Arsenal could reportedly focus on signing Philippe Coutinho from Barcelona, if they are unable to keep Martin Odegaard next season.
Odegaard joined the club on loan from Real Madrid in January and he has been hugely impressive in his 12 appearances.
The Gunners are already exploring another loan deal for Odegaard while they are also open to signing him on a permanent basis.
According to AS, the club have identified Coutinho as the alternative target, if Los Blancos turn down their proposal for Odegaard.
Coutinho is currently out on the sidelines with a knee injury and he may not play for the Catalan giants for the rest of the season.
The Brazilian will enter the final two years of his contract this summer and it is claimed that he could be sold for just £35m.
Coutinho is also on the radar of Paris Saint-Germain and Juventus, but the Gunners have a good relationship with his agent Kia Joorabchian.