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Arsenal have begun talks for Erling Haaland amid Manchester City's potential demotion to the fifth tier due to 114 financial violations: details of Arteta's plans, interest from Real Madrid, and the record-breaking deal.

Arsenal have initiated discussions regarding a potential transfer for Manchester City's star striker Erling Haaland. The Gunners' decisive actions come in light of threats that the Manchester club could be relegated all the way down to the amateur leagues.

Manchester City have been found guilty of 114 financial violations and are set to appeal following the announcement of specific disciplinary sanctions. However, according to journalist Ben Jacobs, the Premier League hierarchy is pushing for the most stringent punishment possible, which could include immediate expulsion from the top flight or a severe points deduction that would guarantee relegation.

Furthermore, the English Football League (EFL) is prepared to back the Premier League's stance, potentially barring City from participating in any of their competitions: the Championship, League One, and League Two. If such a catastrophic scenario unfolds, the club could plummet to the fifth tier of English football — the National League. In this eventuality, many of their star players would likely depart, with the Norwegian striker among the first to leave.

According to Football Insider, both Arsenal and Real Madrid have made contact with Haaland's representatives to discuss a possible transfer.

Insider Fabrizio Romano has confirmed that the North London side is keen on securing a high-profile signing in the centre-forward position:

Yes, Arsenal are continuing to monitor the striker market. That’s a reality; they are weighing up available options. This isn’t an urgent request or a panic move, as the club is very happy with their forwards and scoring plenty of goals. But if you ask me about 2027, the striker position is one that they want to fill, and I expect active steps from Arsenal.

However, Manchester City have no intention of letting the Norwegian leave on the cheap. Earlier, insider Graham Bailey from TEAMtalk dismissed suggestions that a relegation clause exists in Haaland's contract that would automatically lower his release fees. With interest also coming from Real Madrid and Barcelona, any move for the striker could shatter the current transfer record set by Neymar when he moved to PSG for £198 million back in 2017.