Atletico Madrid are looking to add more depth to Diego Simeone’s midfield rather than overhaul a department that already has several established options. Injuries to Koke, Johnny Cardoso and Pablo Barrios have exposed how difficult it can be to maintain the same level when key players are unavailable. Although Rodrigo Mendoza and Obed Vargas have shown promise, Atletico are still looking for another experienced option who can shoulder responsibility across a demanding season.
That is a problem Atletico cannot afford to ignore while fighting on multiple fronts in La Liga and Europe. Their league form has been solid with 10 wins from their first 12 matches, scoring 23 goals and conceding just eight. Still, losses against Barcelona and Bayern Munich showed how tough it is to go toe-to-toe with Europe’s elite. Simeone needs a squad that does not drop off when key starters are missing.
That has put Martin Zubimendi back on Atletico’s radar. The club are keeping tabs on his situation at Arsenal, where he has started just one of his 12 appearances this season, accumulating 380 minutes across all competitions and only 100 in the Premier League. Atletico explored the possibility of signing him before he moved to north London, and his reduced role under Mikel Arteta could now give them another opportunity to bring him to Madrid.
There is a financial side to these plans, too. Apollo Sports Capital completed its takeover as majority shareholder in March 2026, bringing fresh investment and a 100 million euro capital increase to back the squad and stadium projects like the Ciudad del Deporte.
Even so, the club still has to balance the books. Atletico projected 554 million euros in revenue for the 2025/26 season following a campaign where they brought in around 416 million euros, but they still posted a net loss of nearly 6 million euros. New investment helps, but it does not erase the need to manage spending carefully.
La Liga’s squad-cost rules make this even stricter. Atletico’s limit for the 2026/27 season is set at 361.3 million euros. This cap covers player wages, bonuses, social security, agent fees, and transfer amortisation rather than acting as a direct transfer budget. Any new arrival has to fit comfortably inside that strict financial framework.
Zubimendi would fix a clear gap without requiring a massive midfield overhaul. His stats from Real Sociedad prove why he is so rated as a deep-lying playmaker. During the 2024/25 season, he ranked fourth in La Liga for both passes attempted (1,752) and touches (2,197), alongside 101 progressive passes. He is just as good without the ball, ranking fifth for tackles and interceptions with 94 possessions won in the middle third, the second-highest tally in the league.
That mix gives Simeone a player who is comfortable as a deepest single pivot or alongside another central midfielder, providing much-needed cover and control.
AS reports that Arsenal could sell players to fund contract renewals, with Zubimendi listed alongside Mikel Merino and Viktor Gyokeres. The Gunners want to recoup most of the 60 million euros they paid Real Sociedad, and his reduced role alongside a strained relationship with Mikel Arteta could force an exit.
For Zubimendi, a move back to Spain means regular football at a top club and a chance to protect his spot in the national team. For Atletico, it solves a glaring squad depth issue. If they can agree on a fee that works within their strict budget limits, it could prove to be a smart piece of business.
