Arsenal 'prepared to break the bank' for La Liga star with €500 million release clause

Arsenal are prepared to break the bank with a stunning transfer for a player who Mikel Arteta is incredibly high on, reports claim.

After finally getting over the line in the Premier League with a first triumph in 22 years last season, the Gunners have been busy in the transfer market as they look to defend their crown.

In terms of the major signings, Bruno Guimaraes has strengthened Arsenal's midfield options after joining in a £75 million switch from Newcastle, while winger Christos Tzolis has signed from Club Brugge for a fee of £34 million.

However, a report from AS carries information on the player that Arteta is desperate to bring in.

Jorge García Hernández, the newspaper's editor in chief when it comes to football, claims that Arteta was very impressed with Atletico Madrid defender Marc Pubill when he came up against his side in the Champions League last season.

Arsenal won 2-1 on aggregate in the semi-finals and Pubill started both fixtures, playing 90 minutes in both instances.

His displays at the heart of the backline were so strong, it's claimed that Arteta instructed sporting director Andrea Berta to sign him and an attempt was made.

It was an even reported that Arsenal were 'prepared to break the bank'. However, such a deal will prove tricky as Atleti value him highly and the defender has a €500 million release clause in his contract, which was signed last summer.

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Los Rojiblancos are reportedly working to tie him down to new and improved terms to showcase his importance.

Pubill's versatility is a huge upside as he is capable of playing at both full-back and centre-back to a high level.

Although Arteta "wants him on his team", the former Almeria man is deemed to be be 'non-transferable' and initially refused proposals as he is committed to the project at Atletico Madrid.

He was part of the Spain squad which won the World Cup in New Jersey this summer.

Mikel Arteta responds to speculation about Arsenal star

Leandro Trossard, Jakob Kiwior and Christian Norgaard have all moved on from Arsenal this summer but there has also been strong speculation surrounding the future of Myles Lewis-Skelly, who has been heavily linked with both Manchester United and Chelsea and is valued at around £45 million.

Earlier this week reports claimed that both Premier League clubs were offered the chance to sign the 19-year-old, who made just five league starts last term.

Lewis-Skelly scored at the Emirates in a friendly with Como on Wednesday night and his celebration caught the eye after he tapped the Arsenal badge and made a heart gesture.

Asked about the celebration and recent links, Arteta said: "It's good to be emotional after scoring; you should be emotional when you score a goal.

”He's a very emotional player, you see with his gestures on the pitch.

”I'm not going to talk about speculation. If there is speculation about our players, it's a good sign; that means our players attract attention and are doing a good job."

He is expected to start in midfield for Sunday's Community Shield clash with Manchester City.