Arsenal transfer news and rumours: Isco 'offered' for £25m, Gunners ahead in Nolito race, '£23m Andriy Yarmolenko bid'

The latest transfer news and rumours coming out of the Emirates

Real Madrid midfielder Isco is believed to be available for £25m if Arsenal wish to sign him in the summer, although they will face competition from Manchester City should they follow up their interest with an official offer.

Isco is believed to be unhappy with life at Real, according to his agent, and despite starting 12 of Real’s 21 matches this season, Spanish newspaper El Confidencial claims that a move to Arsenal could be on the cards.

However, the problem for Arsenal is that Isco played under City manager Manuel Pellegrini during his time as Malaga head coach, and the lure of a possible link-up with Pep Guardiola – should he takeover at City in the summer as expected – could persuade him to the Etihad instead of London.

Arsenal are also believed to be leading the race to sign Celta Vigo striker Nolito after Barcelona pulled the plug on their pursuit of the 29-year-old, according to reports in Spain.

Nolito has been linked with a move to the Gunners, but they saw Barcelona steam in with an attempt to bring the Spain international back to the Nou Camp to provide cover for Lionel Messi, Neymar and Luis Suarez.

However, Spanish newspaper Sport reports that Barcelona will no longer pursue Nolito, and have added that Arsenal are favourites to sign the former Benfica amd Granada forward.

What to expect from Arsenal this transfer window

Arsenal are also claimed to have had a £23m bid for Dynamo Kiev wing Andriy Yarmolenko, who has previously attracted interest from Liverpool and Everton as well as north London rivals Tottenham.

January Transfer window - completed deals

Ukrainian news outlet Sport claim that Kiev have already accepted an offer from the Gunners, although no confirmation of talks or negotiations have come from the player’s camp. Should Arsenal go through with a move for the Ukraine international, Yarmolenko would be in direct competition with the likes of Alexis Sanchez, Theo Walcott and Joel Campbell to play out wide.

Finally, Arsenal right-back Mathieu Debuchy is on his way out of the club, but will need to decide between Sunderland and Aston Villa after both clubs moved to take the France international on loan.

Arsenal manager Arsene Wenger has publicly admitted that he expects to see the right-back leave the club before the January transfer deadline on Monday, though the final decision over who he will join will be left to Debuchy himself.

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