The agent of Fran Merida says Arsenal will get first option on the midfielder.
Atletico Madrid are chasing the Spain U20 star, who comes off contract at the end of the season.
Merida has welcomed their interest, but his agent, Joseba Diaz, said: "Many clubs have contacted me about him, but we want to talk to Arsenal and then decide."
Click here for more Arsenal news and Wenger comment