Real Madrid have given Arsenal a June 15 deadline over the transfer of Pierre-Emerick Aubameyang, the UK Mirror reports. The LaLiga giants are among the clubs eyeing a move for Aubameyang, who has just one year left on his current contract in north London.
The Gabon striker is not expected to sign a new deal at the Emirates, which leaves the Gunners with a decision to make between cashing in now or allowing his contract to run down.
Real Madrid will, however, not wait beyond the middle of next month to know whether or not the 30-year-old will join them.
Los Blancos also want to explore a potential swap deal including Dani Ceballos, who is currently on a one-year loan at the Emirates.