Arsenal will need to pay around £52m to sign Real Madrid midfielder Martin Odegaard this summer.
Odegaard spent the backend of last season on loan with the Gunners, registering two goals and two assists from 20 games.
The club are open to re-signing him permanently this summer, but Los Blancos are unlikely to sanction his sale on the cheap.
Los Blancos believe Odegaard has plenty of potential, but they are disappointed with his decision to leave the club in January.
He has two years remaining on his contract, and Defensa Central reports that they could demand around £52m for his sale.
The Gunners have identified Norwich City’s Emiliano Buendia as the alternate option to bolster their attack this summer.
They have yet to make an approach for the Argentine, who bagged 15 goals and 17 assists for the Canaries last season.