Real Madrid have set their asking price for Gonzalo Higuain.

The London Evening Standard says Arsenal and Juventus have been told they will have to pay £25.5million to sign Higuain from Real Madrid.

Real president Florentino Perez is understood to have held talks with officials from the Serie A club at the weekend, while the Gunners have also made contact in a bid to make the 25-year-old their first major summer signing.

Perez is demanding €30m (£25.5m) for Higuain but although Arsenal have indicated they are prepared to break their club record, it is believed they value the striker at around £20m.