Arsenal are set to offer Real Madrid a £2m loan fee as they try to secure the services of Alvaro Morata for the rest of the season, the Metro understands.
The Gunners are desperately short of attacking options, with Theo Walcott joining an already extensive injury list at the club after being ruled out for six months with the knee injury he sustained in the 2-0 FA Cup third round victory over Tottenham Hotspur at the weekend.
Morata is reportedly keen to move away from the Bernabeu temporarily as he seeks further first team experience, but his manager Carlo Ancelotti is keen for him to remain with the club.
The Spain U21 international, whose situation is also being monitored by Liverpool, has made ten appearances in La Liga so far this season, scoring twice.
Meanwhile, the Express have reported that Arsene Wenger is lining up a move for Jackson Martinez should he fail in his pursuit of Morata.
The Colombia international has hit fourteen goals in twenty games for Porto so far this season, and has also been linked with a move to Chelsea.
Both Mario Mandzukic of Bayern Munich and Atletico Madrid goal machine Diego Costa have also been mentioned as alternative options, but neither seem likely to be going anywhere, at least in this transfer window.