Ligue 1 champions Montpellier have offered north London rivals Tottenham and Arsenal 22-year-old Younes Belhanda.
Montpellier president also spoke of a £11.8m bid from Serie A side Inter Milan but the Italians have since denied interest in the player.
Belhanda has enjoyed a good season with the French club so far, scoring six times and creating two goals in 16 Ligue 1 appearances. Overall, he has eight goals and two assists from 23 appearances. The forward was in equally solid form last season, with his 12 goals and four assists in 28 league appearances key to the club winning the championship.
Should he leave the Stade de la Mosson, he will be the second player to leave in January (after defender Mapou Yanga-Mbiwa left to join Premier League club Newcastle United) and continue the exodus from the club; key striker Olivier Giroud left in the summer, for Arsenal.
Belhanda is presently with the Moroccan national squad, at the 2013 African Cup of Nations. The north African country are in third in Group A, with two points from the first two matches and must beat leaders and hosts South Africa to be absolutely sure of progress to the knock-out stages.
The winger's arrival could give Arsene Wenger cover on the flanks. The Gunners are set to lose Russian Andrei Arshavin one way or the other and have shifted England international Theo Walcott to a central role. As of now, German striker Lukas Podolski and youngsters Aaron Ramsey and Alex Oxlade-Chamberlain are among the players being used out wide, in the absence of Ivorian Gervinho, who is at the African Cup of Nations as well. Belhanda's addition could also offer respite for Spain international Santi Cazorla, whose playmaking abilities mean he has had little chance for rest since joining the Gunners in the summer.