Chelsea are leading Arsenal and Manchester City for Real Madrid striker Jose Angel Pozo, according to The Daily Mail.
The 15-year-old is expected to fetch £500,000 after spending most of youth career with Madrid.
The Arsenal, Chelsea and City target joined Madrid when he was just 11 years old.
Both Arsenal and Chelsea have a decent history of bringing through young players, with City looking to follow in their footsteps after unveiling plans to build a multi-million pound youth academy.
Like Madrid, Chelsea and City are likely to be able to offer Pozo Champions League football, but Arsenal's future in the competition for the coming years is less certain.
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