Arsenal are opening new contract talks with Gabriel Martinelli.

Tuttosport says Arsenal have rebuffed all enquiries and launched negotiations with the teenager's camp about a new deal.

Real Madrid and Juventus have been linked with Martinelli in recent weeks as the Brazilian has proved himself at first team level.

Real president Florentino Perez is willing to offer €50m to ferry Martinelli away from London this summer.

But Arsenal are now in talks about upgrading the player's contract, which runs to 2024.