Arsenal have identified a potential transfer target who is taking European football by storm

Arsenal are reportedly keeping tabs on one of the most exciting young strikers in European football - Gustavo Varela. The 21-year-old Monza forward has emerged as a potential transfer target following a remarkable start to the season.

He has blasted 11 goals in 10 appearances in all competitions so far this term. His record in Serie A is equally impressive, with nine goals in nine league matches - a tally identical to that of Manchester City striker Erling Haaland.

What makes Varela's exploits all the more remarkable is the circumstances in which he has produced them. Monza have endured a difficult start to the campaign and currently find themselves in the relegation zone, having won just two of their opening 10 league fixtures. The Portuguese youngster has nevertheless continued to deliver in front of goal, attracting attention from some of Europe's biggest clubs.

It's claimed Arsenal have already submitted a formal enquiry about the Portugal Under-21 international. Barcelona and Napoli are among the other sides monitoring his progress, but the Gunners are one of the first clubs to have communicated a concrete interest, according to Portuguese outlet A Bola.

Varela's rapid rise has also been recognised at international level, with the striker rewarded for his impressive performances with his first call-up to the senior Portugal squad on Friday. It represents another significant milestone for a player who, only a few months ago, was deemed surplus to requirements by Benfica.

Indeed, Monza only signed Varela from Benfica during the summer, paying a reported €2million (£1.7m) to secure his services. His performances have already made that investment look like an extraordinary piece of business. According to Transfermarkt, his market value has risen to €5m (£4.2m), although that figure is some way below the amount Monza would demand to consider a sale.

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The Italian club are understood to value Varela at upwards of £33m - with some reports claiming they could ask for a fee as high as £42m - and have little intention of sanctioning a January exit. With Monza facing a battle to preserve their Serie A status, losing their most productive attacking player midway through the campaign would represent a significant blow.

That could complicate matters for Arsenal, who are believed to be considering their options as they assess the striker market. Despite investing £64m in Viktor Gyokeres just over a year ago, Mikel Arteta is reportedly keen to explore alternative options capable of strengthening his attacking department.

The Gunners were heavily linked with Julian Alvarez during the summer, but ultimately baulked at Atletico Madrid's reported £120m-plus valuation of the Argentine. Varela would represent a considerably cheaper alternative, although his potential asking price means he would still command a sizeable investment.

There are obvious reasons for Arsenal to be intrigued. His goalscoring numbers this season suggest a natural instinct inside the penalty area, while his age means there is considerable scope for further development.

However, there would also be an element of risk. Varela has enjoyed only a relatively brief spell in one of Europe's major leagues and has yet to demonstrate that he can maintain his current output over a full season. Moving to a club with Arsenal's expectations would bring an entirely different level of scrutiny and competition for places.

Gyokeres and Kai Havertz also remain options for Arteta in the centre forward position, meaning Varela would potentially have to adapt to a supporting role rather than immediately become the main man.

Nevertheless, with Europe's elite beginning to take notice, Arsenal may feel the opportunity to secure one of the continent's most promising young forwards is too good to ignore. Monza's valuation and reluctance to sell in January could prove significant obstacles, but Varela's extraordinary start to the season has ensured he is firmly on the radar.