Arsenal must move quickly to tie up a deal for Velez Sarsfield midfielder Ricky Alvarez.
The Daily Mail says Arsenal boss Arsene Wenger must also be alarmed that Inter Milan have moved to hijack his move for Argentinian playmaker Alvarez.
Arsenal chief scout Steve Rowley was in Argentina earlier this month to tie up a deal for Alvarez, but found difficulty in striking an agreement with the 23-year-old's advisers.
And new Inter Milan boss Gian Piero Gasperini has targeted Alvarez as his first signing after tabling an official bid for the £12million-rated man, who is also target for Palermo, Roma and Malaga.
