Arsenal target Ivan Fresneda has had his release clause reduced after his current side Real Valladolid were relegated from La Liga.
Fresneda has been closely linked with a move to the Gunners in January following an explosive campaign in La Liga.
Arsenal submitted an offer of £13m - the same as that of Borussia Dortmund - for the right-back, but Fresneda turned down both offers to stay at Valladolid. His agent told AS that "about 30 clubs" are interested in his services.
The 18-year-old continued to play regularly for the Spanish side in the second half of the season but was unable to help them stay in La Liga for another season. Advertisement
Valladolid were relegated on the final day of the campaign on Sunday, drawing 0-0 at home to Getafe. A win will guarantee their safety.
Their relegation to the second tier of Spanish football has cast new doubt on the future of one of their greatest talents - and Arsenal have been further boosted in their pursuit of the defender.
Fresneda's 'reduced' release clause
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According to regulations in the top leagues of Spanish football, Valladolid de Fresneda's contract has a release clause.
It has been set at 40 million euros (about £34.4 million), which is the price Arsenal must pay to negotiate directly with the right-back. However, according to Spanish news agency Relevo, that release clause was halved to 20 million euros after Valladolid was relegated to second place.
It is reported that Fresneda's contract contains a series of variables that will cause the clause to increase if those variables are met. One of the terms concerns the Spaniard's 22 league appearances - a feat he achieved on the final day of the season.
This raised his release clause to €40m (£17.2m). However, the report adds that the clause will only come into effect if Valladolid remains in La Liga, which in turn will decrease upon relegation. Whether Fresneda will choose to stay at his current club to help them return to La Liga remains uncertain, but Relevo claims his departure could be 'accelerated' - and Arsenal, Dortmund and Newcastle are all interested in signing the young defender.
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