Arsenal official are set to meet with Juan Cuadrado's agent in the upcoming weeks in order to outbid both Barcelona and Bayern Munich for the Colombian star's services, reports in Spain claim.
The 26-year-old versatile Fiorentina midfielder is proving to be a sensation at the World Cup, leading his side to victories over Greece and Ivory Coast with three assists.
Barcelona have been monitoring his situation for a while and recent reports in Spain assured the Catalans have already agreed personal terms with the player having earmarked him as a replacement for Dani Alves – as he can play both as a winger and as a full-back.
However, Mundo Deportivo now claims the Catalan club are ready to face big competition for both Arsenal and Bayern Munich to secure his services.
According to the reports the German side have already approached Cuadrado offering around £3.5m a year while Arsenal officials will meet with his agent in the upcoming weeks to discuss a deal.
Nevertheless, Fiorentina are said to be unlikely to negotiate a deal after they recently bought him from Udinese for around £20m.
Arsene Wenger is desperately looking for a dependable right-back to replace Bakary Sagna and even though reports claim his first-choice is Serge Aurier, Cuadrado could also bolster the midfield.
Indeed, the Colombian star is predominantly a winger scoring 11 goals and grabbing eight assists for Fiorentina in 32 Serie A appearances last season.
Meanwhile, Colombian boss Jose Pekerman has hailed Cuadrado, claiming he was ready to play for a big club.
"He's a player with great physical conditioning who achieved great things with his club, just as he has done with his country, and he is ready to go to a great club, regardless of how well he does at the [Fifa] World Cup," said Pekerman.
"It's satisfying to have him with Colombia and for sure he will go on to grace the most important pitches in football, and more if he goes to a great club like Barca."