Arsenal have reportedly informed Real Madrid that they are willing to meet the club's asking price of around £25.5m to sign Gonzalo Higuain.
The Argentine striker has been persistently linked with both Arsenal and Juventus in recent weeks, with his future currently undecided as Madrid wait to appoint a new coach.
According to Marca, the Gunners are prepared to pay Madrid their full asking price in one go, while rivals Juve prefer to spread the cost across five equal payments.
Madrid would much prefer the fee up front and therefore Arsenal are currently in pole position to end their search for a new striker, but the Spanish giants want to see what potential new coach Carlo Ancelotti thinks of the 25-year-old.
A proposed move for Huguian would see the prolific striker become Arsenal's record signing, eclipsing the £15m spent on Andrei Arshavin in 2009.
