Karim Benzema could eventually move to Arsenal this summer if Arsene Wenger tables a bid of at least £45million.
Real Madrid are reluctant to allow the French striker leave the Santiago Bernabeu, but it is understood that if the Gunners break their own transfer record, a move might happen.
Wenger prised Mesut Ozil from Madrid two years ago for a record fee of £42.5m on transfer deadline day and is desperate to land Benzema this year.
When asked about Benzema’s future, new Madrid coach Rafa Benitez said: “Hopefully everyone will continue here and we can win the league.”
Benitez has been experimenting with a formation that sees Cristiano Ronaldo and Gareth Bale take central positions in attack – a move that could see Benzema seek a move away.
If the 27-year-old quits the La Liga side, Madrid are likely to begin negotiations to bring in Marco Reus from Borussia Dortmund.