Arsenal have been linked with a deal to sign Gerard Montero.
Arsenal are interested in a bargain deal to sign Villareal striker Gerard Moreno, report The Mirror.
The striker has netted 16 goals in 39 games in all competitions this season for the La Liga side, and has a release clause of only £3 million in his contract.
The 23-year-old Spaniard could be an ideal acquisition for Arsenal, and answer criticism from former striker Thierry Henry over the club's depth up front.
Henry told SkySports at the weekend Arsenal lacked strikers to compete with Olivier Giroud, who they could rely on in the same way Sylvain Wiltord and Dennis Bergkamp were used in Arsenal's title winning campaigns in 2001/02 and 2003/04.
Moreno is not of the profile of a Gonzalo Higuain or Edinson Cavani, nor price tag, and would not necessarily force Giroud out, but he would provide an alternative who across the course of the season could be hopefully relied upon.
Danny Welbeck scored only four Premier League goals after his move from Manchester United, and Yaya Sanogo failed to impress on his loan spell at Crystal Palace.
HITC's own sources revealed earlier this month that Arsenal's rivals Tottenham Hotspur have been scouting La Liga revelation Moreno, who was on loan in the Spanish second division a year ago.
Arsenal have already conducted business with Villareal this season, signing Gabriel Paulista in January, loaning Joel Campbell in the other direction.