Arsenal and Chelsea 'lead race to sign Yannick Carrasco' as Atletico look to fund Diego Costa move

The 23-year-old has been in good form this season but has fallen out with manager Diego Simeone

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Arsenal and Chelsea are said to be leading the race to sign Atletico Madrid's unsettled winger Yannick Carrasco.

The 23-year-old has scored 10 goals for the La Liga outfit this season despite reportedly falling out with manager Diego Simeone for playing him in the wrong position.

According to The Sun, the two London clubs are leading the list of some of Europe's top clubs looking to capitalise on Carrasco's unrest in the summer.

The Belgian international is reported to be valued at around £40m and could head for the exit at the same time as teammate Antoine Griezmann.

Atletico are in a spot of financial bother and are likely to offload some of their most prized assets this summer ahead of their proposed move to a new stadium, as The Independent revealed last month.

Nevertheless, the Spanish club are said elsewhere to be lining up a move for former player Diego Costa who has been similarly unhappy this year.

That deal could make the Carrasco switch to Stamford Bridge more of a possibility although he would similarly fit in at the Emirates should Arsenal lose one of two contract rebels - Alexis Sanchez or Mesut Ozil.

PSG and Bayern Munich are also said to be keeping tabs.