Real Madrid are interested in Arsenal defender Riccardo Calafiori but will have to pay more than £84m for the left-back, the latest report has claimed.

The Gunners will take on giants Bayern Munich on Wednesday in the Champions League, and that is sure to be a fierce contest.

If the Londoners are to take three points from the match at Allianz Arena, they will need their key players to be at their best, including left-back Calafiori.

The Italian has been a key weapon for Mikel Arteta in the final third, while his defensive level has also been high this season.

A new report from CaughtOffside claims that while Real Madrid are interested in Calafiori, Arsenal would demand more than €100m (£83.93m) for his signature.

Riccardo Calafiori to Real Madrid: Why Arsenal defender is on transfer radar

Arsenal have at times been criticised this campaign for a reductive style of play, with the likes of Bukayo Saka and Viktor Gyokeres facing scrutiny.

The Gunners have managed to score 11 times in the Premier League in seven games, and though they have been unspectacular in the final third, Calafiori has been at the heart of many of the club's best offensive moments.

Calafiori has scored once and provided two assists so far in the league, with only Declan Rice contributing to more direct goals (four) in the Arsenal squad.

The 24-year-old is not only strong in the opposition's half of the pitch, but he is also strong without the ball, with the left-back having won 51% of his duels this season.

Should Arsenal be confident of keeping Riccardo Calafiori?

While Real may hold interest in Calafiori, it would be surprising if they made a move for him considering they already have Marc Cucurella and Alvaro Carreras in their squad.

The former was signed from Chelsea for a fee in excess of £50m in the most recent window, and replacing the Spaniard after just one season would indicate that the club lack faith in their first-choice left-back.

It should also be noted that Arsenal are reigning Premier League champions, while the La Liga side look like they are in a transition phase under Jose Mourinho.

However, Real are arguably the biggest club in world football and few players can resist the lure of playing at the Bernabeu, so it would be foolish to disregard speculation linking the Italian with Los Blancos.