Arsenal Transfer News: Latest Rumours on Hector Bellerin and Alvaro Morata

Arsenal's Hector Bellerin reportedly remains a key target for Manchester City manager Pep Guardiola despite the right-back having recently signed a new deal at the Emirates Stadium.

According to Paul Hirst in The Times, Guardiola is planning a major overhaul of his squad and specifically wants to strengthen his defence. Bellerin is his No. 1 right-back target, with Pablo Zabaleta and Bacary Sagna likely to leave in the summer.

Bellerin, 21, is already regarded as one of the best right-backs in the Premier League, and it was previously reported that he could be open to a move to City to join Guardiola—they share history at Barcelona—per Hirst.

However, to the relief of many connected with Arsenal, the Spain international penned a new contract to 2023 towards the end of last year and said he remained "very happy" to be a Gunners player, per Jeremy Wilson in the Telegraph:

The hope in north London would have been that Bellerin renewing his commitment to Arsenal would end speculation about his future.

Clearly, though, Guardiola has not moved on to a new right-back target, and City have the funds to make a move for Bellerin even though he has signed a long-term deal. 

As pointed out by Bleacher Report UK—in reference to Philippe Coutinho's recent commitment to Liverpool—putting pen to paper on a new contract around Christmas does not prevent the possibility of a summer departure:

Meanwhile, Real Madrid forward Alvaro Morata is reportedly "considering a move to Arsenal" as he is dissatisfied with his role at the Santiago Bernabeu. 

Per Diario Gol (h/t The Independent's Evan Bartlett), the Spaniard is unhappy with his back-up role at Real behind first-choice Karim Benzema and would be open to a departure to the Gunners.

Morata, 24, returned to Real from Juventus in the summer after Los Blancos activated their buy-back clause on the striker following his two seasons in Italy.

Aitor Alcalde/Getty Images

Since moving back to Madrid, he has started only six games in La Liga and last played a full 90 minutes in December against Deportivo La Coruna. He has still managed to net five league goals in 635 minutes of action, though, per WhoScored.com.

Per Diario Gol (via Bartlett), Real president Florentino Perez recently told Morata: "If we get €60 million (£51 million) you can leave tomorrow."

Arsenal and manager Arsene Wenger have historically been loath to spend such large sums of money and, given that Alexis Sanchez and Olivier Giroud are in fine goalscoring form, it seems unlikely the Gunners would move for Morata in the winter transfer window.

However, Sanchez's Arsenal future remains in the balance as he has yet to sign a new deal, per Tom Doyle in the Evening Standard. Morata could become a Gunners target in the summer if the Chilean departs.