Arsenal midfielder Mikel Merino could have another option back in Spain next summer, with Athletic Club keeping an eye on his situation.
Atlético Madrid have already been linked with a move for the 30-year-old, who has struggled to secure regular starts under Mikel Arteta this season.
Now Athletic are being mentioned as potential competitors, although their chances of making a move depend on how the rest of the campaign goes.
There’s also a bit of history here. The Basque club have tried to sign Merino before, and Newcastle United once got in their way.
Athletic could afford Arsenal deal with European football
According to local outlet Bilbao Hiria, Athletic could enter the race for Merino if they qualify for European competition next season. The extra revenue would make a deal worth around €30m (£25m) financially realistic for the Basque side.
That’s the lower end of the €30-40m (£25-33.3m) range currently being discussed around the midfielder.
His valuation reportedly reached €40m (£33.3m) following his performances at the World Cup, but that figure has since come down.
Athletic also have the advantage of Merino fitting their recruitment policy. He was born in Pamplona and came through Osasuna’s academy.
The report says they were already monitoring his Arsenal situation in September. The possibility of European football could now give them the financial muscle to do something about it.
There’s no suggestion of an offer or negotiations with the Gunners yet, though.
Newcastle spoiled Athletic’s plans once before
This wouldn’t be Athletic’s first attempt to bring Merino to Bilbao. Back in 2017, they were close to signing him from Borussia Dortmund for around €8m (£6.7m)… Then Newcastle came along.
Rafa Benítez’s side moved for the midfielder and managed to get the deal done, leaving Athletic empty-handed.
Merino returned to Spain just a year later, but Athletic missed out again. This time, Real Sociedad won the race for his signature.
Bilbao Hiria explains that his name has continued to come up at Athletic whenever his contractual situation has changed.
Almost a decade after that first attempt, they could finally have another opportunity.
Atlético Madrid have a head start
The complication for Athletic is that Atlético Madrid could move considerably sooner. Diego Simeone wants another midfielder, and sporting director Mateu Alemany is exploring a January loan with an option to buy.
The idea would allow Atlético to bring Merino in without paying the full transfer fee immediately. The purchase option is reportedly being considered at around €30m (£25m).
Athletic, meanwhile, would likely have to wait until the summer. Their European qualification prospects, and the money that comes with them, won’t be settled until the end of May. So that gives Atlético a potential head start. And seems Real Madrid could be watching it all from afar.
For Arteta, there’s still the question of what to do with Merino. The Spaniard has played 491 minutes across 14 appearances this season, averaging just over 35 minutes per match. His contract runs until June 2028.
Previous reports from Spain have suggested he would consider leaving if his playing time doesn’t improve, with a return to La Liga his preferred route.
Athletic could fit that plan, particularly if they can offer European football. Whether they’ll actually get the chance may depend on what happens with Atlético in January.
It would be quite something if Newcastle’s intervention in 2017 ended up delaying Athletic’s pursuit of Merino by nearly ten years.
