Arsenal set eye-opening Martin Zubimendi asking price as Chelsea plan to gazump Madrid duo

Arsenal are reported to have set their asking price for midfielder Martin Zubimendi, with London rivals Chelsea said to have revived their interest in the Spain star but are facing a battle with Real Madrid and Atletico Madrid for his signature.

The Stamford Bridge outfit were among a number of top clubs who expressed an interest in snapping up the 27-year-old last summer, only for the World Cup winner to remain in north London instead.

While Zubimendi made a strong start to his Arsenal career, having signed from Real Sociedad for £60million in the summer of 2025, his form tailed off badly in the second half of last season.

Indeed, a clearly fatigued Zubimendi ended up losing his place in Mikel Arteta’s starting XI to Myles Lewis-Skelly, who ended up starting the Champions League final ahead of his midfield teammate.

Zubimendi then saw his hopes of regaining his place this season suffer a further blow by Gunners splashing out £75m to sign Brazilian star Bruno Guimaraes from Newcastle United.

The Spain international is yet to start a first Premier League game this season, leading to strong speculation that his time in north London could be drawing to a close.

But, despite his struggles for game time with the reigning Premier League champions, Zubimendi still has plenty of admirers, and a report in the Independent states that Chelsea, Real Madrid and Atletico Madrid are all ‘monitoring’ the midfielder ahead of the January transfer window.

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Arsenal set their asking price for Zubimendi

The report states that the trio all view Zubimendi as an ‘ideal acquisition’, given his impressive resume of being a Premier League, World Cup, European Championship and Nations League winner.

And, while Arteta still regards Zubimendi as a ‘valuable option’ in his first-team squad, Arsenal’s hopes of landing a top striker in January could hinge on a big-money sale, with the Independent claiming that the Gunners are looking to recoup the £60m they initially splashed out for the player.

That comes as somewhat of a surprise, given the fact that Zubimendi’s stick has fallen over the past year, although that price is not expected to fluster Chelsea in their chase for the midfielder.

Blues boss Xabi Alonso is keen to bolster his options in midfield, after Chelsea sold Enzo Fernandez to Manchester City on deadline day last summer, and knows Zubimendi well from their time together at Sociedad.

Real Madrid chief Jose Mourinho also intends to sign a new midfielder in January, with the Spanish giants known to be big admirers of Zubimendi’s qualities.

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However, don’t rule out Atletico, with Diego Simeone said to be ‘dreaming’ of winning the race for the Arsenal man.

Until January rolls around, though, Zubimedi will be searching for more game time, having come on as an injury-time substitute in Arsenal’s 1-0 win over Hull City on Saturday.