Arsenal could be set to land Real Madrid striker Karim Benzema in January for a cut-price deal, according to the Evening Standard.
Spanish giants Madrid remain interested in Liverpool's Luis Suarez and could look to sell the French striker to help fund a potential deal.
Benzema, who has scored just two goals in eight appearances for Madrid this season, has failed to impress new manager Carlo Ancelotti, and it is believed the Italian is beginning to lose patience with the forward.
Having been quoted a £40million figure for the striker in the summer, Madrid are now willing to accept an offer closer to £20million.
Despite costing Madrid £30million in 2009, Ancelotti and president Florentino Perez feel it may be time to move the France international on, with their top replacement still Suarez.
With national colleague Olivier Giroud on fine form this season, it remains to be seen whether Arsene Wenger will swoop for Benzema, though the Arsenal manager is a long-term admirer and tried to sign him in the summer.
Giroud's form has displaced Benzema as Les Bleus first-choice striker, and there remains doubts about whether the pair can play together.
The story comes amid reports that Suarez has told friends he wants to quit Anfield for the Bernabeu.
The Uruguayan was publicly trailed by the Gunners this summer, as Arsenal strangely bid £40,000,001 - a few they were led to believe would trigger a release clause in the striker's contract.
A move for Benzema would reunite the ex-Lyon forward with former team-mate Mesut Ozil who switched to the Emirates on deadline-day.
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