Premier League clubs have been alerted after Atletico Madrid manager Diego Simeone gave the go-ahead for the club to sell winger Yannick Carrasco.
Both Manchester United and Chelsea have been heavily linked with the Belgium international in recent months, with Carrasco's contract boasting an £86 million release clause.
Both Nicolas Gaitan and Luciano Vietto are also understood to be on the transfer list.
Arsenal and Liverpool are both set to make a move to sign Mexican sensation Hirving Lozano from PSV, according to the Daily Star.
The 22-year-old winger joined the Eindhoven club from Pachuca in the summer after rejecting Manchester City and has been a revelation in the Eredivisie with 11 goals in 16 games.