Real Madrid are prepared to sell Dani Ceballos on a permanent basis this summer, should any club meet their £22m price tag.
The 24-year-old is currently in his second straight season on loan with the Gunners and he has already turned out 62 times for them.
Gunners boss Mikel Arteta has rotated the Spaniard with the competition for places, but still remains a huge admirer of the midfielder.
According to La Razon, Los Blancos are prepared to part ways with Ceballos on a permanent basis as he is not in the plans of Zidane.
The club have quoted a price of around £22m to interested clubs and the Gunners have yet to decide whether they will pay the fee.
Aside from the Gunners, Ceballos’ ex-club Real Betis may attempt to sign him this summer, if Nabil Fekir heads through the exit door.