Arsenal are prepared to trigger Diego Costa's £32m release fee at Atletico Madrid, according to a report.
The 25-year-old has been in scintillating form this season, notching 19 goals in 17 appearances in La Liga.
Liverpool and Chelsea have also been linked with moves for the Brazilian, who has opted to play international football for Spain.
However, the Daily Star reports that the Gunners will try to beat their Premier League rivals to the punch as Arsene Wenger finds himself desperately short of strikers.
Olivier Giroud has been ruled out for six weeks with an ankle injury, whereas Nicklas Bendtner sprained his ankle when scoring the opening goal in a 2-0 win over Cardiff City on New Year's Day.
