Atletico Madrid have reportedly entered the race to sign Arsenal attacker Alexis Sanchez this summer.
The 28-year-old has failed to agree terms on a new deal with the Gunners and could consequently be sold on ahead of next season as he enters the final 12 months of his contract.
Arsenal's bitter rivals Chelsea have been linked with a shock swoop for the Chilean in recent days and, according to AS, La Liga giants Atletico have now thrown their hat in the ring too.
The Spanish publication claims that Diego Simeone's side will make a "cheeky" offer of £35m for the midfielder but could be hampered in their efforts by a transfer ban imposed by FIFA.
The side were unable to bring in new players in January under the ban, which covers both transfer windows in 2017, but are said to be hopeful of winning an appeal to have it reduced.
Meanwhile, Arsenal manager Arsene Wenger has insisted that Alexis remains "happy" at the Emirates.
Neil Wilkes
