Arsenal can sign Martin Odegaard under two conditions

Arsenal have been offered the opportunity to re-sign Real Madrid attacker Martin Odegaard on a permanent basis, Spanish outlet ABC reports.

The Norwegian remains one of the top targets for the Gunners following a successful six-month loan spell earlier this year.

According to ABC, the Gunners could re-sign the 22-year-old this summer if they meet Los Blancos' reported asking price of €50m.

However, the deal won't be straightforward. The Madrid giants will also demand a buy-back clause as part of the transfer.

It is unclear whether the Gunners will consider the proposal. A deal still depends on them recouping funds from player sales.

Alexandre Lacazette, Hector Bellerin, Eddie Nketiah, Ainsley Maitland-Niles, Sead Kolasinac and Lucas Torreira are fancied to leave.

Aside from a creative midfielder, the Gunners are determined to sign a new goalkeeper and centre-forward before the deadline.

The north London giants start their new Premier League campaign with an away trip to newly-promoted Brentford on August 13.