Bayern Munich star David Alaba is yet to agree a new contract at the Allianz Arena - with Arsenal, PSG and Barcelona on alert.
German newspaper Sport Bild reports that the Austrian international is holding out for a bigger pay rise off the back of his impressive performances for the treble winners last year.
And the paper notes Arsenal, PSG and Barcelona were all interested in the full-back over the summer, which means the trio could rekindle their interest in the January window.
Bayern Munich are reportedly adamant Alaba will not be sold, although his current contract does not expire until the summer of 2015.
The 21-year-old signed that deal back in 2011, but he's since become one of the most highly-rated young players in the world.
Although he plays left-back for the Bavarian giants, the reigning Austrian player of the year is equally comfortable in central midfield and often plays there for his country.
Alaba's agent, Papa George, is holding out for a raise to €8m-a-year for his player while Bayern are only reportedly willing to double his current €2.5m-a-year wage.
That could potentially open the door for the likes of Arsenal or PSG.
The Gunners demonstrated their willingness to spend big last summer when they splashed out for Mesut Ozil, and a move for Alaba would seriously underline their intention to compete with Europe's elite.