Real Madrid will attempt to sign Samuel Eto'o from Anzhi Makhachkala because of Arsenal's interest in Karim Benzema, reports the Daily Express.
The Cameroon international is available for as little as €6m after the Russian club announced its intentions to dramatically and rapidly reduce their wage bill.
Eto'o was thought to be a back up option for Chelsea were they to miss out on Manchester United striker Wayne Rooney but it appears they will face competition from the La Liga giants.
The 32-year-old went as far to say that he would welcome the chance to reunite with Jose Mourinho. However, the Chelsea manager was more coy on the prospect of a move for Eto'o.
Spanish AS journalist Joaquin Maroto reports that Carlo Ancelotti would prefer Eto'o to lead their attack next season than current first choice Benzema.
Arsenal have been linked with a £40m bid for Benzema and with the imminent arrival of Gareth Bale for a world record fee, Real see the sale of the Frenchman as a good opportunity to regain some money.
Maroto also said the Madrid club looked in to the possibility of signing Stamford Bridge legend Didier Drogba last summer before opting against making a move.
Eto'o would still command a high wage, as it has been reported that he is only willing to reduce his current pay packet of over £300,000-a-week by a small amount.
With Gareth Bale likely to come in as a top earner alongside superstar Cristiano Ronaldo, the wage bill at the Bernabeu could become unsustainable if Eto'o does join.
But having already sold Gonzalo Higuain, Benzema's departure to Arsenal would leave enough spare cash to pay Eto'o his wage demands over a short period of time.
Real Madrid were the first club to bring Eto'o to Europe after they signed the former African Player of the Year in 1997.