Arsenal could submit an offer to sign Marco Asensio from Real Madrid on a permanent basis, according to reports.
The Gunners are closing in on a deal that would bring Martin Odegaard back to the Emirates Stadium for around £30m.
The north London side also took Dani Ceballos on loan from Madrid for two full seasons, but the midfielder is now back at the Estadio Santiago Bernabeu.
Asensio is not assured of a regular starting role under Carlo Ancelotti this season, and he began Saturday's 4-1 victory over Alaves on the bench.
Madrid are said to value Asensio at around £35m and could be willing to do business if the Gunners meet their asking price.
Yet although there is no reason to doubt Arteta's supposed admiration of Asensio, it is hard to see this deal being done.
Arsenal are about to spend £30m on Odegaard and a similar amount on Aaron Ramsdale, the Sheffield United goalkeeper.
It is difficult to see enough funds being leftover after those purchases, particularly as the Gunners have already spent £73m on Ben White, Nuno Tavares and Albert Sambi Lokonga.
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