Martin Zubimendi's Arsenal future is attracting attention ahead of the January transfer window, with Real Madrid, Atletico Madrid and Chelsea reportedly monitoring the midfielder. The situation is striking because the Spaniard was a major contributor to Arsenal's Premier League title-winning campaign last season, but his position in Mikel Arteta's starting team has since changed.

Miguel Delaney reported in The Independent on November 10 that the three clubs are tracking Zubimendi ahead of a possible January move. Arsenal are reportedly expected to seek at least the £60 million they paid Real Sociedad in 2025 if a departure becomes possible. The report establishes interest from the clubs, not a formal bid or an agreement with Arsenal.

The biggest reason his situation has changed is the competition for places in midfield. Zubimendi was pivotal to Arsenal's title success last season, with only Declan Rice playing more outfield minutes, according to Arseblog. However, he faded towards the end of that campaign and lost his place to Myles Lewis-Skelly, who started the Champions League final.

His route back into the starting side has become more difficult following the summer arrival of Bruno Guimarães. The Independent reports that Arteta has recently favoured Guimarães and Rice as his primary midfield pairing, with Lewis-Skelly also featuring in the mix. Zubimendi's only starts this season have reportedly come in the League Cup, while an ankle injury has also interrupted his progress.

Arteta has nevertheless pushed back against the idea that Zubimendi has become unimportant. Speaking ahead of Arsenal's Champions League match against Slavia Prague, he described the midfielder as a very important player and praised his energy, application and willingness to help the team. He also said Zubimendi and Mikel Merino were playing a pivotal role, while acknowledging that focusing only on the players starting matches presents a different picture.

That distinction matters. Zubimendi can remain valuable to Arteta while still facing a fight to regain a regular starting position. For a midfielder who played such a significant role in the previous title campaign, the reduced opportunities create a genuine question about how much room Arsenal have for him in their current midfield structure.

There is also a recruitment argument behind the reported transfer interest. The Independent says Arsenal want a transitional winger, meaning a fast attacking player capable of carrying the ball forward quickly. However, the club are reportedly unlikely to pursue that addition without a major sale, and Zubimendi is viewed by the report as a possible outgoing player who could help make that business possible.

The combination of reduced starting opportunities, increased midfield competition and Arsenal's reported attacking recruitment plans explains why his name has entered the transfer conversation. It also helps explain why Real Madrid, Atletico Madrid and Chelsea may believe a deal is worth monitoring. But whether Arsenal would actually sanction his departure remains unanswered.

For now, Zubimendi's situation is not simply about three clubs watching a £60 million midfielder. It is about a player who was central to a title-winning season finding his place in a midfield that has changed around him. January could test Arsenal's willingness to keep that depth or turn it into funds for another position.