Atalanta forward Ademola Lookman has already been approached by Arsenal, but Atletico Madrid are in the running too after signing Matteo Ruggeri.
The Nigeria international was named African Player of the Year thanks to his performances for La Dea, including a hat-trick in the Europa League Final victory over Bayer Leverkusen.
He could well be moving on this summer and the most likely option was Arsenal, who revived their negotiations and were not scared off by the €50m asking price.
The Gunners have some real competition, because Atletico Madrid also asked after Lookman for a potential transfer deal.
He scored 20 goals with seven assists in 40 official games for the Bergamo side last season.
Atalanta have already done business with Atletico Madrid in this transfer window, having sold their youth team product Ruggeri to the Spaniards for a fee of circa €20m including add-ons.
The 22-year-old could yet be joined by his teammate Lookman in Madrid next term.
