Vargas spent last season on loan at Queens Park Rangers, and while the campaign was a testing one for the Hoops—they ended up dropping out of the division—Vargas emerged with some credit.
He managed three goals and two assists in 21 appearances for Harry Redknapp and then Chris Ramsey and he was always going to be highly unlikely to drop down to the second tier with the Loftus Road outfit.
Vargas returned to Napoli at the end of his loan deal, but the Italian side are understood to be open to a sale due to their own need for money.
Arsenal and Valencia have both been linked to the attacker, with the Metro reporting that it would take a fee of approximately £11.3 million to snare the Chilean forward.
According to France Football [via Le 10 Sport], Marcelo Bielsa—who managed Vargas during his time with La Roja—is understood to also be considering the forward as he looks to restructure his forward line.
However, according to Biachi—a journalist with L’Equipe 21 [again as per Le 10 Sport]—OM are unlikely to sign the player, with Vargas looking to remain at the highest level of the game.
“It’s an interesting dossier for OM,” she began, “Vargas is still being tracked by a lot of clubs.
“There are some very important offers from the Emirates, but [Jorge] Sampaoli—his national team coach with Chile—has advised him to play with a club who allow him to stay at the highest level to play with [La Roja].
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“Honestly,” she continued, “I don’t really believe in [the chances of the move] for Marseille, because there will be a lot of competition.
“Napoli, who need the money, will not make concessions.”
The journalist’s comments ought to come as a major boost to Arsenal, who can not only give Vargas the opportunity to remain in the Premier League, but they can also offer him the possibility of Champions League football and the possibility of a title challenge.
While Valencia have qualified for the Champions League, they will have to pass through the play-off rounds in order to guarantee their place in the group stages.