Arsenal 'willing to pay £50m for Real Madrid ace James Rodriguez'

Arsenal boss Arsene Wenger has reportedly been given the green light to push ahead with his attempt to sign James Rodriguez from Real Madrid.

The Gunners are understood to be one of two sides, along with fallen Italian giants Inter Milan, to have tabled an official offer for the 25-year-old.

According to The Mirror, Arsenal will up their pursuit of the Colombia international with a fresh £50m offer, but that remains well short of Madrid's £70m valuation of the attacking ace.

Rodriguez was left frustrated by a lack of playing time in the big matches during Los Blancos' double-winning campaign, particularly when left out of the squad entirely for the Champions League final win over Juventus.

After being linked with an array of sides, including Arsenal's league rivals Liverpool and Manchester United, the playmaker's stepfather urged the former AS Monaco man to move on this summer.

Arsenal are also said to be keen on Kylian Mbappe, who is at the centre of a bidding war that could surpass the £100m mark.