Arsene Wenger
Arsene Wenger leading the race for Benfica sensation Goncalo GuedesGetty

Arsenal have emerged favourites to sign Benfica starlet Goncalo Guedes ahead of Bayern Munich, according to the Daily Express.

Dubbed the 'new Frank Ribery', the 17-year-old is being tracked by a lot of clubs from across Europe, including the likes of Borussia Dortmund and AC Milan. Pep Guardiola is also on the case but the youngster reportedly prefers a move to the Premier League over the Bundesliga.

Reports suggest that the player is likely to make his way out of the club in January, with Arsene Wenger currently in the driver's seat for his signature. The Gunners are looking to add to their youth setup and nurture them for the future, given their inability to spend in the same kind as Chelsea, Manchester City and Manchester United.

The Gunners have a reputation for giving youngsters a chance to prove themselves, with Theo Walcott, Jack Wilshere, Cesc Fabregas and Serge Gnabry, all being given a chance to display their potential. A move to the Emirates will help Guedes who is yet to receive a call up to the senior team with the Portuguese giants.

The opportunity to learn under the guidance of Wenger, who has moulded the likes of Thierry Henry, Robert Pires and others, will only help him as a player and enable him to move up the ranks in one of the most revered clubs in Europe.

Meanwhile, the Gunners' top priority in January would be to bring in a defender, with the north London club perilously light at the back owing to injuries to Mathieu Debuchy and Laurent Koscielny. Nacho Monreal is being deployed at centre-back alongside Per Mertesacker, while Calum Chambers has filled in the position at right-back.

Hector Bellerin and Isaac Hayden have been inducted into the first-team as backup, but the Gunners are yet to find any cohesion at the back, conceding goals easily against teams stationed in the bottom rung of the table.