Arsenal have reportedly begun exploring a move for Monza striker Gustavo Varela as Mikel Arteta continues to evaluate options for strengthening his attack in future windows.

According to a report by Football London on Friday, 6 November 2026, the North London club have made a formal enquiry about the availability of the 21-year-old Portuguese forward. His performances this season have attracted attention from several prominent European sides, drawing attention from across Europe.

Varela has made an impressive start to the campaign, scoring 11 goals in 10 appearances in all competitions. His record includes nine goals in nine Serie A matches, putting him level with Manchester City forward Erling Haaland in the league's goalscoring standings.

His form has come despite Monza's difficult start. The Italian club have collected only two victories from their first 10 league fixtures and are currently in the relegation zone. Varela, however, has continued to find the net, making his form stand out.

Arsenal are not the only club monitoring his progress. Barcelona and Napoli have also been linked with the striker, while Portuguese newspaper A Bola reports that Arsenal have already made preliminary contact to establish the conditions for a possible transfer.

Varela's rapid development has also earned him his first senior call-up to the Portugal national team. The call-up underlines his rapid progress.

Monza signed the forward from Benfica during the summer transfer window for a reported €2 million, equivalent to around £1.7 million. Transfermarkt now estimates his market value at approximately €5 million, or £4.2 million. Monza's asking price is expected to be higher.

Reports indicate that the Italian club value Varela at more than £33 million, with some accounts suggesting they could seek as much as £42 million. Monza are also reportedly reluctant to sanction a January departure because they want to retain a key attacking figure while attempting to escape the relegation zone.

The financial demands and timing could therefore complicate Arsenal's pursuit, if their enquiry develops. Losing a forward who has been so productive would be a significant decision for a club fighting to remain in the division.

Arsenal's interest comes after they invested £64 million in Viktor Gyokeres just over a year ago. Arteta can also call upon Kai Havertz as another option through the middle, leaving Varela as another potential option.

The Gunners were previously associated with Atlético Madrid striker Julián Álvarez, but reportedly ended their pursuit because of the cost, with his valuation exceeding £120 million. Varela could offer a younger and potentially more affordable alternative, although his limited experience at the highest level would make a major investment a risk.

For now, Arsenal's enquiry signals interest rather than an agreed transfer. Monza's valuation and reluctance to sell during the winter window remain significant obstacles. Nevertheless, Varela's outstanding scoring form has placed him firmly on Arsenal's radar as Arteta weighs attacking reinforcements. His scoring rate will be closely watched, as interest from clubs in different leagues could create competition if Monza eventually soften their position this season too.