Arsenal's £59.9m 'backup plan' emerges amid transfer interest in Wolves ace

Arsenal have reportedly drawn up a backup transfer target in case they can't secure a deal for Wolverhampton Wanderers winger Pedro Neto.

The Gunners, who are currently firmly in the title race alongside Manchester City, Liverpool and Aston Villa, want to add firepower to their attack in the summer. Mikel Arteta and Edu are already thinking ahead, with Neto at the forefront of their plans but another name now on the table too.

Football Transfers reports Arsenal have been tracking Paris Saint-Germain attacker Xavi Simons for over three seasons and are considering making a move this summer. Neto is said to be the number one choice but Arteta is open to signing Simons if a deal cannot be struck with Wolves.

Neto has gained the attention of not only Arsenal but the likes of Manchester United, Manchester City and Liverpool in recent months. The 23-year-old is finally starting to fulfil his potential as he has notched eight assists and one goal in 12 Premier League matches this season.

Simons, in comparison, has five goals and seven assists in 18 Bundesliga appearances on loan at Red Bull Leipzig this campaign. The 20-year-old started at PSG but was then sold to PSV Eindhoven with a £6 million buy-back option. The Parisiens activated that in the summer before loaning the attacking midfielder to Leipzig.

An extraordinary 19 goals and nine assists were contributed for PSV in Eredivisie last season, with Simons helping the Dutch side to a second-placed finish. The Netherlands international has a current market value of around €70 million (£59.9 million).