Arsenal have reportedly identified Norwich City's Emiliano Buendia as the perfect replacement for Martin Odegaard.
Odegaard is currently on loan from Real Madrid, and while Gunners boss Mikel Arteta is keen to keep him in north London no official offer has yet been made.
The Norwegian star also says he is happy at Arsenal but if nothing comes to fruition in the coming weeks, Odegaard will return to parent club Madrid and Arsenal will be forced to target another midfielder to strengthen their side.
The club's top pick is Buendia and Goal reports Arsenal's technical director Edu is the driving force behind making the transfer happen.
Edu believes Buendia would be a valuable addition to Arsenal and after the campaign he has had it's clear to see why.
The 24-year-old has been named Championship player of the season after helping Norwich secure promotion too the Premier League.
He also scored 15 goals and made 17 assists from 41 appearances in all competitions - more than any other player in the Championship, and Norwich have slapped a £40million price tag on his head.
The Gunners are currently ninth in the Premier League and look set to be without European football for the first time in 25 years next season.
But it is understood that Arteta has the financial backing ahead of the summer transfer window.