Manchester City have emerged favourites to sign Juventus midfielder Paul Pogba and are willing to spend up to £40m to secure his services, according to the Daily Mail.

The former Manchester United man has gone from strength to strength since leaving Old Trafford under Sir Alex Ferguson and is heralded as one of the best midfielders in the world at present. Juventus signed Pogba after the player had a dispute with Ferguson over playing time and refused to extend his contract with the Red Devils.

The 20-time Champions are living to regret the sale, as Pogba may soon find his way back to Manchester but this time he will be seen in blue, which will boost their noisy neighbours.

On the other hand, Arsenal are also interested in the midfielder, as Arsene Wenger is a huge fan of his fellow countryman.

The Frenchman confirmed that Arsenal were interested in signing him before Juventus came in, but their efforts were thwarted.

"We were interested by Pogba when he was at Manchester. We tried to get him, but it was complicated. I was surprised to see Manchester let him go. We did not have the right to contact him," Wenger said.

However, the inflated fees, owing to Pogba signing a new contract with Juventus earlier this year may be too much for the Gunners to match, who are already reeling after the purchase of Mesut Ozil and Alexis Sanchez for a combined £75m over the last couple of years.

Pogba was an important part of France's 2014 FIFA World Cup campaign where he shone through and accumulated a goal and an assist in five appearances for his country.

In the Serie A this season, he has scored three and assisted one in 12 appearances thus far and has been a major reason behind Juventus' dominance in the league.