Arsenal have had a £17.6million bid for Juan Cuadrado rejected by Juventus.
With Alexis Sanchez likely to leave the Emirates this summer, the Gunners are in the market for a replacement.
And are targeting the Colombian — but face serious competition from Tottenham.
Juventus are looking for around £30m before agreeing to sell.
Cuadrado joined the Serie A giants in the summer of 2015 after an underwhelming six-month spell at Chelsea.
Despite proving his worth, he has struggled to nail down a starting place — and Massimiliano Allegri would be willing to allow him to leave in order to fund other moves.
Juventus are keen on hot shot Federico Bernardeschi, but know that Fiorentina won’t sell their prize asset to their arch-rivals on the cheap.
While they are also closing in on a deal for Bayern Munich ace Douglas Costa.
Arsene Wenger is keen for flare players in the eventuality of losing Sanchez, and Cuadrado fits the bill.
The Chilean international is a target for Manchester City and Bayern.
Cuadrado’s time at Chelsea is possibly misleading as he joined midway through a season — and was competing with red-hot Eden Hazard and Willian for a starting berth.
The 29-year-old is extremely pacey and is comfortable anywhere up-and-down the right flank.
Tottenham, meanwhile, are looking to add more quality to their starting line-up ahead of what could prove to be a difficult campaign.
Last season, Mauricio Pochettino’s men struggled in the Champions League, bowing out at the first hurdle — and will want to improve on that this time around.
While the move to Wembley proved problematic in Europe last term and could prove an issue once again this campaign.
Cuadrado has experience at some of Europe’s top clubs and played in a Champions League final.
The former Udinese man would add quality to the squad and wouldn’t bring any ego which could upset the incredible dressing room spirit at Spurs.