Real Madrid will reportedly offer Arsenal the chance to sign Spanish attacker Jese Rodriguez in the January transfer window.
The 22-year-old has been in and around the first team at Los Blancos since 2011, but has struggled to nail down a regular starting role.
Karim Benzema and Gareth Bale are now back to fitness following injury problems and their return is expected to further limit Jese's chances of first-team action.
The Spaniard has long been linked with a move away from the Bernabeu and according to Don Balon, Arsenal will be given the opportunity to make an offer when the winter window opens next month.
Jese, who has been at Real Madrid since 2007, was only given the final 10 minutes in Real Madrid's 4-1 win over Getafe at the weekend.