The Gunners are set to smash their record transfer in order to land the Argentine.
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Arsenal are set to offer Real Madrid £22 million for want-away striker Gonzalo Higuain this week according to the Daily Mirror.
Arsene Wenger hopes over signing the goal scorer have improved dramatically after Juventus had a £18 million bid turned down by the Spanish giants.
Higuain would be the type of big name that the Arsenal boss has been looking to sign for awhile and the Argentine is sure to bring plenty of goals with him to the Emirates.
However, last week Real Madrid President Florentino Perez stated that the Gunners shouldn’t bother bidding for Higuain if they are only going to offer £24 million.
Higuain has been a target for Arsenal all season and it is hoped that signing the Argentine will spark a spending spree at the Emirates.
The striker has been an important member of Real Madrid’s side for sometime but in their final game of the season, the Argentine announced that he intended to leave the club as he was seeking a new challenge.
While he named Juventus as a possible destination, the news that the Italian champions have had a bid turned down will increase the sense that the Argentine will be playing at the Emirates next season.