Arsenal Transfer News Roundup: Gunners want Atletico Madrid star; 3-horse race for Crystal Palace ace, and more - 23 February 2022

Arsenal have the chance to move to fifth in the Premier League table with a win against Wolverhampton Wanderers on Thursday. The Gunners are currently sixth in the standings, tied on points with fifth-placed West Ham United, who have played three more games.

Meanwhile, the Premier League giants are interested in an Atletico Madrid star. Elsewhere, the north London side are locked in a battle with Chelsea and Bayern Munich for a Crystal Palace ace.

On that note, here's a look at the key Arsenal transfer stories as on 23rd February 2022:

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Arsenal want Joao Felix

Joao Felix could be on the move this summer.

Arsenal are interested in Joao Felix, according to Sport Witness via journalist Eduardo Inda. The Portuguese is among the most talented young attackers in Europe at the moment. So Gunners manager Mikel Arteta is eager to bring him to the Emirates.

Felix rose through the ranks at Benfica before making a high-profile move to Atletico Madrid in 2019. The La Liga giants paid £114 million to secure his services amid intense competition. However, the Portuguese has struggled at the Wanda Metropolitano, managing just 23 goals and 14 assists from 100 games across competitions.

His indifferent form has not deterred the Gunners, who are convinced that a change of scenery could bring the best out of him. There's a general belief that the player has struggled to adapt to Diego Simeone's ultra-defensive tactics at Atletico. Arteta is confident the 22-year-old would thrive in his free-flowing attacking system.

The Spaniard has specifically asked for the player, and Atletico are not averse to letting Felix leave. Simeone is already planning life without the young Portuguese, but wants Goncalo Guedes of Valencia as his replacement. However, Felix's current contract with the Rojiblancos extends till 2026, so he is expected to command a hefty transfer fee.

Arsenal are eager to complete a move as they look to facilitate their squad revamp. With Nicolas Pepe's future up in the air, Felix could be a fine buy for the north London side. However, the Gunners might have to secure UEFA Champions League football to convince the 22-year-old to move to north London this summer.

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Gunners in three-horse race for Michael Olise

Michael Olise could ignite a bidding war this summer.

Arsenal are battling Chelsea and Bayern Munich for Michael Olise, according to The Sun.

The 20-year-old has caught the eye for Crystal Palace this season, particularly in the Premier League defeat to Chelsea. Arteta is planning to revamp his midfield this summer, so he wants the 20-year-old at the Emirates.

The Gunners could lose Granit Xhaka this summer, while Mohamed Elneny is expected to leave once his contract expires in a few months. The north London side believe Olise could help offset the dual departures.

However, the Gunners could face competition from the Blues and Bayern Munich, with both clubs monitoring the 20-year-old Olise.

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AC Milan monitoring Renato Sanches

Renato Sanches has been outstanding for Lille so far.

AC Milan are ready to compete with Arsenal for Renato Sanches, according to The Hard Tackle via Gazzetta dello Sport. The Portuguese midfielder has been on song for Lille recently, and has earned admirers at clubs around Europe. That includes the Gunners, who are tipped to dive for him this summer.

The Gunners are planning to reinforce their midfield at the end of the season. Sanches could be a superb presence in the centre of the park at the Emirates. However, the Premier League giants might have to ward off competition from AC Milan to win the race for Sanches' signature. The player is likely to cost around €30 million.