Arsenal have '24 to 48 hours' to complete third January transfer as Edu handed decision

Arsenal have been set a deadline of 24-48 hours to decide if they want to seal a deal for Real Valladolid youngster Ivan Fresneda or pull out of the running for him.

The Gunners have already added two new faces to their squad in the January transfer window. Leandro Trossard and Jakub Kiwior have been signed for a combined 48m from Brighton and Spezia.

With just a few days remaining of the current window, there could yet be even more signings. Young right-back Fresneda is among those to have been linked with a late switch to the Emirates Stadium.

Reports have suggested that Arsenal have lodged a 13m bid to his current employers ahead of a potential deal, whilst German giants Borussia Dortmund are also firmly in the running to secure his services.

It has been suggested that the Bundesliga side are front-runners having offered Fresneda the chance of more first-team football than Arsenal - the competition at the Emirates Stadium potentially putting the 18-year-old down the pecking order. Meanwhile, Valladolid are thought to be keen on getting the youngster back on loan with Dortmund reportedly willing to match those demands.