Liverpool and Arsenal are reportedly set to battle it out once again in the ongoing transfer window in pursuit of signing Bojan Krkic from Barcelona.

The Daily Express reports that both the Premier League clubs are considering a move for the versatile 23-year-old forward if they miss out on their priority target Alexis Sanchez.

The Chilean international has been the subject of interest for the Reds' and Gunners' respective managers Brednan Rodgers and Arsene Wenger. The north London club were believed to be closing in on the former Udinese star but recent reports suggest that the 25-year-old is heading to Juventus instead.

Spanish newspaper Mundo Deportivo claimed Bojan is angling for a move away from Camp Nou and is open to the possibility of plying his trade in England next season.

A product of Barcelona's youth academy, La Masia, the Spaniard showed tremendous potential as a teenager, making his first team debut in 2007 under former coach Frank Rijkaard, aged just 17.

He then moved to Italy in 2011, played one season for AS Roma and spent the following season on loan at AC Milan, before returning to Barcelona in 2013. Last summer he was shipped off to Ajax on a season-long loan. He made 24 league appearances, as Frank de Boer's side lifted the Eredivisie title for the fourth time in a row.

Bojan, who is capable of playing on both wings and as a striker, does not feature among the plans of newly appointed Barcelona manager Luis Enrique.

The Express' report also suggests that the La Liga runners-up are keen on offloading the Spaniard from their books even as he enters the final year of his contract.

They are even said to be ready to be offering a part of his wages in order to attract suitors for his signature.

The report also states that although Bojan's form has considerably dipped, both Liverpool and Arsenal are willing to take the gamble in the hope that he will improve. Both the English giants could face competition as La Liga outfit Malaga and Greek side Olympiakos are believed to have already submitted offers to acquire the Spaniard's signature.

However, the two-time Champions League winner with Barcelona will only make a decision in the aftermath of Sanchez's transfer.