Frenkie de Jong's recovery from a serious knee injury, expected to keep him out for five to six months, has left Hansi Flick short of options in central midfield, prompting Barcelona to monitor that market alongside their long-running search for a forward.
The club must decide whether to press on with a move for Atletico Madrid's Alvarez, 26, or explore alternatives, with a left-footed centre-back also understood to appeal to the German coach as a further area of investment.
According to Gonzalo Tortosa on El Chiringuito, Barcelona are keeping a close eye on Ounahi, 26, as a possible low-cost solution in midfield. Girona's relegation to the second tier has made a sale of the Morocco international increasingly likely, with a fee in the region of €10m potentially enough to get a deal done despite his release clause sitting well above that figure.
Real Betis are prepared to make a significant financial commitment to sign him, and Villarreal, Real Sociedad and Celta Vigo have also been credited with interest, meaning Barcelona would face genuine competition despite the favourable price.
Ounahi contributed two goals in six appearances for Morocco at this summer's World Cup, adding to a growing reputation since his breakout performances for the country at the 2022 tournament.
Barcelona's move for Alvarez remains complicated by Atletico Madrid's refusal to negotiate below his release clause, with the Argentine due back in Madrid for training on August 10. Eli Junior Kroupi had emerged as a possible alternative forward target, but that avenue has also closed after the Lorient striker underwent surgery that will keep him out for three to four months.
With Anthony Gordon and Karim Adeyemi already signed to strengthen the wings this summer, Barcelona's business is expected to be defined by how the Alvarez situation and De Jong's recovery both play out over the coming weeks.