Arsenal linked with shocking move for former £54m Chelsea striker who is now a free agent

The Gunners could move for the 33-year old Spain international following the termination of his contract with Brazilian side Atlético Mineiro.

Arsenal have been linked with a shock move for former Chelsea striker Diego Costa after the player became a free agent last month.

The 33-year old left Brazilian side Atlético Mineiro after just five months, terminating his contract which still had 12 months remaining.

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Costa scored 52 Premier League goals in 89 appearances in the English top flight for the Gunners’ London rivals between 2014 and 2017 but a return to England may not be on the cards with further reports suggesting a move to another Brazilian side may be on the cards.

Here is what has been reported and the latest on Deigo Costa’s current situation:

Will Diego Costa sign for Arsenal this month?

Diego Costa of Atletico Mineiro smiles during a match between Palmeiras and Atletico Mineiro as part of Brasileirao Series A 2021 at Allianz Parque on November 23, 2021 in Sao Paulo, Brazil.

The Spanish international ended his third spell with Atletico Madrid in December 2020 when the player and club mutually agreed to a terminations of his contract.

The 33-year old first played for the La Liga side between 2007 and 2009 before a season with Valloid in 2009/2010.

He returned to the capital club where he stayed until 2014 when Chelsea first brought him to the Premier League.

He made 120 appearances for the Blues and scored 59 goals in all competitions while winning two Premier League titles in 2014/15 and 2016/17 as well as the EFL Cup in 2015 where he scored the second goal of the final to beat Tottenham Hotspur 2-0.

Although a regular goalscorer in England, Costa was often the centre of controversy due to his combative playing style and nature which saw him pick up multiple violent conduct charges.

He returned for his third spell with Atletico in 2018.

Now, after just 15 appearances for Atlético Mineiro in the Brazilian Série A, Costa is once again a free agent and attracting interest in both Europe and South America.

Although Arsenal are showing interest, reports this morning say that Costa is looking to stay in Brazil to sign with Corinthians where he could join up with former Chelsea teammate Willian.

Latest on Arsenal links with Arthur Melo and Dusan Vlahovic

Arsenal's negotiations over a loan deal for Arthur Melo have stalled as Juventus are waiting to find a replacement for the Brazilian midfielder.

The odds on Melo joining the Gunners before the end of the January transfer window have been cut but fans of the North London club need not panic yet as the player is still odds on to make the move before February 3.

Meanwhile, it is understood that Dusan Vlahovic remains a top target for Arsenal as the Serbian continues to impress in Serie A with Fiorentina.

The 21-year old has 18 months remaining on his current contract and previously touted transfer fees have been upwards of £60 million with several of Europe’s top clubs thought to be monitoring the situation.

Arsenal are the heavy favourites in the betting market to sign the Serbian at 5/4 while Manchester City and Tottenham Hotspur are currently priced at 10/1.