Paulo Dybala Arsenal Cristian Zapata AC Milan
Paulo Dybala is a major target for ArsenalReuters

Arsenal look serious in their quest for Paulo Dybala, with reports suggesting Arsene Wenger has put in a £31 million bid for the man dubbed as the "new Sergio Aguero."

Dybala has been tipped for great things, with the Palermo president even insisting soon enough he will be right up there, if not better than, with the likes of Cristiano Ronaldo and Lionel Messi.

While that might be a tall order for anyone, there is little doubt that Dybala has tremendous potential and the ability to become world-class.

That has led to the likes of Manchester United and Liverpool also tracking the Argentine striker, along with Arsenal, who were thought to be leading the race for the 21-year-old.

Indeed, according to the Daily Star, Arsenal have made their interest official by putting in a big bid of €40 million (£31 million), the amount that the Palermo president had said it would take for them to even consider a sale.

While it is a little difficult to imagine Wenger will be willing to pay the similar kind of amount he paid for Alexis Sanchez for a player who is yet to prove himself, he might not have any choice but to do that if he is to ink the deal.

Borussia Dortmund are also reportedly in the trail of Dybala and have marked him out as the perfect replacement for Marco Reus, who is expected to leave the Westfalenstadion in the summer.

Reus will be available for just £20 million at the end of the season when a release clause comes into play, and the Germany international, despite being linked with the likes of Chelsea, Arsenal, Manchester United, Liverpool, Bayern Munich, PSG and Barcelona, is thought to have agreed a deal with European champions Real Madrid.

With Reus' exit looking like a foregone conclusion, Dortmund have had to identify a replacement, and Jurgen Klopp has picked out Dybala as the perfect candidate, with the German club making a massive £37.7 million bid.

Now, Dortmund are also not exactly a side that pay large amounts of players, so it remains to be seen if the German giants will go ahead with the big-money deal, just as it remains unlikely that Arsenal will move forward and look to tie up the Dybala transfer for the kind of money that has been mentioned.

Wenger's priority at the moment remains further down the field -- defensive midfield and central defence -- but the manager has never been shy over signing youngsters that he sees capable of turning into world beaters.