Arsenal are targeting Olympique Lyon winger Rachid Ghezzal.
The midfielder is in new contract talks with OL, but rival interest is stalling negotiations.
Foot Mercato says Arsenal and Everton are interested, along with Atletico Madrid and Valencia.
Ghezzal is off contract in June and can discuss pre-contract terms with foreign clubs about a Bosman deal.
The midfielder is currently with Algeria for their Africa Cup of Nations campaign.