Arsene Wenger is ready to smash Arsenal's transfer record this year if reports originating from France are to be believed. It has been reported that the Gunners are interested in signing star winger Riyad Mahrez for £47 million from current English Premier League champions and if the move does go through it will be a massive statement of intent from Arsenal, who failed to sign even a signle outfield player during last year's summer transfer window. The developments were first reported in the French media and according to most reports, Mahrez has apparently accepted Arsenal's offer, however the North London club would still need to negotiate a fee with Leicester City.

Mahrez scored for Leicester City in their practice game yesterday and after the game, manager Claudio Ranieri strongly denied reports of a move. When asked, he said,

"It is good because you can continue to write, write, write," he told the written press after the match at Celtic Park.

"It is good for you but not for us. Did you see Riyad, how he is happy? He played well and worked so hard for the team and scored a good goal. Then he stays with us. Of course.

"For us it is very important because he is one of our stars. He is our fantasy. We can work hard but with him something change.

"With another team there are many more stars and maybe he doesn't play at the same level. Maybe he go on the bench. It is much better he stay here with me and another year is important for him. Maybe now (£47m) and maybe tomorrow another newspaper says £100m. Keep going! Mahrez is okay with us. He understands that's someone loves to put some speculation but it is only speculation." (quotes from The Independent )

Leicester City had signed Mahrez for only £400,000 two years ago and if this deal goes through, then it would certainly prove to be a huge return on their investment. Arsenal, on the other hand, will land a player who will make them instant contenders for the Premier League title in 2017.