The West Ham United faithful will be most pleased with how the east London side has finally unearthed the formula for lasting success under David Moyes' tutelage, having spent so many interminable years mired in mediocrity.
Having now cemented their position in the Premier League as European challengers, West Ham are well-placed to remain at the right end of the division for years to come.
One of the most important aspects behind the newfound feats is the success gleaned on the transfer front, with the dark days of misfires now over, for the most part.
That's not to say that the club haven't missed out on their fair share of targets, however, with none so detrimental that the decision not to sign Julian Alvarez, before the first-class star moved to Manchester City.
Why didn't West Ham sign Julian Alvarez?
Hailed for his “incredible threat” by Pep Guardiola, Alvarez is known to Premier League football as one of its most exciting attackers, but Moyes didn't feel that his signature was worth procuring back in 2021.
Speaking earlier this year on the Diary of a CEO Podcast, the Scottish gaffer revealed that he hired a scout who held deep knowledge of Argentinian football and recommended the 23-year-old, and while Moyes looked into the player and was left impressed by his technical skills, he opted out.
This is due to the form of Michail Antonio, who had started the 2021/22 Premier League season in odd-defying form, plundering four goals and three assists from his first three matches.
Stellar stuff, but not enough to eclipse the prowess of Alvarez. However, Moyes didn't think so and indeed chose to maintain proceedings with the veteran at the spearhead.
How much did Manchester City pay for Julian Alvarez?
Manchester City completed the signing of Alvarez from Argentinian outfit River Plate for around £14m in January 2022 – likely the fee he could have cost the Hammers – with the player remaining in his homeland on loan until the summer.
Director of Football Txiki Begiristain lauded Alvarez's dynamism and predicted he would become a "top player" in the future, something that, frankly, he's more than well on the way to achieving.
How much is Julian Alvarez worth now?
For those who have followed Alvarez's displays over the past year, or more, there will be a feeling that he is not yet the finished article, and considering the fact that he now plays a more prominent role in the Sky Blues' team, this is probably justified.
Regardless, he's already considered among the best of the best in world football, with CIES Football Observatory's valuation model actually providing him with a £129m price tag.
This is, frankly, staggering, and while the figure feels somewhat exorbitant, there's no denying that the increments he has made to his game already warrant a place among the very best rising stars that football has to offer.
It signifies an awe-inspiring 821% rise in valuation in less than two years, which is, really, fairytale stuff. Not only has Alvarez played an integral role but he has swiftly established himself as one of the most talented stars across European competition.
Given West Ham's proven prowess in investing aptly after a big sale (Declan Rice to Arsenal, £105m), there's no telling how much use could have been made from Alvarez had he signed.
Why is Julian Alvarez worth that much?
Alvarez's arrival in Manchester was somewhat overshadowed by the exciting acquisition of Erland Haaland from Borussia Dortmund, with the prodigious frontman joining after his £51m release clause was paid.
That being said, Alvarez still enjoyed an impressive maiden campaign, scoring 17 goals and supplying five assists from 49 matches across all competitions, starting only 23 of those.
Winning the European treble, the 24-cap Argentinian dynamo has since been called "superb" by colour commentator Ally McCoist and will hardly regret the fact that he didn't move to West Ham after such illustrious success already under Guardiola.
The 23-year-old has made some rather remarkable strides this season, posting six goals and five assists from 13 matches so far and showing little sign of slowing down, and while the direct contributions have shot up, it is his overall performance that has been so eye-catching.
Statistic
22/23
23/24
Appearances
31
8
Starts
13
8
Goals
9
3
Assists
0
3
G/A rate
0.29
0.75
Pass completion
83%
85%
Shots per game
1.5
3.0
Key passes per game
0.6
2.4
Touches per game
23
49
*Statistics sourced via Sofascore
There is a very clear improvement to Alvarez's game after his first year in the Premier League, and this isn't just due to the regularity of his time on the pitch, but his awareness, intelligence and incisiveness have all skyrocketed.
This exponential growth stems from an acclimatisation to life on English shores, but also an unshackling from the constraints of Haaland's jaw-dropping prolificness.
Where last season, Manchester City's Norwegian goal machine was the star man, this term, Alvarez is no longer second fiddle and has his own discernible identity in Guardiola's intricate system.
The £100k-per-week gem will never boast the raw predatory instinct in front of goal, but he offers a multi-functional, protean ability in offensive situations and has evidenced this through his primary placement this season in his deeper-lying forward role this season.
His manager has hailed him as "almost undroppable" – which is pretty high praise from a man known for his constant fluctuations and tinkering of his team.
The table above also illustrates his growing responsibility, having started all eight of City's Premier League matches this season, and given that he has already hit the halfway point in goal contributions from last season, he's clearly growing into a truly frightening forward.
Had he joined West Ham, there is no telling how his development would have been impacted, but one thing is for sure, his versatility and all-encompassing offensive attributes offer nothing less than the complete package.
With the likes of Jarrod Bowen, Mohammed Kudus and Lucas Paqueta all thriving under Moyes' wing – capable of prospering across an array of roles – Alvarez would surely have found his feet at the London Stadium.
And given that Antonio now approaches the twilight phase of his Hammers career, there is every possibility that Alvarez could have played the position he performs so admirably at the Etihad Stadium, offering an expansive set of skills to deftly complement the Jamaica international's own arsenal.
Sure, Alvarez has it all with Manchester City; last season, he won the treble and the World Cup with Argentina. There's really no arguing that the move he made was an auspicious one for his career.
But that doesn't mean the West Ham faithful can't dream of what might have been for a player who is destined for an unwavering placement at the very top of the global game.
