The North London outfit Tottenham are reportedly willing to snap up the signature of their London rivals target Dani Ceballos from the Spanish La Liga outfit Real Madrid in the coming summer transfer window.
The report claims that in a bid to defeat Arsenal in the race for the star midfielder.
Tottenham is willing to spend between €40 million (£35.25m) and €50m (£44.96m) to land the 22-year-old.
Dani Ceballos has been on the radar of The Gunners team for a number of months but they could be set to miss out on his signature with Tottenham keen to land him as well in the summer transfer window.
Manager Unai Emery had expected Dani Ceballos to join the Emirates Stadium as a replacement for Wales international Aaron Ramsey.
The former Cardiff City midfielder turned down the Arsenal team for the Italian Serie A outfit Juventus by agreeing on a four-year deal with the club.
However, Arsenal may be forced to look out for other options knowing that they will not be able to compete with Tottenham for the Star midfielder as a result of the price tag on him.
Meanwhile, the Spanish manager is keen to add more strength to his squad so that he can be able to compete for titles in the coming season.