Arsenal are pondering a late move for Manchester United target William Carvalho ahead of deadline day - but they won't activate his £37 million release clause according to the Daily Mail.
Instead they may make to look to make an offer in the region of £20 million - and if that's not enough then a swoop for Wolfsburg's Luiz Gustavo could be on the cards.
Arsenal boss Arsene Wenger looks to be keen on bolstering his midfield before the close of the transfer window, and Carvalho could be the man for the job. The 22-year-old has played just one full senior season with Sporting Lisbon but that was enough to convince Portuguese manager Paulo Bento to take him to the World Cup in Brazil earlier this summer.
His performances for club and country have piqued the interest of both Manchester United and Arsenal, while Chelsea have also been linked with a swoop for him.
However it looks as though it is the Gunners leading the way as things stand; Manchester United look to be concentrating on a deal for either Arturo Vidal or Nigel de Jong, while Chelsea boss Jose Mourinho is likely to end his summer spending by landing Loic Remy from QPR.
Arsenal certainly look short in defensive midfield especially with Mikel Arteta injured - however whether they are able to get a deal for Carvalho over the line in time remains to be seen. Sporting are unlikely to accept an offer that's well short of his release fee, while he is part-owned by a third party which will complicate matters.
There also remains a chance that Manchester United could be back in the running for Carvalho if their move for Vidal doesn't go to plan.
That could then turn the Gunners back on to long-term target Gustavo, but once again his price could prove to be a problem. Wolfsburg has quoted a price of £27 million which Wenger may be reluctant to pay.
Lars Bender and his brother Sven remain targets but won't be on the move in this window.