Real Madrid have allegedly earmarked Arsenal midfielder Aaron Ramsey as their top January transfer targets.

The 27-year-old has spent the last decade at the north London outfit, but it appears that the Welshman will leave the Emirates next summer after a new contract was allegedly withdrawn by the Gunners.

Ramsey will not be short of offers, and the Premier League rivals Liverpool are likely to consider an approach for the highly-rated midfielder having shown an interest in the past.

However, according to TEAMtalk, the European champions Real Madrid see Ramsey as a potential long-term replacement for either Toni Kroos or Luka Modric, whose future at the Bernabeu remains uncertain after summer links to Inter Milan.

The report goes on to claim that Ramsey’s compatriot Gareth Bale has been asked about the player availability ahead of a potential offer in the coming months.

Ramsey is allowed to sign a pre-contract agreement with an overseas club in 2019.

The Gunners could try to offload Ramsey in the mid-season and cash in before the midfielder can quit as a free agent next summer.