Arsenal will attempt to sign Kylian Mbappe in the summer in the hope of beating a number of European rivals to the Monaco teenager, but Arsene Wenger admitted that the Gunners may be priced out of the market by the likes of Real Madrid and Manchester United.

18-year-old Mbappe has caught the eye of Europe’s top clubs, with his form this season helping Monaco to the Champions League semi-finals where they face Juventus as well as the top of Ligue 1. His 23 goals in all competitions this season has led to interest being shown from both the Premier League and La Liga, with United, Arsenal and Manchester City set to go up against Madrid and Barcelona this summer should Monaco decide to cash in on the France international.

Having watched him make his France debut earlier this season, Wenger has been impressed with the striker and confirmed that he is interested in signing Mbappe, adding that it would be a “lie” to say otherwise.

“Of course [we're targeting Mbappe],” Wenger told French TV channel SFR Sport. “It would be hypocritical and a lie to say we're not following him.”

However, reports in France this week stated that Real could be willing to pay up to €100m [£85m] for Mbappe in an effort to force their transfer rivals into submission, and Wenger accepted that Arsenal are not in a position to challenge those type of figures despite increasing their financial firepower in recent years since paying off the Emirates Stadium debt.

“He's perhaps already in the category of clubs who perhaps have more financial potential than us,” Wenger added.

Monaco are expecting to receive a number of offers this summer not just for Mbappe but for the likes of Bernardo Silva, Tiemoue Bakayoko and Thomas Lemar, with the Principality’s form this season along with their brilliant attacking style not going unnoticed.

The club’s vice-president, Vadim Vasilyev, came out on the offensive this week though and insisted that he remains confident of keeping hold of rising talent Mbappe, along with the rest of their key players, because the club are now in a good position financially.

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“We do not need to sell, the budget is balanced,” Vasilyev said. “For the moment, not a single player has told me that they want to leave.

“We will discuss it all in a relaxed manner. But with the 2018 World Cup, not Thomas, not Kylian, nor maybe Bernardo want to leave.

Mbappe has scored 23 goals in all competitions this season (Getty) (G)