Chelsea and Arsenal are watching Karim Benzema's situation at Real Madrid.

Don Balon says Real could sell Benzema next summer as they believe it would be their final opportunity to cash on him.

He will turn 29 later this month but Real still reportedly reckon they could demand upwards of £50m for him.

Chelsea, Arsenal and French giants Paris St-Germain are all interested in the centre-forward and Real could look to sell so they can sign new, young players as soon as their transfer ban is lifted.

The Gunners have been repeatedly linked with Benzema over the years and Arsene Wenger is known to be a big fan.