Karim Benzema Real Madrid
Arsenal can sign Karim Benzema, only if Real Madrid find a suitable replacement, be that Sergio Aguero or Marco ReusReuters

Arsenal will be allowed to sign Karim Benzema in the summer transfer window, but with one caveat – as long as the Spanish giants are able to sign their own "high-profile" (read Sergio Aguero) replacement.

Aguero has been a reported Real Madrid target ever since he started banging in the goals at Manchester City, and while every transfer window goes by with a link that inevitably comes to nothing, this summer could be different as Florentino Perez is ready to make a big offer for the Argentine.

Manchester City have absolutely no need to sell arguably their best player, the man who won the Premier League golden boot last season, despite struggling with injuries, even if Real Madrid make an astronomical offer.

The only way Real will be able to manufacture this move is if they convince Aguero his future lies in the La Liga, which going by the Argentine's recent comments, looks difficult as well.

However, if Arsenal are to get their man in Benzema – Wenger's primary target for the striker position this season – they will have to wait for Real Madrid to sign a suitable replacement, according to Spanish journalist Kike Marin.

"@Arsenal Benzema goes to #Arsenal if #RealMadrid signs a centre forward. Florentino wants Kun. Wenger will offer €50M," Marin said on Twitter.

Reports had suggested Arsenal have already made a £40million offer for Benzema, which is €6m more than the €50m that Marin has mentioned.

The Arsenal director Lord Harris said the club have no problems in shelling out big money – even beyond the club record of £42.5m paid to Real Madrid for Mesut Ozil – to sign a marquee player this summer, and money, you would believe, is not the problem.

The issue remains if Wenger and Arsenal can convince Real Madrid to sell Benzema, with Marco Reus another potential replacement for the Spanish club if the Aguero deal does not come to fruition. If Reus signs, Rafa Benitez will likely move one of Cristiano Ronaldo or Gareth Bale into the central striking position.

Reus, though, has also said he wants to stay at Borussia Dortmund for another season, but the German club are nowhere near as strong, when it comes to money, as Manchester City or Real Madrid.

In an ideal world for Arsenal, Real Madrid will sign Aguero in the summer after Manchester City find a suitable replacement – or are forced to sell -- allowing Benzema to move to the Emirates.

And while that scenario might seem bleak, one thing is for certain, Wenger will be there right until the end of the summer transfer window, hoping to make that last-minute deal which will turn Arsenal into Chelsea's closest rivals for the Premier League title.