Arsenal are set to push Real Madrid all the way in the race to land Radamel Falcao on a loan deal from Monaco, according to The Daily Express.
The Gunners are facing life without star striker Olivier Giroud until January after the Frenchman had surgery on a fractured tibia. Wenger is reportedly desperate to find an external solution.
£12 million fee
Monaco are willing to let Falcao leave the club on a temporary basis, but are demanding an incredible £12 million fee. Not only that but if you include Falcao's wages, the total cost of taking Falcao for the season taps out at around £20 million.
Having only just recovered from a serious knee injury, there is a significant amount of risk that would come with Falcao, especially for the price. However, Wenger is determined not to sign someone on a permanent basis.
No permanent deal
Having signed Alexis Sanchez in the summer, Wenger does not feel the need to bring a new striker to the Emirates Stadium permanently to cover for a five month injury. Instead a loan deal for Falcao provides an equilibrium for the Arsenal boss.
Wenger's reluctance to bring a permanent signing in before the window closes on Monday has essentially ruled out any chance of Edinson Cavani becoming a Gunner. Arsenal were rumoured to be readying a £50 million bid if they qualified for the Champions League, but Wenger is not interested in breaking Arsenal's transfer record in the closing days of the transfer window.
However, Wenger may be throwing himself into an unfair fight with regards to Falcao. The former Atletico Madrid star has reportedly set his heart on a move to Real Madrid, who are also keen to sign him.
Carlo Ancelotti wants an alternative to Karim Benzema and funds have been made available to him after Angel Di Maria finally sealed his £60 million move to Manchester United.
Despite this, Wenger remains confident of convincing Falcao to move to north London. The Arsenal boss thinks the offer of a key role in his squad alongside the likes of Alexis Sanchez and Mesut Ozil will be too much for Falcao to turn down.
There are, however, alternatives should a move for Falcao fail. Danny Welbeck is reportedly available on either a temporary or permanent basis from Manchester United while Loic Remy could be bought for just £8 million from QPR.