Arsenal are in advanced talks with Real Madrid to sign Mesut Ozil, according to reports in the Spanish media and on Sky Sports.

Sky Sports says that according to their sources, a deal could happen by the close of the transfer window tomorrow. See their video report below:

However, the “Sky Sports source” is probably Spanish media outlet Cadena SER, who report that:

“Mesut Özil could still leave the Real Madrid on the last day of the market and go to Arsenal. According to Cadena SER, Los Blancos and Arsenal may already have an agreement in principle for the German of a [monetary] figure between 45 and 50 million euros.”

That translates to a transfer fee of £38m-£42million.

Arsenal manager Arsene Wenger had this to say after today’s 1-0 victory against Tottenham:

“I am not against spending money, but I want to add super quality to our squad. Tottenham got a lot of money for Bale, they have to invest it – I understand that. The need is different for us, we need one or two super players and we will try to add that. We have 24 more hours, so maybe we can surprise you. Maybe not – but I am confident.

“Maybe something will happen in the last 24 hours, maybe not. It is very difficult to predict.

“I am ready to pay what we can afford, even if it is a bit over the market [value] and as long as it is not crazy. I am not against spending.”

What do you think? Could Mesut Ozil be on his way to Arsenal, or do you see the German midfielder joining another club in Europe instead? Give us your insight in the comments section below.