Both Arsenal and Chelsea are already looking ahead to the next transfer window despite only recently completing their summer business.
According to El Nacional, the two London clubs are both keen on signing Barcelona midfielder Fermin Lopez and are prepared to offer bids upwards of £86 million.
Lopez has made a stunning start to the 2026/27 season, contributing four goals and two assists across all competitions in just six matches for Barcelona.
The 23-year-old La Masia graduate has been one of the most impressive midfielders in Europe under the management of Hansi Flick this campaign.
Both Arsenal and Chelsea are seeking greater depth and creativity in central midfield, making Lopez a natural target for the two Premier League heavyweights.
However, Chelsea appear better placed to win the race for the Spanish international, with Xabi Alonso holding an edge over Mikel Arteta in the pursuit.
The Blues have a significant void to fill in midfield following Enzo Fernandez’s departure to Manchester City, giving Chelsea a strong argument when approaching Lopez’s representatives.
Unlike Arsenal, who have Martin Odegaard occupying the number 10 role, Chelsea can offer Lopez a more prominent and consistent position in their starting lineup.
Lopez’s skill set suits the Premier League, with his ability to unlock defences, make late runs into the box, and maintain a high defensive work rate all particularly valuable attributes.
Barcelona will be reluctant to part ways with one of their most exciting midfield talents, but a fee of £86 million for a homegrown academy product could be difficult to ignore as they seek to balance their finances.
The situation will develop over the coming months, with both London clubs expected to firm up their interest as the January window approaches.