Arsene Wenger is set to smash Arsenal's transfer record to make Real Madrid star Mesut Ozil his marquee signing of the summer.

According to the BBC, the Gunners are in advanced talks to sign the 24-year-old.

Ozil's place at Real Madrid has been threatened by the arrival of Isco and Gareth Bale.

The Germany international was heavily linked with a move to Emirates back in 2010, but opted a move to Bernabeu for an initial fee of £12.4 million.

However Arsenal, who have submitted a bid of £40 million for the former Werder Bremen star, face competition with rivals Manchester United as well as French outfit Paris Saint-Germain.

The Daily Mail report that Arsenal could be dealt another transfer blow if Paris Saint Germain or, most significantly, Manchester United increase their pursuit to sign Ozil.

Ozil, who was left on the bench for Real’s 3-1 win over Athletic Bilbao on Sunday, reportedly prefers a move to Premier League despite interest from the French champions.

Arsenal are willing to meet the playmaker's £180,000-a-week wage demands, while they also target his Real Madrid team-mate Angel Di Maria and Newcastle midfielder Yohan Cabaye.

However, the Ozil saga may take a final twist if Manchester United enter race for his signature before the close of transfer window at 23:00 BST today.

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