The Brazilian is not expected to make a decision until after speaking with Xabi Alonso, but plans are in place to move quickly if Real Madrid open the door.
Arsenal are reportedly preparing to make a formal move for Rodrygo, with internal plans already in place for a bid that would exceed €90 million (£77.63 million) according to Spanish outlet AS.
They go on to say that talks have been ongoing with the player’s representatives since the end of last season, and while no approach has been made to Real Madrid, the groundwork is being laid for a serious attempt once the Club World Cup concludes.
Rodrygo has apparently asked for all discussions to be paused while he focuses on the tournament, but once it ends, a meeting is scheduled between the player and Xabi Alonso to determine whether he remains central to Madrid’s plans.
If not, Rodrygo will consider his options, and Arsenal are positioning themselves as the preferred destination. Before their game against Borussia Dortmund on Saturday, the 24-year-old has scored a goal and an assist in four appearances in the competition, two of which were starts.
Arsenal reportedly believe Rodrygo would represent a marquee signing in a window that has also included negotiations for Cristhian Mosquera, whose transfer from Valencia is close to completion.
The Gunners have also seen Kepa arrive from Chelsea with Martin Zubimendi also on his way.
The club are still said to be deciding between Benjamin Šeško and Viktor Gyökeres as their primary centre-forward target, while interest remains in Eberechi Eze for a more advanced midfield role.
Rodyrygo remains under contract at Real Madrid until 2028, but his status under Alonso has yet to be fully defined.
For now, Arsenal are waiting. The final phase of the Club World Cup will conclude later this month, and only then will clarity emerge. The player is not expected to leave unless he feels surplus to requirements in Madrid but should that moment arrive, Arsenal intend to move quickly.