With the January transfer window inching closer, Arsenal are believed to be monitoring three La Liga footballers and are also hoping that at least two will arrive at the Emirates Stadium when the transfer window reopens.

If the rumors are to be believed, the Gunners are currently tracking La Liga side Athletic Bilbao's striker Fernando Llorente and winger Iker Muniain, and Real Madrid midfielder Esteban Granero. It was previously reported that Arsenal are interested in Granero, but new reports have suggested that both Munian and Llorente are on Arsenal's radar.

However, the Gunners will know that the club will face competition for the 26-year-old Llorente, who is the costliest of the three, from the likes of Chelsea and Tottenham. Wenger, nonetheless, believes that a fee around £6 million-£8 million will be enough to land the 24-year-old Granero, who has been monitored by Arsenal for quite some time and who has failed to make an impact on the current Real Madrid squad.

Munian, on the other hand, looks the unlikeliest to join Arsenal as he has also been tracked by both Barcelona and Manchester United. The 18-year-old has impressed at Bilbao since he signed a professional contract in 2009.

Munian has a £10 million price tag, according to a Footybunker.com report.