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Arsenal could turn to Russia's Andrei Arshavin to replace Emmanuel Adebayor after receiving an offer of around £21 million from Barcelona for the Togo striker.
Reports in Spain claim Arsenal want £25 million for last season's leading scorer but manager Arsene Wenger is said to be reluctant to allow the striker to leave.
Josep Guardiola, Barcelona's coach, admitted the club were seeking a striker to replace Samuel Eto'o and to complement Thierry Henry and Bojan Krkic.
AC Milan vice-president Adriano Galliani reportedly said: "If Adebayor doesn't come then nobody will come. We are in negotiations but Arsenal are unwilling to sell."
Arshavin made his debut in the European Championship here on Wednesday, returning from a two-match ban to lead the Russians to an outstanding victory over Sweden and book a quarter-final meeting with Holland in Basle tomorrow. He also scored his 15th international goal in 35 outings.
While Arshavin is a different type of player to Adebayor - a smaller forward who plays off a front man in a similar fashion to Croatian striker Eduardo - he excites and Wenger is understood to have already contacted Dick Advocaat, the coach of Zenit St Petersburg, to discuss the possibility of taking the 27-year-old to north London.
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He would cost £10 million - the fixed price on his contract should he move.
Arshavin, who was named man of the match when he made both goals for Zenit in the Uefa Cup final win over Rangers at the City of Manchester Stadium last month, has told friends he would be interested in moving to the Premier League, but only to Chelsea or Arsenal. He may have more suitors following his impressive performance in Innsbruck, however.
Meanwhile, France international midfielder Samir Nasri could be unveiled as an Arsenal player today.
He arrived in London yesterday afternoon by private plane for a two-part medical, one at the training centre and one with an independent doctor. Should all go to plan, he is set to sign a five-year deal at cost of £13 million.
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