Arsenal are competing with Atletico Madrid for Benfica fullback Alejandro Grimaldo, according to Mundo Deportivo.
The Catalan publication believes the two clubs are in pole position to sign the 23-year-old at the end of the season.
With Nacho Monreal turning 33 this month, the Gunners are likely to be looking for a younger left-back to replace the Spanish international.
Grimaldo, who has been linked with Manchester City in the past, has been in good form for Benfica this campaign, having scored five goals and contributed five assists in 34 games.
The defender came through the academy at Barcelona but didn’t make the breakthrough into the first team squad.
Grimaldo made the €2m switch to Benfica in January 2016 and has gone on to make close to 100 appearances for the Portuguese side.
The former Spanish Under 21 international was also used as a winger earlier in his career, although he has been selected exclusively at left-back since moving to Portugal.