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Published 05:11 12 Dec 2014 GMT
Updated 06:16 12 Dec 2014 GMT
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The battle for Reus may not be the only bidding war in which Arsenal are involved come January.
The Gunners are also ready to throw their hat in the ring in the race for Juventus midfielder Paul Pogba.
The Frenchman moved to Italy in 2012 after the player didn't sign a new contract with Alex Ferguson's Manchester United.
21-year-old Pogba signed a contract extension for Juventus earlier this season but the Italian giants could be willing to let the midfield starlet go for a fee of around €50million.
Chelsea and Manchester City are great admirers of the France international and likely have more financial clout than Arsenal but Wenger has had a tendency to attract French players to North London over the years. (Daily Express)
Nemanja Vidic will not be making a sensational return to Old Trafford according to CalcioMercato.
The agent of the 33-year-old defender, who spent eight year with Manchester United, was quick to deny the rumours linking the Serbian with a move back to the Premier League.
He said: "It is lies. Nemanja has a three-year deal with Inter and will not leave Milan.
"There has been little respect shown towards my client. As soon as Inter lost a few games, people did not think twice to attack Vidic and point to him as the sole culprit. But I repeat: he will not leave Inter."
Real Madrid may look to take advantage of Raheem Sterling's reluctance to sign a new contract with Liverpool.
The Champions League holders have been long-term admirers of the 19-year-old winger who felt hard done by when offered a new contract worth £70,000 ( €89,000) which Sterling felt was too low.
The contract dispute will have Carlo Ancelotti licking his lips at the prospect of signing the England international, who may move to Madrid to continue his ambition to play at the pinnacle of European football. (Daily Star)
In Irish news, Galway FC's Ryan Manning could be set for a Premier League switch after piquing the curiosity of Queen's Park Rangers.
18-year-old Manning can play in either midfield or in a forward role and his versatility is something that Harry Redknapp will be looking to bring to Loftus Road.
It's understood that Manning has also spoken to Spurs but that the Republic of Ireland U19 international would favour a move to QPR.
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