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Arsenal will trigger the release clause of Celta Vigo forward Nolito in a bid to beat Barcelona to his services this January, while the Gunners are also in pole position to land youngsters Malcom Silva and Kelechi Nwakali.

Spanish newspaper AS reported on Tuesday Arsenal will meet Nolito's £12.6 million release clause "with pleasure," while Catalan daily Mundo Deportivo added Arsenal will triple the attacker's wages (h/t James Cambridge of the Daily Express).

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Their hopes of landing the Celta superstar have been helped by the fact Barcelona come into the January transfer window with an extremely stringent budget after investing heavily in the squad last year.

Cambridge detailed that Dutch forwards Robin van Persie and Dirk Kuyt are instead being examined as more cost-effective targets, while Sport Witness attested to the economic circumstances at the Camp Nou:

Nolito's release clause may seem like a modest sum to a club of Barca's stature, but after adding Neymar and Luis Suarez to their ranks in 2013 and 2014, respectively, it appears debt reduction is now the club's primary concern.

Arsene Wenger's side will be only too happy to take advantage of that predicament, and Nolito drew in a wide array of compliments from the media for his performance for Spain in the recent November friendly against England:

After failing to add a single senior outfield player to the ranks over the summer, Arsenal's recent injury crisis has created the need for new recruits, although the squad has so far survived to launch an early Premier League title bid.

Nolito stands to make a substantial leap in earnings if Arsenal's alleged wage offer proves true, but even that may not be enough to convince the former Barcelona winger to jump ship for England's capital.

Another attacking asset alleged to be on the Gunners' radar is Corinthians starlet Malcom, who, at 18 years of age, has already established himself as a senior staple for the Brazilian outfit.

According to Italian website Calcionews24, Fenerbahce are interested in making a move for the teenager, but Arsenal will launch a bid for his signature (via the Daily Star's Jamie Anderson).

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Malcom plays in a similar role to Nolito on the left flank, but Arsenal would need to make a drastic change in purchasing policy if they're to recruit the prodigy, reportedly valued at £20 million.

The forward has scored six goals in 49 appearances for Corinthians since making his first-team debut last year, and he came on in the 2-1 defeat to Serbia in the final of this year's Under-20 World Cup.

The Gunners will also be glad to hear Nigeria starlet Nwakali prefers a move to the Emirates ahead of Manchester City, because their style of football is the most attractive in his opinion.

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Speaking to Nigerian publication MTN Football, the 2015 Under-17 World Cup winner said (h/t the Daily Star's Anderson): "I would love to play for Arsenal. They are their Premier League club I will like to play for them because they play the best football in the world."

Nwakali was captain of the team that won this year's youth tournament, and the 17-year-old would most likely find himself competing with compatriot Alex Iwobi if he were to move to the Emirates in 2016.

The teenager wouldn't yet be ready to feature in the Gunners' senior ranks, but Wenger may prevent future anguish by securing the services of potential stars such as Nwakali now.