Arsenal are one of three major powers chasing a deal for Porto wing-back Miguel Layun.
The Mexico international spent last season on-loan at Sevilla, but they face being crowded out of a permanent deal for the midfielder.
Record says Porto are now anticipating an auction with three big spenders in contact.
Arsenal have been joined by AC Milan and Atletico Madrid in their pursuit of Layun, 30.
Last season, Layun played 16 games for Sevilla and scored two goals.