Arsenal have reportedly offered Real Madrid star Iker Casillas an offer that he cannot refuse and seem poised to seal a deal for the renowned shot-stopper.

A report in the Spanish newspaper Sport states that the Gunners are ready to hand the Champions League winner a five-year contract worth more than £1.4m-a-year, on the condition that he leaves Los Blancos for free this summer.

Arsene Wenger is scouring the market for a goalkeeper to challenge or oust Wojciech Szczesny's place in the starting line-up following Lukasz Fabianski's departure to Swansea City.

The north London club are believed to have agreed a £3.2m fee for Colombian goalkeeper David Ospina, but nothing has materialised so far.

Casillas has remained on Wenger's radar and the Spanish international too is keen on leaving Santiago Bernabeu.

The 33-year-old lost his place in Real's starting line-up to his compatriot Diego Lopez and made only two La Liga appearances in the previous campaign.

Reports in Spain claim that the Spanish giants have already agreed a five-year contract with Levante goalkeeper Keylor Navas and have to only meet the Costa Rican international's €10m (£7.9m) release clause.

The Real skipper feels that his chances of any first team opportunities will further diminish following Navas's arrival.

Casillas is said to have requested the club's hierarchy to terminate his contract which will enable him to make the switch to the Emirates for nothing.

The Spanish capital outfit are currently in the US for the pre-season tour where they will face Inter Milan, AS Roma and Manchester United in the International Champions Cup.

Manager Carlo Ancelotti remained coy when asked about Navas's arrival but stated that he will take a call on his first choice player in goal like last summer.

"Keylor isn't a Real Madrid player. We are in pre-season. Right now we have the same three keepers as last year. For us the goalkeeper isn't an issue. Last year there were debates about it, but not for me," the former AC Milan and Chelsea boss stressed.

"Iker only started training today. I'm going to decide at the start of the season who will be the starting keeper. Last year we decided in pre-season. Now is different to last season. Iker starts at the same level as the others. I'm going to make a decision on the goalkeeper like last season," he concluded.