Arsenal are hoping to steal the march on Barcelona and Liverpool and land Valencia starlet Paco Alcacer in the January transfer window, according to Metro.
Alcacer has starred for the Spanish side since moving through the youth ranks, and at just 18-years-old, he is already attracting attention from numerous European clubs.
Arsenal lost out to Barcelona in the fight to keep Cesc Fabregas, but the Gunners are said to be hoping that they can come out winners in the case of Alcacer, who Liverpool have also shown interest in.
The paper claims that Real Madrid have made their interest clear, but both Arsenal and Liverpool are more desperate to lock down the youngster after suffering disappointing starts to the season.
Arsenal endured an embarrassing 8-2 defeat to Manchester United two and a half weeks ago, while Liverpool lost on Sunday 4-0 to Tottenham. And both sides are now hoping that they can bring the €10 million rated striker on board to challenge for trophies.