Manchester United and Arsenal are locked in yet another transfer battle — with Bayern Munich forward Serge Gnabry the latest man in demand.

The two Premier League giants are already reportedly tussling for Ajax defender Lisandro Martinez with the Daily Mail suggesting United are in pole position to land the 24-year-old Argentine.

But German trickster Gnabry, 26, has now also emerged as a target for both sides after the Bavarian giants made him available for a cut-price £40million.

The Star suggest that all of the Premier League’s elite clubs have been contacted about the winger’s availability, with the Gunners and the Red Devils showing the most interest.

Gnabry is still a regular at the Allianz Arena and scored 14 times in 34 league appearances last term, helping Julian Naglesmann’s side to a tenth straight Bundesliga triumph.

He also boasts an impressive 20 goals in just 34 international caps, but Bayern are increasingly wary of losing him for nothing when his contract expires next summer.

Arsenal were the club Gnabry signed his first professional contract with back in 2012 but he was unable to make a breakthrough in North London.

Having let him move to Werder Bremen for just £5m in 2016, club officials will be wincing at the prospect of paying eight times that amount to secure a return.

However, he has previously gone on record with his affection for the club, saying in a 2019 interview that he "always remains a Gunner".

For United, it remains a case of new boss Erik ten Hag hunting for high-quality additions and the chance to add a player of Gnabry’s calibre to the ranks at Old Trafford would be a no-brainer.

The Red Devils are expected to finalise the capture of Feyenoord defender Tyrell Malacia early next week.

In other news

Barcelona president Joan Laporta claims the LaLiga side have held discussions with Leeds in an attempt to revive a deal for Raphinha, report the Mail.

French outlet L’Equipe suggest Premier League new boys Fulham are chasing Lyon defender Leo Dubois, though the Cottagers would prefer a loan deal rather than a permanent switch.

Marca say that Vinicius Jr’s new contract at Real Madrid has a £1bn release clause inserted to ward off interest from French champions Paris Saint-Germain.