A separate report from Marca suggests that Real Madrid landing on the scene has 'changed the landscape' of the situation. Arsenal, meanwhile, are said to be 'concerned' that Zubimendi will turn his back on them and hold out for a move to the Bernabeu.

Arsenal have agreed a new fee to sign Spain midfielder Martin Zubimendi ahead of Real Madrid, according to reports. Mikel Arteta has made Zubimendi, 26, one of his top transfer targets this summer. The Real Sociedad star came close to joining Arsenal’s Premier League rivals Liverpool last summer but ended up rejecting the move.

Welcome to the second edition of The Athletic’s Transfer DealSheet for the summer 2025 transfer window. Our team of dedicated writers, including David Ornstein, will take you inside the market to explain the deals being worked on in this window,