Arsenal have made an €8 million offer for Corinthians star Alexandre Pato, according to reports in Brazil.
The 24-year-old spent five years with AC Milan before moving back to Brazil in the summer.
Both Arsenal and Tottenham have been linked with Pato in recent weeks as the two rivals look to bolster their options in attack - however according to Lancenet, it is the Gunners who have made the first move by offering €8 million for his services.
The Brazilian source report that the bid has been turned down by Corinthians, who are willing to sell but are holding out for €12 million.
Pato has failed to set the world alight since signing for Corinthians, and was recently booed by his own supporters after missing a decisive penalty in a shootout in the Copa do Brasil in October.
Any deal either Arsenal or Tottenham hope to make for Pato will be complicated by the fact that Corinthians only own 60% of his economic rights.
Another factor that could impact on the move is the arrival at Corinthians of former Brazil coach Mano Menezes, who is said to be willing to give Pato a chance to show what he can do.
Both Arsenal and Tottenham are short of strikers and are likely to be in the market for a new forarwd in January.
The Gunners are short of back-up for Olivier Giroud while Jermain Defoe could be leaving Tottenham soon if reports are to be believed, and with Emmanuel Adebayor reportedly also on his way out of White Hart Lane, Roberto Soldado would be left as the club's only senior forward.