According to Fichajes, Atletico Madrid are considering a January move for Arsenal midfielder Mikel Merino, with a loan-to-buy arrangement reportedly under discussion for the 30-year-old Spain international.
Diego Simeone’s side are exploring the possibility of taking Merino on loan before having an option to make the move permanent for €30 million. There is no indication yet that a formal offer has been submitted, but the proposal would give Atletico a relatively low-risk route to bring an experienced midfielder back to La Liga.
Merino has found regular football difficult to secure at Arsenal this season. He has made nine Premier League appearances but accumulated only 183 minutes, starting once and recording no goals or assists. His Champions League involvement has also been limited to three appearances and 135 minutes.
The midfielder has scored in the League Cup, but his overall involvement remains below what he would expect from a player of his experience. Merino joined Arsenal from Real Sociedad in August 2024 for €37.5 million and remains under contract until June 2028.
Simeone could exploit Merino’s versatility
Atletico’s interest is understandable given the range of roles Merino can perform. The Spaniard can operate as a defensive midfielder or interior and has also played further forward when required. That flexibility would give Simeone another tactical option in a midfield that can require different profiles depending on the opposition.
His familiarity with Spanish football could also make the transition straightforward. Merino spent six seasons with Real Sociedad before moving to Arsenal, making 190 La Liga appearances and scoring 20 goals. For Atletico, the proposed loan would provide an opportunity to assess whether Merino can reproduce his best form in Spain before committing €30 million to a permanent transfer.
However, Arsenal would have to decide whether losing the midfielder midway through the season is acceptable. His contract gives the Gunners considerable control, while his limited Premier League minutes alone do not necessarily mean they are ready to sanction his departure. The proposed €30 million purchase option is therefore a reported framework rather than an agreed valuation, with negotiations required between all parties before any deal could progress.
A win-win for all parties
This is the kind of deal that could make sense for all sides if Atletico can convince Arsenal to participate. Merino’s lack of Premier League minutes makes a temporary move understandable, but his versatility means Arsenal should be careful about allowing him to leave without adequate midfield cover. The fact that he remains under contract until 2028 also means there is no urgency for the Gunners to accept an unattractive proposal.
For Atletico, the loan-to-buy structure is particularly appealing. Spending a season evaluating Merino before committing €30 million would reduce the risk associated with signing a 30-year-old whose recent playing time has been limited. More importantly, Merino already knows La Liga. He would not need to learn a new league or culture, while Simeone could immediately use his physicality, positional intelligence and ability to contribute in multiple midfield roles.
The biggest question is whether Merino himself sees Atletico as the right next step. If he wants consistent football ahead of Spain’s international ambitions, however, a return to Madrid could offer precisely the opportunity he currently lacks in London. At this stage, it remains a possibility rather than a developed negotiation. But if Arsenal are willing to listen, the proposed loan-to-buy formula deserves serious consideration.