Arsenal are ready to compete with Chelsea for the signing of Newcastle United winger Hatem Ben Arfa, according to the Daily Mirror.

The French international, who is currently on international duty at Euro 2012, is understood to have attracted interest from the Premier league pair after a sterling season with The Toon.

Newcastle defied expectations to finish fifth in the Premier League, above Champions league winners Chelsea and big spending Liverpool, and qualify for the Europa League.

Hatem Ben Arfa
Ben Arfa has struggled at Euro 2012

However, their success has come at a price, with a number of their star names being linked with moves away from St James' Park, and Ben Arfa's name is the latest to be mentioned with a potential move switch.

Both Arsenal and Chelsea will play Champions League football next season, a potential carrot for Ben Arfa, who featured in Europe's premier club competition with both Lyon and Marseille during his days in Ligue 1.

After missing much of his first season at Newcastle with a broken leg, Ben Arfa thrilled upon been handed regular opportunities during the back end of the season, scoring one of the goals of the 2011/12 Premier League campaign against Bolton Wanderers.

His tricky and movement on the right-hand side for The Magpies posed several teams problems, including Arsenal, who he netted against at the Emirates Stadium in March's meeting between the two.

Both The Gunners and Chelsea have already added to their artillery for the new season, with Lukas Podolski having made the move to north London, while Eden Hazard and Marko Marin have moved to Roberto Di Matteo's side.

Arsenal are also lining up a move for Montpellier striker Olivier Giroud, with The Blues closing in on a deal to sign Hulk from FC Porto.

With both sides appearing full to the brim with attacking players, a move for Ben Arfa, who despite his wizardry for Newcastle, only scored six goals last season, looks unlikely, especially with Alan Pardew expected to swat away bids for his star players.