According to new reports, English Premier League club, Arsenal, are competing with German Bundesliga outfit, Schalke 04, to sign French Ligue 1 side OGC Nice's Argentine defender, Fabian Monzon. The Gunners may have to move fast to beat the Germans, though.

Arsene Wenger, the Gunners' boss, has reportedly sent scouts to monitor the 24-year-old, with a summer transfer in mind. The reports must have been impressive because the north London club are thought to be readying a final move to bring the player to the Emirates, as early as January.

The Argentine defender, who moved to France last summer, has impressed in the French league and now a number of other European clubs are interested in the left-back. Arsenal, however, seem to be in pole position for a player who was a member of his national team's Gold-winning squad, at the 2008 Olympics.

It is believed that the French club has reached an understanding with its player; one that will see him leave the Stade Municipal du Ray for other opportunities in Europe and the club receive a fee in the region of £11 million, according to a footylatest.com report.

Luciano Fabian Monzon, who arrived at Nice from Argentine club Boca Juniors last summer and signed a four year deal with the French side, has made more than 50 appearances for the club thus far.