Arsenal and Newcastle are ready to pounce for cut-price Lazio midfielder Sergej Milinkovic-Savic.

Il Corriere della Sera says Lazio are growing increasingly concerned about the possibility of losing the player for free.

They are said to remain "confident" they can strike a deal on new terms, but there remain issues to be ironed out such as a release clause.

This is where Arsenal and Newcastle step in.

Both are reportedly prepared to offer the Serbian an "emergency transfer" in the summer.

The outlet claims both sides have been "on" Milinkovic-Savic, which would ultimately give them an advantage over long-term admirers Man Utd.

And with an estimated asking price of £45-£53million, he is well within the price range of both.