Arsenal were told they must pay €40m (£34m) to acquire Real Madrid playmaker Marco Asensio in January.
According to El Nacional, the La Liga side would not be against allowing the 25-year-old to move if the Gunners could meet their rating, something the report claims is very possible for them to do.
Asensio is said to be one of three Real Madrid players frustrated with the club’s lack of playing time, along with former Chelsea winger Eden Hazard and Brazilian left back Marcelo.
The Spain international has made 10 appearances for the club in La Liga, mostly off the bench, while only appearing twice in the Champions League very late in the matches.
In total, he played just 461 minutes under returning coach Carlo Ancelotti, something the report claims has surprised him as he is unaccustomed to a lack of opportunities.
The multi-talented striker moved to Madrid in 2015 when he was just 19 years old. He joined from Real Mallorca for a fee of £3.5m.
Since then, he has made more than 200 appearances for Los Blancos, winning two Champions Leagues, two La Liga titles, three FIFA Club World Cups, two European Cups and one Spanish Super Cup.
However, with his contract expiring in the near future and dwindling minutes at the Bernabeu, Asensio may be on the move.
His current deal expires in 2023, which means that Real Madrid’s hierarchy is likely to move to him before his value plummets when he enters his final year of contract.
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Both Arsenal and Liverpool’s Premier League opponents have recently been linked with his services.
Mikel Arteta is said to be keen to be linked with former Real Madrid teammate Martin Odegaard, due to his impressive versatility in the frontline.