Alvaro Morata
Alvaro Morata could be on his way out of the Bernabeu

Real Madrid have reportedly ask Arsenal and other Alvaro Morata suitors to pay £24m to secure the striker's services – with a proviso to drop the price to between £14.5 and £20m should the Gunners accept a buy-back clause in the deal.

Morata was already close to joining Arsenal on loan during the January transfer window but then Real Madrid manager Carlo Ancelotti decided to block the deal as he did not have a replacement lined up for the second-half of the season.

But the situation has since changed after Ancelotti recently expressed they were now ready to part ways with Morata, as the striker continued to agitate for for more playing time.

"The player wants to look for an opportunity to get more minutes so the club agrees with this. If Morata leaves then we have to think about acquiring someone with the same characteristics, a young and talented striker. If he is looking for the opportunity to play it would be good for him to have opportunities for a year," Ancelotti said.

Nevertheless, Spanish newspaper AS reports that they are now likely to sell him at any price and have already asked interested clubs to meet his £24m valuation – even though the player's contract is set to expire at the Santiago Bernabeu next summer.

However, AS claim that if the buyer gives Real Madrid first refusal on the player during the first two years the price will be reduced to between £14.5 and £20m.

In that case, Real Madrid would accept to pay a 30% extra on the deal to have Morata back, allowing Arsenal or other parties net a lucrative profit in the future.

Arsene Wenger is desperately looking to add a striker to Arsenal ranks and the Real Madrid youngster looks a good option to fight for a place with Olivier Giroud.

Nevertheless, the Gunners will have to tussle with both Serie A giants Juventus and La Liga side Villarreal for his signature.