The 18-year-old is expected to leave Real Madrid on loan this summer, just one year after joining from River Plate for a reported €45 million.
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Mastantuono struggled for regular game time under Xabi Alonso and then Arbeloa last season, starting 11 of his 23 LaLiga games, scoring once.
According to AS, Arbeloa’s new club, Fulham, are now the leading candidates to take Mastantuono for the 2026-27 season.
Cesc Fabregas’ Como had previously been linked, but that has since dried up. Fellow Serie A side Fiorentina are the latest club to show an interest.