Arsenal Transfer News: Alvaro Morata, PSG Meeting Held Amid Latest Rumours

Arsenal's chances of landing the signature of Alvaro Morata have suffered a heavy blow after it was reported the Spain striker's agent met with Paris Saint-Germain sporting director Olivier Letang for transfer talks.

The Juventus forward is seemingly set to leave Turin this summer, and French newspaper L'Equipe reported Juanma Lopez, Morata's representative, met with Letang at a Paris restaurant on Wednesday (h/t Football Espana).

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Real Madrid, Morata's former club, have a €30 million (£22.9 million) buyback clause on the attacker, and if they choose to exercise that option, PSG's ample transfer funds and interest could see the Gunners' bid to recruit the player blocked.

According to the Sun, Real plan to bring Morata back to Madrid before cashing in for a quick profit and have quoted Arsenal a fee of €51 million (£38 million) to complete the deal (h/t the Independent's Jack de Menezes).

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PSG can certainly be considered a credible rival in the hunt to sign Morata, too, considering the Ligue 1 champions are in a race of their own to replace departing superstar Zlatan Ibrahimovic, per ESPN FC.

But Real Madrid own a huge portion of bargaining power in the deal, and Juventus chief executive Giuseppe Marotta recently likened the transfer saga to a tale from Sicilian folklore, per the Guardian's Ed Aarons:

Arsenal are also in a race to provide new firepower to their front line, however, after it was reported Danny Welbeck will miss the start of next season with a serious knee injury, per BBC Sport.

The Press Association also reported on doubts regarding Theo Walcott's future at the club (h/t the Guardian), while it's unknown whether France international Olivier Giroud has the club's backing as a world-class front man.

Juventus may want to keep Morata in Turin, but the Spain forward has also struggled for a place at times, with the likes of Paulo Dybala and Mario Mandzukic restricting him to just 26 starts in 47 appearances last season.

Sky Sport journalist Fabrizio Romano has also reported United will be in pursuit of Morata if they don't manage to tempt free-agent Ibrahimovic to Old Trafford this summer:

Morata, 23, appears to fit the specifications by which Arsenal manager Arsene Wenger usually operates: he's young, trained at a prolific academy (Real Madrid Castilla) and has shown huge potential in his still-budding career.

That said, the high price tag Los Blancos have supposedly placed on their former youngster if they do re-sign and choose to sell the player could blow any sense of value out of proportion.

PSG, on the other hand, are not regarded as being so stringent with their budget, and the Ligue 1 champions will expect a major signing to make up for the loss of Ibrahimovic.

Arsenal know the price that must be paid, and with other suitors already circling for Morata's services, they may be forced into action sooner rather than later if they're to clinch the striker's signature.