Arsenal have held discussions with Atletico Madrid over a potential move for Kieran Trippier, according to reports.
The Gunners are keen to sign the England international before the transfer window closes on August 31.
Hector Bellerin is available for transfer and has not yet featured for Mikel Arteta's side this season.
That has left Arsenal needing another option at right-back, and Trippier has been identified as their primary target.
Time is running out for the north Londoners to get a deal done, but they have now begun talks with Atletico.
That development comes via a report by Eurosport, which adds that Arsenal are not willing to meet the current asking price of £34m.
Atletico have no great desire to sell Trippier, who was a key part of their La Liga title triumph last term.
They would be willing to cash in on the 30-year-old for the right fee, however, with the former Tottenham defender under contract for only two more years.
While Arsenal have baulked at the initial price tag, they are hoping to structure the deal in a way which could bring Atletico to the negotiating table.
There is another issue, though. Trippier has also been linked with Manchester United this summer and would welcome a move to Old Trafford.
He is said to be considerably more lukewarm on the possibility of joining Arsenal, who are absent from European competition this season.
Whereas Atletico will hope to challenge for the La Liga title and the Champions League, Arsenal look set to struggle in their bid for a top-four finish in the Premier League.
United could yet return with an improved offer for Trippier, having previously had a £10m bid turned down.
Arsenal would therefore be advised to source an alternative to the England international should they fail in their bid to bring him to the Emirates Stadium.
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