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Arsenal and Liverpool are reportedly monitoring Dani Ceballos, the Real Betis 19-year-old likened to Cesc Fabregas.
With Ceballos out of contract at the end of the season, various clubs are understood to be jostling for position in the hope of signing the promising midfielder.
Having made 34 appearances last term to help Real Betis gain promotion to La Liga, he's featured in his club's two top-flight matches this term following his participation in Spain's victorious Under-19 European Championship campaign over the summer.
Aware that Betis may be willing to sell in January in fear of Ceballos leaving for free at the end of the season, Arsenal and Liverpool are reportedly considering triggering his £7.5m release clause. Scouts from both clubs are understood to have recently watched him in action.
Show all 28 1 /28Players linked with Arsenal this summer Players linked with Arsenal this summer STRIKERS: Karim Benzema (Real Madrid) A rumour that went on for the longest time before the Frenchman squashed it with a Tweet
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Players linked with Arsenal this summer Edinson Cavani (PSG) Arsenal were said to be unwilling to pay the £50m fee as, at 28, he has no sell on value
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Players linked with Arsenal this summer Anthony Martial (Monaco) Arsenal are probably glad they didn't go in for the teenager, given his huge fee...
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Players linked with Arsenal this summer Zlatan Ibrahimovic (PSG) Linked to the club throughout the summer but ultimately stayed in Paris
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Players linked with Arsenal this summer Pierre-Emerick Aubameyang (Borussia Dortmund) The lightning quick forward has seemingly been linked to the Gunners forever, but the German club were keen to keep him
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Players linked with Arsenal this summer Gonzalo Higuain (Napoli) Appeared a genuine target, but a huge release clause proved obstructive
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Players linked with Arsenal this summer Jackson Martinez (Ateltico Madrid) Made all the right noises in wanting to join from Porto before Atletico Madrid made the move
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Players linked with Arsenal this summer Fernando Llorente (Sevilla) Arsenal already have a strong, immobile, handsome striker - why would they need another?
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Players linked with Arsenal this summer Aleksandr Kokorin (Dynamo Moscow) An unlikely rumour, considering the Russian's modest goal record
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Players linked with Arsenal this summer Alexandre Lacazette (Lyon) Another that seemed a perfect fit for Arsenal, extremely quick, French and with a superb eye for goal
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Players linked with Arsenal this summer WINGERS: Marco Reus (Borussia Dortmund) A world class talent who seems set to eventually join one of the Spanish giants. Playing in the same position as Alexis Sanchez, Arsenal probably didn't need him
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Players linked with Arsenal this summer Mario Gotze (Bayern Munich) Said to be unhappy at his lack of game time under Pep Guardiola but that seems set to change this coming season
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Players linked with Arsenal this summer Pedro (Chelsea) Interest seemed to fall away quite quickly after Manchester United and Chelsea got wind of his intention to leave
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Players linked with Arsenal this summer MIDFIELDERS: Grzegorz Krychowiak (Sevilla) The Polish midfielder is a step up in experience and class to the ever-improving Francis Coquelin
Players linked with Arsenal this summer Adrien Rabiot (PSG) The talented youngster has long been linked with a move to north London, but it seems strange that PSG would want to lose one their prize assets
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Players linked with Arsenal this summer Morgan Schneiderlin (Manchester United) Long linked before deeming the former Southampton star's fee too pricey - United didn't
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Players linked with Arsenal this summer Geoffrey Kondogbia (Inter) Like Schneiderlin, had been long mooted for a move to Arsenal but the Gunners were outspent by Inter's £25m move
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Players linked with Arsenal this summer William Carvalho (Sporting Lisbon) We could just copy and paste the previous two entries. An injury over the summer and a high price-tag ended speculation
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Players linked with Arsenal this summer James Milner (Liverpool) The lure of Champions League football wasn't enough for the former Manchester City man, who wanted a guaranteed starting place in central midfield
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Players linked with Arsenal this summer Victor Wanyama (Southampton) Said 'it would be nice' to move to Arsenal a couple of months ago. Never seemed to be much interest from Arsenal's side
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Players linked with Arsenal this summer Sami Khedira (Juventus) Arsenal were in negotiations for months and months but didn't offer enough in wages. Juventus nearly won the treble last season and coughed up
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Players linked with Arsenal this summer Arturo Vidal (Bayern Munich) Arsenal and Manchester United had concerns about his knees and his fee. Pep Guardiola had no such worry
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Players linked with Arsenal this summer Moussa Sissoko (Newcastle) Perennially Newcastle's best player, the powerful Frenchman is versatile and impressive - would have made a good addition to the squad.
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Players linked with Arsenal this summer DEFENDERS: Chris Smalling (Manchester United) The Gunners were linked with a £12m move but United never wanted to sell - a wise choice given his impressive start to the season
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Players linked with Arsenal this summer Ezequiel Garay (Zenit St Petersburg) The Argentina defender is forever linked with a move to the Premier League. Appears to be a name just plucked out of thin air whenever a team is in need of a centre-back
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Players linked with Arsenal this summer Tyrone Mings (Bournemouth) Has all the tools to be a huge success (speed, strength, height) but £8m proved to much of a stretch for the inexperienced defender
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Players linked with Arsenal this summer Kostas Manolas (Roma) Was a target no summer but rumours this time round seemed a bit baseless
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Players linked with Arsenal this summer Loic Perrin (Saint-Etienne) Just plain strange
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Ceballos will be allowed to speak to prospective clubs in January, at which point he will be free to sign a pre-contract agreement.
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