Arsenal are still in talks to sign Real Sociedad’s Mikel Merino but they’re yet to submit a formal bid, according to a report.

Real Sociedad's Mikel Merino celebrates his goal during the UEFA Champions League last 16 second leg football match between Real Sociedad and Paris Saint-Germain (PSG) at the Anoeta stadium in San Sebastian on March 5, 2024. (Photo by ANDER GILLENEA/AFP via Getty Images)
Real Sociedad’s Mikel Merino celebrates his goal during the UEFA Champions League last 16 second leg football match between Real Sociedad and Paris Saint-Germain (PSG) at the Anoeta stadium in San Sebastian on March 5, 2024. (Photo by ANDER GILLENEA/AFP via Getty Images)

Fabrizio Romano reports that despite things going quiet regarding Mikel Merino’s potential transfer to Arsenal, negotiations remain ongoing.

At this stage, Romano adds that there still hasn’t been a verbal bid from the Gunners, only verbal conversations with Real Sociedad. From the player’s perspective, he’s simply waiting for the two clubs to agree a deal.

As for what the two clubs have been discussing, Romano reports that it’s a matter of sorting out payment terms and the structure of the deal.

VILLARREAL, SPAIN: Mikel Merino of Real Sociedad celebrates scoring their team's first goal during the LaLiga EA Sports match between Villarreal CF and Real Sociedad at Estadio de la Ceramica on December 09, 2023. (Photo by Eric Alonso/Getty Images)
VILLARREAL, SPAIN: Mikel Merino of Real Sociedad celebrates scoring their team’s first goal during the LaLiga EA Sports match between Villarreal CF and Real Sociedad at Estadio de la Ceramica on December 09, 2023. (Photo by Eric Alonso/Getty Images)

There have been some suggestions in recent days that Arsenal’s interest in Merino isn’t necessarily going to lead to a transfer.

James McNicholas reported for The Athletic this week that whilst Arsenal hold an ongoing interest in Merino, the Gunners are still exploring their options in the midfield market.

The Spain international also has an offer to stay with Sociedad, if the transfer doesn’t work out.

MALLORCA, SPAIN: Mikel Merino of Real Sociedad celebrates scoring his team's second goal during the LaLiga EA Sports match between RCD Mallorca and Real Sociedad at Estadi de Son Moix on February 18, 2024. (Photo by Rafa Babot/Getty Images)
MALLORCA, SPAIN: Mikel Merino of Real Sociedad celebrates scoring his team’s second goal during the LaLiga EA Sports match between RCD Mallorca and Real Sociedad at Estadi de Son Moix on February 18, 2024. (Photo by Rafa Babot/Getty Images)

Should Arsenal agree a deal, Osasuna would be due 2% of the fee through FIFA’s training compensation rules.

Merino would be Arsenal’s fifth summer signing, having brought in David Raya from Brentford, Riccardo Calafiori from Bologna, and young goalkeepers Tommy Setford and Lucas Nygaard so far.