India, June 10 -- The Madrid derby has spilled over into the summer transfer window in a shocking way. On Tuesday, Real Madrid confirmed that a staggering €150 million ($173.25 million) blockbuster bid for Atletico Madrid forward Julian Alvarez has been rejected by their cross-town rivals. Despite the mouthwatering fee, which would have shattered Real Madrid's all-time club transfer record, Atletico stood firm, refusing to negotiate for one of their most vital attacking assets.

Why Did Atletico Madrid Reject Real Madrid's €150M Offer?

Real Madrid released an official statement on their website following a Board of Directors meeting, confirming the formal approach for the Argentine international's federative rights. However, ...