Both Arsenal and Manchester United are interested in signing João Félix from Atletico Madrid. David Ornstein revealed the transfer news during NBC Sports‘ Premier League coverage on Wednesday.

However, The Athletic reporter added that United do not have a ton to spend this January.

“I don’t think there’s much money to spend at Manchester United,” proclaimed Ornstein. “I don’t want to disappoint fans, but it’s most likely going to have to be a loan deal.”

Ornstein also referenced new Liverpool player Cody Gakpo as well. “Interestingly, [United] had an admiration of Cody Gakpo,” continued the reporter. “They almost signed him in the summer window. Erik ten Hag is a massive fan, but United are focused on a central striker for January and they see Gakpo primarily as a wide forward. And therefore, they are also looking at someone like João Félix, if they can do that loan deal.”

Spanish club make $100 million player available

Atleti are fielding offers for Félix after he fell down the pecking order at the club. Manager Diego Simeone has given the Portugal international just five LaLiga starts during the current campaign. Ornstein, however, reminded United fans that the club is currently handcuffed because of the potential change of ownership.

“I think we need to remember the United sale here,” said Ornstein. “They’re aiming for a complete sale of Manchester United in the first quarter of 2023. And therefore, the Glazer family are not going to willing to sanction a massive outlay of cash on deals at this time of the year.”

Arsenal joins United in João Félix quest

Along with United, Arsenal are also interested in Félix as well. Although they also need Atleti’s demands to drop. Recent reports suggest that a total package for Félix could cost a team around $23 million for just a six-month deal. The Spanish giants are looking for a huge loan fee as well as the player’s wages to be covered.

“[Arsenal] are also keen to sign João Félix on loan from Atletico Madrid,” Ornstein stated. “Jorge Mendes, his agent, knows he needs to move João Félix because he’s out of favor at Atletico Madrid. And Arsenal are keen to do it, but the numbers would need to come down for that to happen. And I think they will. It would only be a six-month loan.”

United need reinforcements in their quest to get back into the top four of the Premier League. Arsenal, on the other hand, are currently top of the table and are looking to strengthen a thin squad.