Alvarez wanted to leave Ajax towards the end of the transfer window last summer when Chelsea wanted him but the Dutch giants blocked the move.
The Mexican is expected to leave Ajax this time around and there has been interest from the Premier League again with West Ham keen to sign him.
West Ham held talks over taking him to the London Stadium but it has been claimed that the Hammers have ended their pursuit of the midfielder.
Ajax want a deal worth £45m before agreeing to sell Alvarez and West Ham believe that is too expensive.
The Hammers are not ready to fork out such figures for Alvarez and are now looking at other targets.
They have their eyes on Fulham’s Joao Palhinha and are believed to be preparing an opening offer.
West Ham are also interested in James Ward-Prowse and Kalvin Phillips in the ongoing transfer window.
David Moyes wants to bring in two midfielders to replace Declan Rice, who is set to leave this summer.
