According to The Independent, the French champions have already signalled their willingness to pay the full valuation and have also held discussions with the player’s representatives as they explore a major summer move.
At the same time, PSG are considering changes in attack, with Goncalo Ramos potentially available after struggling for consistent minutes under Luis Enrique, with his role reduced in key matches this season.
However, competition for Alvarez remains strong. While the striker is said to prefer a move to Barcelona, their financial limitations make a deal difficult.
Arsenal are also interested and could afford the fee, although they are weighing up alternative targets such as Morgan Rogers of Aston Villa as they plan their summer spending strategy.