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Atlético Madrid want to take Arsenal right-back Cedric Soares on loan until the end of the season.
They are seeking cover in that area after selling Kieran Trippier to Newcastle United for £12 million.
Any deal for Soares may include an option to buy him in the summer.
Soares joined the Gunners on a six-month loan deal from Southampton in January 2020, before the move became permanent after he became a free agent.
However, he has struggled to nail down a first-team place at the Emirates, and is firmly behind Japanese international Takehiro Tomayasi in the pecking order under Mikel Arteta. His lack of quality was clearly evident in the Gunners third round defeat to Nottingham Forest on Sunday when he deputised for the injured Tomiyasu.
The Gunners, though, may be reluctant to let him go given they are short of cover in their squad, having just let utility player Ainsley Maitland-Niles move to Roma on loan for the rest of the season.
That would only leave Calum Chambers as their only other recognised right-back, and he too is being linked with a move away from the Emirates.
Andy is an exiled English football fan living in Cyprus. He loves all sports but football is his abiding passion, and he still has dreams every now and then about scoring the winning goal in a Wembley Cup Final, even though his playing days are long gone. He follows most major leagues, across Europe at least, and has a favoured team in each. When he’s not watching, listening, reading or downloading podcasts about football, he spend his time worrying about his beloved Arsenal.