Monza have named their price for Arsenal target Gustavo Varela - and it's a doozy.

The Portugal youth international is one of Europe's most in-form strikers right now. Varela has enjoyed a red-hot start to the season, netting 11 goals in 10 games for the Serie A outfit.

In the summer, Monza snapped him up from Benfica for a measly €2.5 million, which looks like an absolute steal. In light of his early-season exploits, his Estimated Transfer Value (ETV) has jumped from €2m to €7.6m, and it is only bound to increase further if he keeps performing.

Described as a "complete centre-forward" by Italian media, Varela is quickly becoming one of European football's hottest up-and-coming striker commodities, alongside Club Brugge sensation Nicolo Tresoldi.

In recent weeks, the 21-year-old has been strongly linked with Arsenal, who were among the earliest big-hitters to show an interest in him. This is perhaps unsurprising given that former Napoli chief scout Maurizio Micheli is sporting director Andrea Berta's right-hand man in North London.

Varela's eye-watering price tag

Beyond the Gunners, Varela is being closely monitored by the likes of Napoli and Juventus, while there have also been some tentative links with Chelsea in recent days.

Now, A Bola has provided an update on the Lisbon-born attacker. In its print edition, it notes that the "unstoppable" striker, who was voted Serie A's Rising Star for the month of October, has also emerged on the radar of Barcelona, among others.

His exploits have seen him make Jorge Jesus' preliminary list for Portugal's Nations League squad, which will be formally announced on Friday. His former club Benfica are also closely following his development.

They hold a 20% sell-on clause and have matching rights for any offers that come in for him. However, Monza's asking price makes a return to Portugal unfeasible; he'll only be sold to a major club in a top-five league.

That's because the Italian side have reportedly slapped a whopping €40m-€50m price tag on Varela due to his long-term contract until 2030 and immense potential. After all, he is still only 21.

With competition for his signature growing and his stunning form showing no signs of slowing down, Monza have little reason to offer any discounts. What's more, they are adamant that he is going nowhere in January.

So, unless an extraordinary bid arrives, Monza are under no pressure to cash in on Varela mid-season. A winter move to Arsenal always seemed far-fetched - his form could still turn out to be just a purple patch - and it now looks completely off the table.