Arsenal will turn their attention to signing a central midfielder once the Gunners have wrapped up a deal for Bologna defender Riccardo Calafiori, who is nearing a £42.1m move to the Emirates.
Merino has emerged as a top target for Arsenal with Mikel Arteta having pivoted from the midfielder’s Real Sociedad teammate, Martin Zubimendi. The former has entered the final 12 months of his deal in San Sebastien and could be available for a cut-price fee of £20m.
Arteta is understood to be a big admirer of the player, who formed part of the Spain squad that won Euro 2024 this summer. He scored a crucial extra-time winner as La Roja beat host nation Germany in the quarter-finals.
However, Radio Marca are reporting that Chelsea will rival Arsenal in the race to bring the former Newcastle player back to the Premier League. Chelsea could sign the 28-year-old as an experienced option to bolster their midfield, with doubts remaining over the future of Conor Gallagher at Stamford Bridge.
Barcelona are also keen on Merino, though the London duo have the advantage as the Catalans focus on a deal for Athletic Bilbao winger Nico Williams. Atletico Madrid have also been mooted as a potential destination.