If Arsenal want José Gaya they have a choice of paying €50m for him this summer or taking a chance they might lose him by waiting until next summer when his release clause drops to €30m.

Arsenal have been linked with Valencia’s José Gaya in recent windows. Last week I reported on the possibility that Manchester City’s proposed swap deal could scupper the Gunners’ chances of signing the young full-back.

Now, there has been a development in Gaya’s situation.

Nacho Monreal is the regular left-back at Arsenal but inconsistent displays this season have left many wondering whether he has reached his peak. Schalke’s Sead Kolasinac has reportedly agreed terms ahead of a free transfer this summer and signing Gaya would add excellent competition for this position.

Gaya’s release clause has been revealed to be a whopping €50m and, despite his ability, European sides would surely not be prepared to spend that much to sign him.

Valencia are 13th in La Liga, having struggled all season long for consistency and City are trying to take advantage by acquiring his services for a cut-price fee.

According to an article in Plaza Deportiva, Gaya’s release clause will drop to €30m next summer. As a result, it’s likely that Valencia would entertain offers for him under €50m and would welcome a bidding war when the window opens as they would expect to get more than the €30m they would get next season.

It’s unclear whether either Arsenal or Manchester City will make a formal offer or wait patiently until this time next year, by which time both could possibly have missed out if another club moves this summer.