Arsenal working on deal for £34m-rated playmaker

Arsenal are reportedly in negotiations with Real Madrid to re-sign Martin Odegaard this summer.

The Norwegian was loan with the Gunners earlier this year, registering two goals and two assists from 20 games.

The club have made it a priority to re-sign on a permanent deal and talks are already underway with Los Blancos.

According to Sky Sports' Dharmesh Sheth, negotiations are ongoing between the clubs regarding the deal structure.

With less than two years left on his contract, Los Blancos prefer to sell him permanently for £34 million this month.

However, the north London giants could propose another temporary deal with an obligation to buy next summer.

Odegaard was initially aiming to make his mark with Madrid, but Carlo Ancelotti refused to assure him regular game time.

The Norwegian recently signalled to his agent that he would like to move on which reignited the Gunners' long-standing interest.

It could only be a matter of time before an agreement is struck.