following today's Board of Directors meeting, it has made an offer of 150 million euros to ...