Chelsea and Arsenal are both reportedly preparing £15m moves for Valencia forward Paco Alcacer.

The 21-year-old, who has already scored twice in La Liga this season, netted on his first Spain start in last week's Euro 2016 qualifier against Macedonia.

The striker said following the match that he wanted to remain with Los Che "for many years", but it is understood that Alcacer has a £15m release clause in his contract.

According to the Sunday People, both Chelsea and Arsenal are preparing moves for the attacker, but Valencia are keen to commit the forward to a new deal.

Real Madrid and Barcelona are also said to be monitoring developments.