Real Madrid are reportedly willing to sell forward Gonzalo Higuain to Arsenal for a fee in the region of £22m.
The Argentina international will be available for transfer in the summer as Madrid are looking to cash in on the 25-year-old.
Gunners boss Arsene Wenger has made tentative enquiries with the Spanish club and is willing to stump up £18m for the striker, according to the The Mirror.
Arsenal are looking to bolster their attacking options at the end of the season and are also reported to be interested in Fiorentina striker Stevan Jovetic.