Arsenal quoted price to sign Gustavo Varela

Arsenal will reportedly need to spend big money to sign Monza striker Gustavo Varela when the transfer window reopens in the New Year.

The Portuguese has had a phenomenal start to his career with Monza and he has already netted 11 goals in just 10 appearances since his summer move from Benfica.

His progress has caught the eye of several elite European clubs and it is claimed by A Bola that Arsenal were among the first sides to make an enquiry for his services.

Monza are fully aware of the youngster's immense potential and they are now prepared to hold out for a package between  €40m and €50m to part ways with him this winter.

There is no indication that the Gunners will pay such an amount for the 21-year-old, who spent last season on loan with Portuguese side Gil Vicente from Benfica.

Despite his glowing start, Arsenal may prefer to monitor his progress for the campaign before weighing up a possible approach for him.