Red Bull Salzburg will demand between €25m (£22m) and €30m (£26m) for midfielder Dominik Szoboszlai when the transfer reopens, according to reports in the Italian media.
Arsenal have been tracking the Hungarian international for well over a year but they now have a number of rivals for the 19-year-old’s signature.
AC Milan, Inter Milan, RB Leipzig and Borussia Dortmund are all said to have taken a keen interest in Szoboszlai following his performances for Salzburg this campaign.
The teenager has scored four goals and provided seven assists in 29 appearances for the Austrian side, with the player having been played predominantly as a left-winger by manager Jesse Marsch.
Milan may reportedly have an advantage over the Gunners and other interested parties, though. The current head of sport at Red Bull, Ralf Rangnick, who brought Szoboszlai to Salzburg, could well be taking over at the San Siro ahead of next season.
There have been claims the German manager could bring a number of staff and players with him from Red Bull, including the Hungarian starlet.