Arsenal are in a battle with North London rivals Tottenham and Liverpool for Real Madrid midfielder Dani Ceballos, according to Marca.
The Spanish newspaper reports that Spurs are currently the favourites to land the Spanish international.
Ceballos was a key player as Spain lifted the European Under 21 Championships at the back end of last month.
Real are said to be willing to listen to offers for the midfielder, with manager Zinedine Zidane not a fan of the player.
The Spanish club’s hierarchy are, though, very reluctant to let Ceballos go as they think he has massive potential, and they are keen to have a buyback clause in any sale.
Out of the three English clubs, Tottenham are believed to be the only team prepared to agree to such a proposal, while the Gunners are adamant that no such clause should be included.
It is one of the reasons why Spurs are leading the race, and Real’s interest in Christian Eriksen could be an additional factor, with Ceballos possibly being used as a makeweight in the deal for the Dane.