Atletico Madrid have already offered midfielder Thomas Partey a double-your-money salary offer in order to convince the Ghanaian to turn down Arsenal.
Mikel Arteta is keen on signing the midfielder and they are believed to have made contact with his agent in the last two months.
Partey has been a revelation since signing for Atletico but his contract includes an affordable £43.5m release clause and Arsenal are ready to trigger the clause.
However, Atletico are desperate to keep Partey at the club and believe he is worth significantly more than his current release clause.
According to the Guardian, Atletico Madrid have reportedly offered to double Partey’s salary of £65,000-a-week to make him one of the highest earners in the squad.
The new deal would remove Partey’s release clause of £45.3m and replace it with a new release clause worth up to £100m.
That would fend off Arsenal out of a move but it remains to be seen whether the midfielder will agree to extend his stay. Partey still has three years to run on his existing contract.
Arteta is unsure over his summer budget due to the coronavirus crisis and the uncertainty over Arsenal’s chances of qualifying for the UEFA Champions League.
The Gunners are desperate to hold on to skipper Pierre-Emerick Aubameyang and are hopeful that he can be convinced to sign a new deal at the Emirates.
However, with only 15 months left on his current deal, the Arsenal will cash in on Aubameyang this summer window should he tell the club he will not sign a new deal.
Barcelona are also interested in signing the Gabon international but want to sign him for lower than the gunners’ £50m valuation.