Arsenal are hoping to beat Manchester United and Real Madrid to the signature of Lucas Silva after becoming the first club to meet Cruzeiro's asking price for the Brazilian midfielder. (Marca)
Arsene Wenger is eager to lure the talented youngster to the Emirates Stadium, and has uncharacteristically agreed to pay €15 million without any haggling.
Silva has already made clear his preference would be to join Real Madrid, but with Carlo Ancelotti struggling to justify paying so much for a relatively unproven talent, it could pave way for the Gunners to sign him unchallenged.
Louis van Gaal has also been credited with an interest, but it's thought the Red Devils boss has plans to bring higher profile players to Old Trafford in the mid-season window.
The 21-year-old has been likened to Kaka back in his homeland, and is being eyed by Wenger to play a deep-lying playmaker role, although this is not the defensive midfield acquisition that Arsenal fans are craving.
Check out all the latest Arsenal news and transfer gossip from today.
Arsenal have been warned against bidding for Marco Reus by Borussia Dortmund's general manager Hans-Joachim Watzke, who remains adamant that the German star will still be at the club next season. (talkSPORT)
The 25-year-old playmaker has been heavily linked with a move away from the Westfalenstadion in 2015, but Watzke insists that Reus remains happy where he is.
Southampton are worried that midfielder Morgan Schneiderlin will force a move away from the club, with Arsenal among the Premier League sides interested in the France international's signature. (Daily Mirror)
Ronald Koeman is ready to make the 25-year-old Saints' highest paid player to keep him at St Mary's and will certainly not be open to the idea of cashing in during the January transfer window.
Arsene Wenger has been placed on red alert after Martin Montoya's agent hinted that the Spanish defender is looking to leave Barcelona in January. (The Express)
The talented right-back has made just one solitary appearance for Luis Enrique's side this season, and Arsenal are ready to offer him an escape route from Camp Nou.