Real Madrid are preparing a 60-million-euro offer for Arsenal captain Cesc Fabregas, a deal that could also see the transfer of France striker Karim Benzema to the Gunners, a Spanish sports newspaper said on Friday.
Fabregas, who has been in the sights of Real as well as rivals Barcelona for some time, is now the Madrid club's "number one objective" for next season, the daily Marca said.
The 60-million-euro fee that the big-spending club is proposing is more than that offered by Barca for the 23-year-old midfielder, the paper said.
The out-of-favour Benzema could be transferred to the London club as part of the deal.
Arsenal coach Arsene Wenger won a battle to stop Fabregas joining Barcelona last year close-season even though the Gunners' skipper had made it clear he wanted to return to the club where he started his career.
"I am a Barca supporters. I am a member (of a club) like my grandfather, my uncle, my cousin... I am Catalan," he said last year.