Inter Milan are demanding Cesc Fabregas in any offer from Arsenal for young striker Mario Balotelli.
Gunners boss Arsene Wenger is ready to splash out in January to add firepower to a side that have failed to score in back-to-back defeats without the injured Robin van Persie.
Italy Under 21 international Balotelli is highly rated, but has a difficult relationship with boss Jose Mourinho and was recently criticised by the self-styled 'Special One' in a scathing public assessment of his performances.
The powerful 6ft 2in centre forward is thought to be keen on moving to the Emirates Stadium, where Arsenal would more than double his £25,000 a week deal, according to Gazzetta dello Sport.
However, Mourinho is keen to use the interest to try to engineer a swap deal for Gunners skipper Fabregas.