Arsenal would reportedly need to offer a fee in the region of £40m-£50m if they wish to sign Norwich City midfielder Emiliano Buendia.

With Mesut Ozil on the verge of completing a move to Fenerbahce, Arsenal are in the market for a creative midfielder this month.

However, journalist Kaveh Solhekol believes that Mikel Arteta's side would have to spent big if they wish to sign the Argentine playmaker.

"One player [Arsenal] have been watching very closely is Emi Buendia at Norwich City," Solhekol told Sky Sports News.

"I have been in touch with some people close to the player today. They say the situation is that the player himself is focused on his job at Norwich. They are doing really well in the Championship, top of the table. They can see the Premier League on the horizon.

"The problem Arsenal would have with trying to sign him this month is how much it would cost. Norwich are a very well-run club with a sustainable business model. I have been told it would take a crazy offer for them to be tempted to sell him this month. A crazy offer we are looking at somewhere between £40m and £50m."

Buendia, 24, has scored seven goals and provided seven assists in the Championship this season with the Canaries sitting top of the table after 24 matches played.