The Porto hitman has attracted serious interest from Liverpool too.
The Gunners are hoping to mount a serious title challenge next term, with a striker earmarked to provide more competition for Olivier Giroud.
Arsene Wenger recently suggested he wouldn't pay 'astronomical fees' in the summer when he said: "We have not spent that kind of money. People forget that for years we had to sell our best players and that was a very difficult period. That is the reality.
People speak about stratospheric numbers where we will not be involved
Arsene Wenger
"Since we have been able to buy again, we slowly came back to a more competitive level.
"But people speak about stratospheric numbers where we will not be involved."
GETTY
Jackson Martinez is on Arsene Wenger's radar
According to The Daily Mirror, Wenger will only make a move for Martinez if he can clear some space off the wage bill.
They suggest the north London outfit might let Lukas Podolski, Yaya Sanogo and Joel Campbell leave in order to fund a move.
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