Atletico Madrid were strongly linked with a move to sign Arsenal playmaker Santi Cazorla over the summer, but no deal materialised, with Diego Simeone bringing in Alessio Cerci and Antoine Griezmann instead.
After winning the La Liga title and reaching the Champions League final last season, a drop-off was expected for Atleti, but Simeone still has his side just four points off the top of the La Liga table.
However, speculation continues to suggest that Simeone wants to take former Villarreal and Malaga star Cazorla back to Spain to add a creative spark to his side.
That interest has come about largely because of the lack of success for the aforementioned Cerci. The former Torino star hasn't even started once for Atleti, playing just 135 minutes in an underwhelming spell in the Spanish capital.
Cerci, 27, has already admitted that he may look to leave Atletico in January, and Arsenal are widely reported to be monitoring his situation - so could a swap deal be on the cards?
29-year-old Cazorla has been hit and miss so far this term, and hasn't scored at all this season with some ineffectual displays - leading manager Arsene Wenger to use Alexis Sanchez, Alex Oxlade-Chamberlain and Danny Welbeck out wide instead at times.
Meanwhile, Cerci would offer some balance to the Arsenal wide areas with a superb left foot, whilst he can also play up front or behind the striker - a truly versatile attacking threat.
The Italian international was linked with a move late in August before his move to Atletico, whilst his struggles in Spain have sparked further rumours that Wenger wants to finally snap him up.
Cazorla has been so inconsistent of late, and with his 30th birthday approaching, Arsenal need to strongly consider offers that come their way; especially if it involves getting a younger player in exchange.