English Premier League giant Arsenal FC is reportedly eyeing Leicester City's Riyad Mahrez in the summer and is preparing to rival La Liga champions FC Barcelona for the services of the Algerian winger.

The 25-year-old Mahrez is one of the top goal scorers in the English top flight this season with 14 goals, tied for fourth place with Manchester City's Sergio Agüero and Watford FC's Odion Ighalo, which makes him a favorite of manager Arsene Wenger to boost the Gunners' scoring options next season.

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ESPN reported that the Holloway, London residents are "maintaining a watching brief" on the 5-foot-10 midfielder and are prepared to submit an offer for him should he want to transfer this summer.

Mahrez is said to have secured a contract extension with the Foxes last summer that will let him stay at the King Power Stadium until 2019, but Leicester is still aware of the interest of some of the top football clubs in the world, including those in China, the Middle East, and the UEFA Champions League winners Barcelona.

Foxes head coach Claudio Ranieri reportedly said that he will allow the Sarcelles, France native to leave the team in the summer if he will be the one to request them to let him go. This means that anything is still possible for Mahrez with regards to his future in the current surprise Premier League leaders.

Leicester is currently on top of the English top flight's overall standings this season with 56 points, two points clear off second-running Tottenham Hotspur and five points above third-running Arsenal.

Caught Offside noted that while Mahrez is more likely to stay with Ranieri's side next season, it would still be wise for the coach to identify "viable replacements" if in case his star winger is lured to play with one of the top clubs of the world.

Mahrez was signed by Leicester in January 2014 from Ligue 2 squad Le Havre AC at an undisclosed transfer fee. He was instrumental in leading the Foxes back to the Premier League at the end of the 2013-2014 season after winning the Championship.

Tags Football Transfer Rumors, Riyad Mahrez, Leicester City FC, Arsenal FC, Arsene Wenger