Arsenal are ready to offer £17.8million for Karim Benzema with Real Madrid ready to sell, according to The Metro.
The French forward has been heavily linked with a move away from the Spanish capital this season despite his contract running to 2019.
Manchester United have also been linked with a £30m bid to sign Real Madrid striker this summer, but a move to Old Trafford could mean a massive blow for Wenger who is said to have turned his attentions to adding a top class striker to his ranks.
Benzema could also be used as a sweetener by Real in their attempts to sign David de Gea from United.