Arsenal have been offered Real Madrid striker Mariano Diaz in a cut-price deal.
The Gunners have a transfer budget of just £40m following the failure to qualify for the Champions League.
That has dented Arsenal’s hopes of landing Wilfried Zaha while they also look set to miss out on Ryan Fraser and Yannick Carrasco.
But Diaz is surplus to requirements at Real Madrid and Arsenal have been sounded out about taking him for a cut-price £18m.
The Gunners are down a forward since allowing Danny Welbeck to leave the club.
But having made an approach to Real for Lucas Vazquez as a possible option to fill the requirement for a wide man, the opportunity to sign Diaz has now presented itself.
He still has four years left on his contract with the Spanish giants but they need to sell after spending big this summer.
And Diaz, who made 13 appearances in La Liga last season, scoring three times, is one of several players told they can leave to help balance the books.
It remains to be seen whether Emery would have any interest in the player but it is understood the opportunity to sign him was not dismissed out of hand.