The Gunners are hoping Porto will accept their bid
The London-based club are confident of signing Jackson Martinez because they made the highest bid.
According to reports in Spain, the 28-year-old will make the switch from Porto to Arsenal after he has returned from playing at the Copa America.
Martinez recently stated his desire to play for a top European side and Arsene Wenger’s side would fit the bill.
Arsenal officials are believed to be really keen on bringing the Porto striker on board – Martinez has 32 goals to his name this season.
Several other clubs including the likes of Valencia and Atletico Madrid are believed to be interested in the South American – Atletico have reportedly had a bid for Martinez rejected.
Arsenal stick with Coquelin
Elsewhere, recent reports had been linking Southampton’s Morgan Schneiderlin with a move to the Gunners but the emergence of Francis Coquelin has cooled Wenger’s interest in the Saints midfielder.
Schneiderlin has been linked with a move away from the South coast club after a string of impressive performances helped Southampton finish seventh place last season.
However, Wenger is believed to be keen on giving Coquelin the chance to flourish and instead opt for a big-money move to land Chelsea’s Petr Cech.
Written by Jack Wynne – @JackRobertWynne