Arsenal are reportedly ready to fork out €50m (£44.2m) to win the race for Atalanta BC striker Rasmus Hojlund in the summer transfer window.
The 20-year-old has hit the ground running in Serie A since leaving Sturm Graz in the summer, scoring eight goals and providing two assists in his first 25 games for Atalanta.
Hojlund has netted six goals in 12 Serie A games since the turn of the year, and his exploits have understandably attracted the interest of several top European clubs.
Arsenal and Real Madrid are both said to be keeping tabs on the development of Hojlund, who is under contract at La Dea until the end of the 2026-27 season.
According to TuttoAtalanta.com, Arsenal are now leading the race for the Denmark international alongside Newcastle United, but he will not be sold on the cheap.
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Both sides are supposedly willing to offer £44.2m to prise Hojlund away from Italy, although it is unclear if Atalanta would accept such a fee or try to drive the price up.
Newcastle would have the financial edge on Arsenal, but Mikel Arteta's title-chasing side are close to guaranteeing Champions League football for next season, while the Magpies sit fifth in the rankings but are just two points off Tottenham Hotspur with two games in hand.
Hojlund came through the youth ranks at Copenhagen before transferring to Austrian giants Sturm Graz in 2022, where he registered 12 goals and four assists from 21 games in his only half-season at the club.
Atalanta paid €17.2m (£15.2m) to bring the Dane to Serie A for the 2022-23 season, and Gian Piero Gasperini's side are outsiders for Champions League football, lying sixth in the table thanks to Hojlund's efforts.
The 6ft 3in striker is currently away with the Denmark squad for their upcoming Euro 2024 qualifiers with Finland and Kazakhstan, aiming to build on his first two senior caps from last year's UEFA Nations League.
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Arsenal spent big last summer to bring Gabriel Jesus to the Emirates Stadium from Manchester City, but the Brazil international has missed a good chunk of the season due to knee surgery.
In Jesus's absence, Eddie Nketiah has stepped up to the plate alongside January arrival Leandro Trossard, while Folarin Balogun is making waves out on loan with Reims in Ligue 1.
The 21-year-old has shone for Will Still's side with 17 goals in 27 Ligue 1 matches, sitting joint-third in the Golden Boot race behind Kylian Mbappe and Jonathan David, who have struck 19 each.
Balogun will return to Arsenal upon the completion of his loan spell with Reims, but with his contract due to expire in 2025, the striker's long-term future is clouded in uncertainty.
Balogun recently affirmed that his Gunners future will be decided at the end of the season, but selling him for a reasonable sum of money would free up space and funds for Arsenal to pursue Hojlund.
