According to this morning’s AS, Arsenal have made an official bid for Santi Cazorla, presenting a deal to Malaga worth €23m.

Although the Spanish side have, in the short term, sorted out some of the financial issues that have been widely reported, Diaro Sur, a local news outlet, reports that further investment is critically needed to prevent meltdown.

Arsenal’s bid covers what Malaga paid Villarreal for Cazorla last summer and enough to cover some outstanding VAT payments. Whether this is enough to persuade them to sell remains to be seen. The AS report says that Malaga’s initial response to the Arsenal bid was to point to his €45m release clause but with the club still in financial disarray they may be forced to let him leave for a price well below that.

Cazorla and his agent met with Malaga yesterday, he’s remained at home while the team tours Venezuela, and according to accounts has expressed his desire to play for Arsenal.

Whether Malaga’s reluctance to sell has prompted the reported interest in Real Madrid’s Nuri Sahin remains to be seen, but having made an official offer it looks as if things are moving to a Cazorla conclusion, one way or the other.