The Gunners are being linked with a move for another attacking midfielder according to reports from Portugal this weekend.
Unai Emery has been forced to dip into the transfer market to find a replacement for Aaron Ramsey, who is now playing in his final days at the Emirates stadium.
The Gunners have been linked with a number of attackers this month and the latest target for Emery appears to be Gelson Martins.
According to Portuguese newspaper O Jogo, Arsenal are interested in signing Martins and will try to secure a deal before the end of January.
O Jogo are reporting that the Gunners have submitted an ‘important proposal’ in their bid to sign the youngster.
Martins has rarely featured for Atletico Madrid this season with the La Liga side seemingly keen on offloading him at the right opportunity.
Former Gunner Thierry Henry is also claimed to be targeting Martins, having also made an offer to sign the player.