The Gunners were linked with the French international throughout the summer as Arsene Wenger set about strengthening his attack.
The Londoners were unable to lure a top class centre-forward to the Emirates Stadium, but speculation suggests that they plan to up their activity this winter.
Benzema is thought to be Wenger’s favoured target after watching him for some time.
However, despite claims that Real may be willing to let the 25-year-old leave, Carlo Ancelotti wants to keep him at the Bernabeu.
The Italian has very few alternatives to Benzema after allowing Gonzalo Higuain to join Napoli.
It was believed that Real may sanction a sale in order to free up funds for a move for Liverpool’s Luis Suarez, but club president Florentino Perez has said that there will be no spending in January.
Frustrated members of the club’s supporters booed Benzema over the weekend, despite him being a part of the side which beat Getafe 4-1.
Arsenal may instead make a fresh move for Suarez after seeing multiple bids rejected during the last transfer window.
Should Arsenal make a move for Karim Benzema?
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