Arsenal have been handed a major boost in their pursuit of Alvaro Morata, with Juventus confirming that Real Madrid have re-signed him by activating a buy-back clause in his contract.

A statement on Juventus' official website read: "All associated with Juventus Football Club would like to wish Alvaro the very best of luck wherever his future may take him and thank him for two truly excellent years of service to the team."

The Gunners can now step up their interest by opening talks with the Estadio Bernabeu outfit in the near future.

Arsene Wenger, who promised three signings at the start of the summer, has been busy, trying to sign a top class striker.

Jamie Vardy was initially expected to depart the Premier League champions Leicester City in order to join the runners-up after Arsenal triggered his release clause, but he chose to pledge his future to the Foxes.

The Telegraph reported yesterday that Arsenal had already held talks with Romelu Lukaku and Alexandre Lacazette over a potential transfer; however, Wenger prefers Morata to the above-mentioned duo, allegedly.

Arsenal will face stiff competition from fellow-Premier League side in Chelsea, who are seemingly scouting the same strikers as Arsenal, to ease the pressure off Diego Costa’s shoulders.

Real are reported to have slapped a whopping £57m price tag on the 23-year-old striker. Having only recently splashed £35m on defensive midfielder Granit Xhaka, Wenger can be tipped to break the bank for Morata, unless he chooses to settle for a cheaper alternative in Lacazette, whom he can sign for £23m less.

With Danny Welbeck expected to return only in 2017 and Theo Walcott failing to fulfill his potential, Arsenal are in a desperate need for strikers. They can be expected to complete a deal for Lukaku, Lacazette, or Morata in the coming weeks.