Spaniard is also wanted by both Tottenham Hotspur and Liverpool.
Premier League leaders Arsenal will have to pay a £1.7m loan fee in order to secure the services of in-demand Real Madrid front man Alvaro Morata until the end of the season, according to reports in the Daily Mail.
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The north London club have been closely monitoring the Spain Under-21 international for some time now, however, head coach Arsene Wenger has been forced to step up his interest in Morata in recent weeks following a spate of untimely injuries suffered by a number of his key attacking players.
In fact, the Gunners could even be without Olivier Giroud, Nicklas Bendtner and Theo Walcott when they take on Premier League strugglers Aston Villa at Villa Park on Monday night, and now as a result, Wenger is understood to be keen to bring another striker to the Emirates in the January transfer window.
However, the Frenchman is also said to only be interested in taking a forward on loan until the end of the campaign, rather than sign a big-money backup, with a move for Morata his preferred option.
And Arsenal have now been given renewed hope in their bid to land the 21-year-old after los Blancos informed their rivals the young marksman would cost them €2m for a six-month loan deal.
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