Arsenal have been offered the chance to buy out of favour Real Madrid striker Mariano Diaz in a deal that could be financially appealing to Unai Emery.

The Gunners have a modest transfer budget of £45million this summer and that will not be enough to address all the issues in their squad as they aim for a return to the Champions League.

With a winger, full back and centre back high on the list of priorities, a new forward will only be considered if they can be signed for a minimal figure.

And, according to The Mirror, Arsenal have been presented with the chance to sign Diaz this summer for just £18million.

He returned to the Bernabeu last summer after an impressive spell at Lyon but has failed to live up to expectations and is now being cast aside for the second time in his career.

With Alexandre Lacazette and Pierre-Emerick Aubameyang currently leading the line for Arsenal it seems there is no urgency to bring in another forward, although £18m would be attractive for a back-up following the exit of Danny Welbeck.

Diaz still has four years left on his contract in the Spanish capital but they need to sell after already forking out for Eden Hazard and a host of other new names this summer.