Arsenal transfer news: Real Madrid tell Gunners how much Martin Odegaard will cost

Martin Odegaard
(Image credit: PA)

Arsenal will have to pay over £40m to sign Martin Odegaard on a permanent basis, according to reports.

The Norway international spent the second half of last season on loan at the Emirates Stadium from Real Madrid (opens in new tab).

Odegaard scored one goal and provided two assists in the Premier League, and impressed Mikel Arteta with his performances.

The 22-year-old has been linked with a permanent switch to north London ahead of the 2021/22 campaign.

But according to ESPN (opens in new tab), it would take a bid of around £42.6m to prise Odegaard away from the Estadio Santiago Bernabeu.

Madrid still see the youngster as an important player for the future, even if he is unlikely to be a regular starter under Carlo Ancelotti next term.

However, Odegaard wants more game time than he has received at Madrid in the past and is therefore open to a transfer.

The Spanish giants would consider selling him, the report states, but only if their asking price is met.

The next two weeks could determine Odegaard's future, with the player set to make his preferences known to Madrid.

Arsenal (opens in new tab) might prefer another loan deal, but that does not look to be possible.

Madrid's finances have been adversely affected by the coronavirus pandemic, and the club wants to raise some money if they are to be without Odegaard for the upcoming campaign.

That leaves Arsenal in a difficult position. Arteta is working to a strict budget, and the Gunners may need to sell before they can buy.

Emile Smith Rowe has at least committed his future to the club, signing a new five-year deal at the Emirates.

But Arsenal arguably need another creative player in the ranks, having lost Mesut Ozil in January.

Leicester (opens in new tab)'s James Maddison has been spoken of as another target, but the Foxes are under no pressure to sell the 24-year-old.

Indeed, Arsenal have been told that it would take £70m to buy the England international this summer (opens in new tab).

Odegaard would not be that expensive, but £42.6m is still a sizable fee in the current market.

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