Manchester City have reportedly offered defender Matija Nastasic to Arsenal Nastasic for just £5m.
The Serbia international, who had featured heavily under former City manager Roberto Mancini, has fallen way down the pecking order under Manuel Pellegrini, with the Chilean tactician preferring Vincent Kompany, Eliaquim Mangala, Martin Demichelis and even Dedryck Boyata to him.
Nastasic was not even named on the bench in any of the Citizens' matches this season. The 21-year-old, who was a target for the Gunners before he joined City in 2012, was strongly linked with a switch to the Emirates last summer as well.
The transfer did not materialise, but according to Goal, both Arsenal and Tottenham Hotspur have now been given the chance to snap up the centre-back in the January transfer window for just £5m.
The Gunners and Spurs have suffered heavily due to defensive lapses this season, and are currently in the market for some defence-based reinforcements, to be made early on in the New Year.
Nastasic joined City from Fiorentina in a €15m deal back in 2012 and was chosen the club's Young Player of the Year for the 2012-13 season, after impressing in his debut campaign.
However, the youngster has struggled with injury and fitness issues of late, and managed just 13 Premier League appearances last season. City are now understood to be desperate to offload the player who is not being used at all but earns around £75,000-a-week.
Arsenal are also weighing up moves for West Ham United's Winston Reid, Celtic's Virgil van Dijk, Basel's Fabian Schar and Athletic Bilbao's Aymeric Laporte as Arsene Wenger looks to strengthen his backline when the transfer window reopens.
Tottenham, meanwhile, have been monitoring Espanyol defender Hector Moreno - with a view to make an approach in January - although the player has been recovering from a broken leg sustained during the World Cup while playing for Mexico.
However, both clubs will reanalyse their targets, now that Nastasic has been made available for transfer.