Arsenal have reportedly joined the race to sign Lucas Silva from Cruzeiro in January.
Recent reports had suggested that Real Madrid were close to completing a deal to sign the 21-year-old, but no official announcement has been made by either club.
When asked about a potential move for Silva, Madrid boss Carlo Ancelotti told reporters: "We are waiting to see how the recovery of Modric and James [Rodriguez] progresses."
If Madrid delay making a decision, Arsenal are ready to match Cruzeiro's £12m valuation of the midfielder, according to the Daily Mail.
The report claims that Silva is part-owned by a sports investment fund who would be owed around £4m from any £12m sale.
