Arsenal are planning to use Alexis Sanchez in a sensational swap-deal to get Alvaro Morata from Real Madrid.
Don Balón is reporting that the Gunners could offer the unsettled Chilean striker to the Spanish giants in return for the services of Morata.
Arsenal have previously been keen on Morata, who has struggled upon his return to Real from Juventus this season, and are now eager for him to replace Alexis who is looking to leave the Emirates this summer.
Chelsea are being heavily tipped to lure Morata from the Santiago Bernabeu but the reports from Spain indicate that Arsenal will make their London rivals work for the player by throwing top scorer Alexis into the mix.
PSG and Juventus are also showing plenty of interest in Alexis who is reported to have made up his mind on leaving North London.