Arsenal are reportedly willing to sell Kai Havertz for €40m (£35m) next year, with the German struggling to make his mark since arriving at the Emirates Stadium.
The Gunners paid in the region of £65m to sign the attacker from Chelsea during the summer transfer window, and he has made 17 appearances for the North London club in all competitions.
Havertz has only managed one goal and one assist for his new side, though, with his strike coming from the penalty spot against Bournemouth in the Premier League at the end of September.
The attacker was again given a starting role against Newcastle United last weekend but failed to make his mark and was fortunate not to receive a red card for a rash first-half challenge on Sean Longstaff.
Havertz has a contract with Mikel Arteta's side until June 2028, but there is already speculation surrounding his future at the Emirates Stadium.
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According to Defensa Central, Arsenal are open to selling Havertz for €40m (£35m) next year, with Real Madrid believed to be keeping a close eye on the situation.
Los Blancos were linked with the Germany international before he left Chelsea, but it was Arsenal that ultimately won the race for his signature.
Arteta has used Havertz in a deeper area this season, but the positional change has not worked, as he is still struggling to influence matches on a consistent basis.
The attacker has started seven times in the Premier League this season, while he has been named in the first XI in two of his side's three Champions League outings in 2023-24.
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Real Madrid are still said to be admirers of Havertz, but the Spanish outfit are not planning to make any signings during the January transfer window.
Havertz was regarded as one of the best young talents in European football during his time at Bayer Leverkusen, scoring 46 goals and registering 31 assists in 150 appearances for the German side.
Chelsea won the race for his signature in 2020, but he only managed 32 goals and 15 assists in 139 appearances for the Blues before being allowed to depart.
There remains much speculation over Havertz's best position, as he was primarily used as a forward for Chelsea last season but largely struggled to make his mark, only managing nine goals and one assist in 47 appearances.