According to a report from Columbian news outlet Antena2, Everton are among other clubs interested in signing Atletico Madrid's Santiago Arias in the summer.
The former PSV full-back has struggled for game time at the Spanish capital under Diego Simeone this season.
Atleti have preferred former Tottenham man Kieran Trippier, which has limited Arias's appearances to just 11 in all competitions.
The Toffees might need another right-back in the summer if Djibril Sidibe isn't signed permanently. Seamus Coleman is on the wrong side of 30, while Jonjoe Kenny's future is up in the air after an impressive loan spell at Schalke.
Signing a player like Arias makes sense considering Everton's need in that position, but the Colombian is someone Ancelotti has been tracking for a while now; even before he joined Atletico Madrid.
Sky Italia reported back in July 2018 that Ancelotti's Napoli were leading the race for Arias before a deal for him fell through.
Everton's reported interest in him now means that Ancelotti has followed him closely over the last 20 months and, if he truly believes in him, the Toffees should get it done.
Arias recently turned 28 and is in the prime of his career. Joining a club like Everton, who can offer him regular game time, works incredibly well and a chance to work under Ancelotti is rarely ever declined by top players.
The report claims that Inter Milan are also looking at the possibility of signing Arias but, if regular game time is his biggest priority, Goodison Park is the place to be this summer.
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