Arsenal are keen on Boca Juniors' Cristian Pavon and are expected to make a move for the 21-year-old winger this summer.
Juventus and Manchester City have also been following the versatile wide forward, but Arsenal are understood to be closest to pulling the trigger and have commissioned extensive background checks on the player already.
Pavon's explosive style earmarks him as the perfect replacement for Alexis Sanchez, with the Chilean set to depart the club either this month or in the summer. He is an Argentina international, having made his debut in the friendly against Russia last year.
Boca would be willing to part with the academy product for offers that begin at £20m up front, with clauses included to account for future success. They aren't, however, willing to countenance a sale in January as they wish to make an all-out assault on the Copa Libertadores, South America's equivalent of the Champions League.
Carlos Tevez is expected to re-join the club after an unhappy spell in China, while they are also bringing in Argentina internationals Julio Buffarini and Emanuel Mas.
Should Pavon be able to help Boca to Libertadores glory they would be happy to cash in on the talented wideman, but there remains the possibility that performing in some of South America's highest-pressure knockout games could attract competition for his signature.
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