Real Madrid will allow Jese Rodriguez, who is a target for Arsenal, to leave if they are offered £21.1million, according to reports from the Metro.
Jese has been heavily linked with a move away from the Santiago Bernabeu, with the winger struggling for regular playing time under manager Rafa Benitez.
His search for first-team football has therefore alerted the Gunners, with reports from Spain suggesting that an Arsenal bid in the region of £21.1million will allow the 22-year-old to depart this coming January.
Gunners manager Arsene Wenger, who recently won the Premier League Manager of the Month accolade, is searching for additional options in midfield after seeing the likes of Theo Walcott and Alex Oxlade-Chamberlain sidelined by injuries.
Jese is still uncapped by the Spain national side, but a successful transfer to the Emirates could potentially give him a long-shot of making the squad for Euro 2016.
Last season, Jese made 23 appearances in all competitions, scoring four goals.