Arsenal are reportedly closing in on a €35m (£29.8m) deal to bring Real Madrid playmaker Martin Odegaard back to the Emirates.

The Norway captain enjoyed a positive six-month loan spell in North London last season - contributing two goals and two assists in 20 appearances - and the Gunners have been keen to land him on a permanent basis all summer long.

After Odegaard was left out of Carlo Ancelotti's squad to face Alaves in Saturday's La Liga match, the playmaker's agents reportedly flew to London in order to discuss a deal with Arsenal.

Now, The Athletic reports that Arsenal are 'close' to welcoming Odegaard back to the club, and the 22-year-old missed Real Madrid training on Tuesday in anticipation of a potential move.

The report adds that Real will sanction a sale for under £30m, and should the details be finalised quickly, Odegaard could be announced in time to face Chelsea on Sunday.

The former Stromsgodset starlet signed for Real Madrid as a 16-year-old in 2015 but has only made 11 appearances for the senior team, and his existing deal at the Bernabeu is due to run out in 2023.