Arsenal Transfer News: Podolski Could Sign for Cut-Price Fee, Gunners in for Two South American Strikers

Arsenal target Lukas Podolski may be available for as little as £8.5 million, should the forward's club Koln be relegated this season, reports Goal.com.

A clause inserted in the Germany international's contract means that the Gunners may get their man for almost half the speculated value of his transfer.

Koln have been in a poor run of form of late and have slipped to 14th place in the Bundesliga and currently lie only four points above 16th, which would leave them facing a relegation playoff.

It was reported earlier in the week that Arsenal had already agreed personal terms with Podolski, although that may have been jumping the gun.

In other Arsenal transfer news on Friday, the Gunners are reportedly facing a battle with Barclays Premier League rivals Manchester United, Liverpool and Manchester City to secure the transfer of highly-rated Argentinian striker Matias Suarez, according to the Daily Mail.

The Anderlecht hit-man has been the subject of speculation linking him to a switch to Arsenal for several months. Indeed, it had been reported at one stage that Suarez had already agreed a switch to the Gunners for the summer, although that appears to have been highly premature.

Suarez's agent Jorge Cyterzpiler has now claimed that a host of club's are trying to pries him away from the Belgian league leaders.

The player has attracted interest from clubs in England and Italy, he told Italian website Calciomercato, according to the Daily Mail.

Liverpool have been spoken about but both Manchester clubs are also watching him. Juventus also have a chance to sign him.

In April I will be in Italy to discuss his future. In the summer he will certainly move on but Anderlecht won't let him go for cheap.

Suarez has stood-out in the club's Europa League campaign this season, netting seven times in 10 games.

Arsenal will surely be desperate to land a striker this summer, with little cover available should Robin van Persie be struck down with injury or simply require resting.

And another forward the Gunners have been linked with is Borussia Dortmund's Lucas Barrios.

The Paraguayan striker, long-touted for a switch to North London, has now admitted that he is looking to leave the German champions come the season's conclusion.

Of course, I do not want to sit on the bench for a second season, Barrios told German magazine Sport Bild, according to AFP.

That is not what being a professional footballer is about. I'm unhappy, but I'm waiting for my chance as a professional.

It is difficult on the other hand for me to accept this after such a successful season.

Barrios has struggled to replicate his impressive record from last campaign where he scored 16 times in 32 appearances.