Arsenal have been linked with a big money move for Benfica’s Nicolas Gaitan, according to the Metro.
Manchester United have previously been linked with the Argentinian, though the Gunners are now thought to be the front runners in the race to secure his services.
The former Boca Juniors man scored three goals in twenty-three league appearances last season; his side finishing a point behind champions Porto.
The 25 year playmaker is the second player from the Edstadio da Luz to be linked with a move to the Emirates this week, with a number of outlets reporting that the Gunners are also considering a move for defender Lorenzo Melgarejo.
The 22 year olds agent has claimed that both Arsenal and Fenerbache are interested, though both sides are yet to make an offer.
Meanwhile, AC Milan have alerted Premier League clubs by suggesting that the could be convinced to cash in on striker Stephan El Shaarawy.
The 20 year old enjoyed a breakthrough season at the San Siro last season, scoring sixteen goals in thirty-seven league appearances.
Both Arsenal and Manchester City are said to be interested in the player, who has eight full caps for the Italian national side.