Arsenal are set to battle with club legend Thierry Henry for the signature of Gelson Martins from Atletico Madrid, according to DailyStar.
The 23 year old winger has scored one goal in 12 appearances during this season.
The attacker was heavily linked with a move to Arsenal in the summer before making his move from Sporting to Atletico.
Portuguese daily newspaper O Jogo writes that both clubs have submitted ‘important proposals’ in their bid to sign Martins.
As Unai Emery has recently claimed, Arsenal will be doing only loan moves in this transfer window.
And a loan move could work well for Atletico as the Spanish club wants to sell Martins and Nikola Kalinic this month to make room for Chelsea striker Alvaro Morata.