Arsenal ‘do not want to panic buy a new creator’ at the current moment in time, instead preferring to save the bulk of their money until the summer.
Isco is also wanted by Sevilla, with former Real boss Julen Lopetegui eyeing a reunion with the 28-year-old.
And Arsenal also have Norwich playmaker Emiliano Buendia on their radar, with the midfielder helping the Canaries to the top of the Championship table.
Arsenal are said to be looking for new defenders, too, with David Luiz, Shkodran Mustafi and Sokratis all out of contract at the end of the season.
And whether they’re able to strengthen Arteta’s faltering side remains to be seen.