Ever Banega is preparing to leave Valencia in January with both Arsenal and Manchester United leading the race, as reported by talkSPORT.
The Argentine international was a revelation for Boca Juniors in the early days of his career, convincing a free-spending Valencia to part with the best part of €20m for the midfielder.
His early days for Valencia were marred by off-field controversies with the young prodigy's playboy lifestyle hampering his development.
However, last season saw the 25-year-old knuckle down and concentrate and he was rewarded with 29 appearances in La Liga - the most he has achieved in a season since 2009/10.
But with Valencia's financial issues still hindering the club, Banega has been linked with a move and Arsenal and Manchester United are both ready to attempt to sign the player.
His agent Marcelo Simonian was recently quoted by NapoliCalcioLive.com as saying: "I can only tell you that we are already talking with several clubs in relation to the next window.
"In the next few days I will be travelling to present all the options to Valencia."
The midfielder will add steel to the Gunners midfield that has been exposed at times this season during Mathieu Flamini's absence.
However, Banega is used to playing as a No.10 at Valencia and is not likely to displace Mesut Ozil at the Emirates.
Alternatively, David Moyes could see Banega as the perfect option to tighten up a faltering Manchester United midfield.
Both Michael Carrick and Marouane Fellaini have struggled for form this season and Banega would offer competition for the Premier League champions.