The Gunners are in the market for at least one new forward this summer following the departure of Pierre-Emerick Aubameyang in January, while they also face the prospect of losing both Alexandre Lacazette and Eddie Nketiah when their contracts expire at the end of the season.
Arsenal have already held extensive talks to sign Gabriel Jesus from Manchester City, who are demanding a £40 million fee for the Brazilian.
But according to The Times, Arsenal have now reignited their interest in Martinez after failing to sign the Argentina international last summer.
The report claims that Arsenal were unable to meet Inter’s £60 million valuation last year, while United are also in the running and have already offered the Serie A club Anthony Martial in an exchange deal for Martinez.
However, the 24-year-old is only looking to join a club who will be playing in the Champions League next season, which would give Arsenal a major advantage if they finish fourth ahead of Tottenham in the Premier League.
Tottenham, meanwhile, were also willing to sign Martinez for £60m last year but Inter pulled the plug on the deal after deciding to sell Romelu Lukaku to Chelsea.
Martinez has been in sublime form since joining Inter from Argentine side Racing Club in 2018, scoring 70 goals in 177 appearances for the Italian club.
The Argentina international played a key role in helping the club win Serie A under Antonio Conte last season and remains a pivotal figure in their push to retain their league title this term.
Martinez signed a contract extension with Inter in October which keeps him tied to the club until 2026, however, the Italian side would be willing to sell this summer if their £60m asking price is met.
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