Arsenal could seal the signing of Real Madrid winger and three-time Champions League winner Lucas Vazquez 'early next week' following a report in Spain that the two clubs are negotiating a fee, potentially beating Bayern Munich, Inter and Paris Saint-Germain to the deal.
A Real Madrid player since the age of 16, Vazquez emerged as an important first teamer after a loan at Espanyol and featured for Los Blancos more than any other player during both the 2016/17 and 2017/18 seasons, making 103 appearances in all competitions.
The 28-year-old's expected departure from the Bernabeu this summer comes as Real look to raise a total of €300m through player sales to fund an overdue rebuild.
For Arsenal, who have also been eyeing Crystal Palace winger Wilfried Zaha - valued by his club at £80m or more, Vazquez could represent something of a bargain with their limited budget.
According to AS, the Gunners have offered Real a deal worth €35m (£31.4m). That would be split into a €32m initial fee and a further €3m in add-ons. The implication is that those alleged talks between the clubs have been positive, but Arsenal must now convince the player.
AS claims Arsenal 'will do everything' to persuade Vazquez, of whom Unai Emery is apparently a big fan, to choose them over the likes of Bayern, Inter and PSG.
Arsenal are already linked with Vazquez's Real teammate Dani Ceballos this summer.
The club's reportedly measly transfer budget has dominated news stories since the end of last season, threatening to push the club further behind the rest of the Premier League 'big six'.
It has long been said that Arsenal may only have £45m or so to spend, before player sales, and a story from the Daily Mail now claims that club officials are ready to urge owner Stan Kroenke to make more fund available to sign players.