Arsenal have reportedly been told to fork out €60m (£51.6m) if they want to sign Martin Odegaard on a permanent basis from Real Madrid.

The Norwegian playmaker enjoyed a successful loan spell at the Emirates Stadium in the second half of the 2020-21 season, chipping in with two goals and two assists in all competitions.

Odegaard's efforts were not enough to see the Gunners secure European football, but he has affirmed that he is happy in North London as Arsenal aim to keep him on the books permanently.

According to Defensa Central, Real Madrid are willing to let Odegaard leave for the right price this summer, and a fee close to £52m could seal the deal for Arsenal.

The report adds that Los Blancos remain convinced that Odegaard will fulfil his potential, but the club were disappointed with his attitude in January, and the need to raise funds for their own transfer business could tempt Real into a sale.

Odegaard has only made 11 appearances for Real Madrid in all competitions so far - compared to 20 in his short stint with Arsenal - and he will captain Norway at this summer's Euro 2020 tournament.